Michigan Administrative Code › Department - Environmental Quality › Water Resources Division › Wetland Mitigation Banking › Section R. 281.955 - Mitigation banks; establishment

Current through Vol. 24-12, July 15, 2024
Rule 5.
(1) The
				establishment and use of a mitigation bank are voluntary. The permit applicant
				has the option of providing compensatory mitigation for a single permitted
				action at the time of permit issuance. A mitigation bank shall be established
				in accordance with the wetland mitigation banking rules in order for credits
				from the mitigation bank to be authorized by the department as compensatory
				mitigation for wetland losses authorized under the act.
(2) A person who chooses to establish and
				operate a mitigation bank shall enter into a written mitigation banking
				agreement with the department before construction of the mitigation bank or any
				sale or use of credits from the bank. The agreement shall define the size of
				the bank, the ecological type of wetlands to be included, wetland functions to
				be provided, the area to be served by the mitigation bank, and the requirements
				for establishment, operation, and long-term maintenance by the bank sponsor.
				The bank sponsor shall provide the department with all of the information
				needed to prepare the agreement. A mitigation banking agreement shall include
				all of the following elements and provisions:
(a) A legal identification of the bank
				sponsor.
(b) The mitigation banks
				location and size, including a legal description of the property.
(c) Ownership of the site and documentation
				that the bank sponsor is authorized to use the property. If the owner is not
				the bank sponsor, then the owner shall sign the mitigation banking
				agreement.
(d) Bank goals and
				objectives and the geographic area to be served. The goal statement shall
				indicate the types of wetlands to be developed and the types of wetland losses
				for which the bank is to be used.
(e) An analysis of the ability of the site to
				support a diverse wetland system.
(f) Consistency with existing watershed or
				ecoregion management plans.
(g)
				Long-term development trends in the area and their potential impact on the
				long-term viability of the wetland mitigation bank.
(h) A description of baseline conditions at
				the proposed bank site, including delineation of all existing surface waters or
				wetlands.
(i) The site development
				plan.
(j) A long-term site
				management plan. If the person responsible for ongoing management of the site
				is not the bank sponsor, then the person shall sign the mitigation banking
				agreement.
(k) The accounting
				procedures to be used to track the availability, sale, and use of mitigation
				credits and the procedures for notifying the department of the sale or use of
				credits.
(l) Performance standards
				for determining mitigation bank success and certification of credits.
(m) A monitoring plan to evaluate the
				achievement of performance standards and reporting protocol.
(n) Provisions for financial assurances to be
				used to complete remedial action in the event of bank default or failure, and
				provisions for the release of financial assurances once an approved bank is
				determined by the department to be self-sustaining.
(o) Provisions for the protection of the site
				in perpetuity, generally through a conservation easement or deed
				restriction.
(p) Assumption of
				liability for construction and operation by the bank sponsor.
(q) If the bank will also be used to meet
				mitigation requirements of other federal, state or local agencies, the agencies
				also need to sign the agreement.