Louisiana Administrative Code › Title 43 - NATURAL RESOURCES › Part XXXI - Coastal Protection and Restoration Authority › Chapter 1 - Natural Resource Damage Restoration Banking › Subchapter B - NRD Restoration Banking Framework › Section XXXI-123 - Monitoring NRD Restoration Banks

Current through Register Vol. 50, No. 6, June 20, 2024
A.
				  The restoration bank plan must address the monitoring requirements for the NRD
				  restoration bank, including those objectives and factors set out in
				  15 CFR §
											990.55(b)(2) and (3), as
				  well as the parameters to be monitored, the length of the monitoring period,
				  the party responsible for conducting the monitoring and submitting reports, and
				  the frequency for submitting monitoring reports to the BRT. Performance
				  criteria for an NRD restoration bank will be determined during the consultation
				  between the BRT and the sponsor following the submittal of the prospectus and
				  must be specified in the restoration bank plan. The performance criteria will
				  be used to assess whether the NRD restoration bank is achieving its restoration
				  objectives, including to determine release of restoration credits and release
				  of financial assurances consistent with these regulations.
B. The submission of monitoring reports to
				  assess the development and condition of the NRD restoration bank is required.
				  Monitoring the NRD restoration bank is necessary to determine if the NRD
				  restoration bank is accomplishing its restoration objectives, if performance
				  criteria are being met, and, if not, what corrective action is necessary to
				  ensure that those criteria are met. The content and level of detail for
				  monitoring reports will be determined during the consultation period following
				  the submittal of the prospectus and must be commensurate with the scale and
				  scope of the NRD restoration bank. The monitoring reports may include plans
				  (such as as-built plans), maps, and photographs to illustrate site conditions.
				  Monitoring reports may also include the results of structural, functional,
				  temporal, and other assessments used to provide quantitative or qualitative
				  measures of the functions provided by the bank. The sponsor is responsible for
				  submitting monitoring reports at a frequency determined by the BRT. Monitoring
				  reports must be provided by the BRT chair to interested federal, tribal, state,
				  and local resource agencies, and the public, upon request. The BRT may conduct
				  site inspections upon providing notice to the bank sponsor to evaluate NRD
				  restoration bank performance.
C.
				  The restoration bank plan must provide for a monitoring period that is
				  sufficient to demonstrate that the NRD restoration bank has met its restoration
				  objectives and performance criteria. Upon a determination that the NRD
				  restoration bank has achieved its objectives and performance criteria, the BRT
				  may reduce or waive the remaining monitoring requirements. Conversely, the BRT
				  may extend the original monitoring period upon a determination that performance
				  criteria have not been met or the bank is not on track to meet them. The BRT
				  may also revise monitoring requirements when corrective action is
				  required.
AUTHORITY NOTE:
					 Promulgated in accordance with
					 R.S.
					 49:214.5.2.