Conservation and Mitigation Banking

PROCEDURES

A conservation/mitigation bank is land protected in perpetuity and managed for its natural resource values. The bank owner sells habitat credits to developers or others who are required to compensate for the environmental impacts of their activities or who wish to fund land conservation efforts. Conservation/mitigation banks are an effective tool for implementing regional conservation plans, but are also developed in the absence of a conservation plan.

The Department has established several policies regarding the formation and requirements of conservation banks which should be consulted. Creation of a bank is generally done in close coordination with the Department and U.S. Fish and Wildlife Service, and the Army Corps of Engineers in the case of wetland banks. The federal guidance regarding the establishment, use, and operation of mitigation banks should be consulted during wetland bank development to assure consistency with federal policy.

Factors to consider when evaluating a potential conservation/mitigation bank include location (relative to proposed/existing preserve areas, core habitat or linkage areas), type and quality of the habitat(s) (onsite habitat value), restoration potential of the site, species occupying the site, value to particular species, and potential for long-term conservation value of the property.

The process (PDF) for identifying and developing a conservation bank involves several steps. These steps include identifying a biologically suitable location, determining if the site will meet the financial goals of the bank owner, processing a banking agreement, and establishing a conservation easementto permanently protect the site.

Formal establishment of a conservation or mitigation bank is accomplished through a bank agreement signed by the wildlife agencies and the bank owner/operator. The Department has developed a bank agreement checklist to assist potential bank operators assure they will meet all the necessary criteria.

After all the components are assembled, the bank agreement goes through a Department review process. This process assures that the bank has been developed consistent with policy. If approved and the conservation easement is recorded the bank can open for business!