Wisconsin Administrative Code › Department of Natural Resources › NR 300-399 - Environmental Protection - Water Regulation › Chapter NR 350 - Wetland Compensatory Mitigation › Section NR 350.008 - Process for establishing a mitigation bank

Current through June 24, 2024
(1) PROCESS.
(a) A mitigation bank sponsor shall prepare
				and submit a mitigation bank prospectus to the department under s. NR
				350.007(1) to (3).
(b) Within 90
				days of receipt of a bank prospectus, the department shall provide through
				email or mail the department's written opinion of the likelihood that the
				proposed compensation site will comply with the requirements of this chapter.
				The department may request a site visit prior to providing its written
				opinion.
(c) Based on comments
				received from the department a prospective mitigation bank sponsor shall
				prepare and submit a draft mitigation bank instrument to the department. A
				complete draft mitigation bank instrument shall include all of the following:
1. A complete compensation site plan under s.
				NR 350.007(6).
2. Information on
				the operation of the bank including the expected number of credits, provisions
				for the sale of credits, accounting and reporting procedures, and provisions
				for site inspections pursuant to s. NR 350.009.
3. A discussion of the persons responsible
				for management of the bank accounting, long-term ownership, monitoring,
				maintenance, and long-term management of the site.
4. Proposed financial assurances for the site
				pursuant to sub. (3).
5. A proposed
				conversation easement for the site pursuant to sub. (4).
6. A proposed schedule that includes a
				timeline for submittal of a final mitigation bank instrument, construction, and
				monitoring under s. NR 350.007(6).
(d) Within 90 days of receipt of a complete
				draft mitigation bank instrument, the department shall provide through email or
				mail a status update letter that may include any of the following:
1. The department may recommend that the
				sponsor prepare and submit a final mitigation bank instrument.
2. The department may require supplemental
				information regarding specific components of the draft mitigation banking
				instrument prior to the preparation and submittal of the final mitigation
				banking instrument.
3. The
				department may require a revised draft mitigation banking instrument submittal
				if the original proposal is determined to have a high likelihood of failure or
				key components were missing from the submittal.
(e) If the sponsor completes a submittal
				under par. (d) 1. or 2., the department shall provide through email or mail a
				written description of any missing items that must be included and concerns
				that need to be addressed to make the final mitigation bank instrument
				approvable.
(f) Based on comments
				received from the department a prospective mitigation bank sponsor shall
				prepare a final mitigation bank instrument. The final mitigation bank
				instrument shall include all of the following:
1. Any changes requested by the department,
				as described in par. (d).
2. Final
				versions of the construction and post construction financial assurances that
				are put in place under sub. (3).
3.
				A final version of the conservation easement or comparable legal instrument for
				the site under sub. (4).
(g) After a mitigation bank sponsor submits a
				final mitigation bank instrument to the department, the department shall do all
				of the following:
1. Within 30 days, notify
				the mitigation bank sponsor whether the department intends to approve the final
				mitigation bank instrument.
2. Once
				the U.S. army corps of engineers determines that the instrument will be
				approved, the department shall be a signatory to the final mitigation bank
				instrument.
3. Include the bank on
				a mitigation banking web page listing banks that are open and approved to sell
				credits. If bank sponsors choose to include contact information and a project
				narrative the department shall provide this information on the mitigation
				banking web page.
Note:
As an interagency review team member, the
				  department will review mitigation bank prospectus submittals and issue any
				  comments to the U.S. army corps of engineers within 90 days of receipt; will
				  review draft mitigation bank instrument submittals and issue any comments to
				  the U.S. army corps of engineers within 90 days of receipt; and the department
				  will review final mitigation bank instrument submittals and notify its intent
				  to approve or object within 30 days of receipt. Should the U.S. army corps of
				  engineers' review of any of these documents extend beyond the stated timeline,
				  the department's comments may be subsequently delayed in reaching a mitigation
				  bank sponsor.