Ready, Set, GO! Mitigation Banking from MBI to Credit Sales
Restoring streams and wetlands as part of a compensatory mitigation bank can be a very rewarding process. A common question our clients ask, is how long does it take to complete a mitigation bank? The short answer is that it depends. The long answer is also that it depends. It will depend on the details and complexities of the project such as how much dirt do we have to move, is there a physical outlet control structure, how does it impact neighbors, are there sources of invasive plants surrounding or upstream of the project? Depends on when we start working on a project – during the growing season when we can be in the field to verify potential and complete the necessary surveys, or during the winter when all we have to work with are maps and aerial photography?
Location
And it depends on the location of the project and who will form the Interagency Review Team (IRT) – which state is it in. Is it Minnesota with the Board of Water & Soil Resources (BWSR), in Wisconsin with their Department of Natural Resources, or in Iowa with their Department of Natural Resources? Which district of the United States Army Corp of Engineers has jurisdiction, the St. Paul or Rock Island District?
Timeline
As a general rule of thumb, we tell our clients in the preliminary planning stage of a potential project to expect the following timelines:
In Minnesota we see on average that it can take 12 to 18 months to design and permit a mitigation bank project. Another year or two to construct, revegetate, and establish native vegetation on the project. And another 5 to 7, or up to 10 years of ongoing monitoring and maintenane
In Wisconsin we see on average that it can take 12 to 18 months to design and permit a mitigation bank project. Another year or two to construct, revegetate, and establish native vegetation on the project. And another 5 to 7, or up to 10 years of ongoing monitoring and maintenance.
In Iowa we see on average that it can take 12 to 18 months to design and permit a mitigation bank project. Another year or two to construct, revegetate, and establish native vegetation on the project. And another 5 to 7, or up to 10 years of ongoing monitoring and maintenance.
The best way to determine a more precise timeline for your project is to contact us. Our experienced staff can virtually review your potential project with you and tell you up front on how much potential your project has in successfully being designed, permitted, constructed and maintained as a mitigation bank project. If there are any major challenges that could limit the success of your project. And if it is worth scheduling a site visit to the property to take a further look.
Mitigation Partners, Inc. Founders Dax Dickson & Tory Christensen
Resources:
Draft MBI-Madison County Wetland Mitigation Bank
Compensatory Mitigation Banking Rule Timeline for Bank or ILF Instrument Approval
