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The US Environmental Protection Agency (EPA) says that: Mitigation banking has the potential to play a significant role in the Section 404 regulatory program by reducing uncertainty and delays, as well as improving the success of wetlands mitigation efforts. Land owners needing to "mitigate" or compensate for authorized impacts to wetlands associated with development activities may have the option of purchasing credits from an approved mitigation bank rather than restoring or creating wetlands on or near the development site. A wetlands mitigation bank is a wetland area that has been restored, created, enhanced, or (in exceptional circumstances) preserved, which is then set aside to compensate for future conversions of wetlands for development activities. A wetland bank may be created when a government agency, a corporation, or a nonprofit organization undertakes such activities under a formal agreement with a regulatory agency. The value of a bank is determined by quantifying the wetland values restored or created in terms of "credits." Henderson and Bodwell has designed and monitored successful wetlands mitigation sites in New Jersey. Contact Michael A. DeGiglio, RLA at (516) 349-0829 or to learn all about it.
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Regency Park
