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Benefits
of Wetland and Stream
Mitigation Banking
Low Cost. In traditional off-site mitigation,
landowners must pay for suitable land, engineering reports,
wetlands studies and earthwork before new wetlands can
be created. Once created, these new wetlands are subject
to additional annual supervision and maintenance costs
to ensure their survival. In addition, intangible costs
associated with liability issues make it nearly impossible
for a landowner to accurately estimate the ultimate cost
of traditional off-site mitigation. By eliminating these
expenses, Byrd Creek provides a mitigation solution with
a substantial cost savings.
Elimination of Liability. In traditional
off-site mitigation the developer and landowner are liable
for the success of a wetland project over a five year
period. Since the creation of wetlands is an expensive,
complex and time-intensive process, a developer can incur
significant costs to rebuild a wetland project if it should
fail. A developer who buys wetlands from Byrd Creek faces
no uncertainty about a mitigation project's success because
Byrd Creek assumes all liability.
Comprehensive Solutions. Developers can
spend up to 18 months gaining approval for a wetland mitigation
plan. Each plan requires approval from the U.S. Army Corps
of Engineers, U.S. Fish & Wildlife Service, U.S. Environmental
Protection Agency, Virginia Department of Environmental
Quality and Local permitting agencies. Since Byrd Creek
has been pre-approved by these agencies, landowners are
released from this time-consuming task which frees them
to focus on their development project.
Monitoring and Compliance. Byrd Creek,
in essence, consolidates numerous small off-site wetland
mitigation projects. This consolidation improves the agencies'
ability to monitor projects, thereby improving their efforts
to restore, create and enhance wetlands for mitigation
purposes.
FOR WETLAND AND STREAM CREDIT
SALES,
PLEASE CONTACT: Kelby Morgan- kmorgan@liesfeld.com |
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