National wetland mitigation banking study. Commercial wetland mitigation credit ventures: 1995 national survey

Date

1996

Authors

Scodari, P.
Brumbaugh, R.

Journal Title

Journal ISSN

Volume Title

Publisher

U.S. Army Corps of Engineers

Abstract

Many recent banking arrangements involve commercial ventures developed by private entrepreneurs, non-profit entities, and public agencies to create mitigation credits for sale to permit applicants in need of compensatory mitigation. In the summer of 1995, the U.S. Army Corps of Engineers, Institute for Water Resources, asked the Corps Districts to provide information on operating and prospective commercial credit ventures in their regions. This report presents the results of this survey and includes information gathered in follow-up contacts, such as information on the specific markets served by ventures, the source of capital used for producing mitigation wetlands, and the financial objective of ventures. Finally, this report provides six detailed case studies of operating credit ventures that are representative of the different venture types identified. Several conclusions were drawn. A wide variety of institutional arrangements are being utilized to implement and make available wetland mitigation banking to third party users. Between 1993 and 1995, the ventures that supply these arrangements quadrupled. Implementation is very spotty, however, with the majority of banks concentrated in certain regions of the U.S. Among other things, there appears to be a need for a model banking instrument, to ease and speed the process of developing bank agreements.

Description

55 p.

Keywords

wetland mitigation banking, wetland mitigation markets, compensatory mitigation, entrepreneurial banking, commercial banking, wetland management

Citation