Despite formal pushback from The Nature Conservancy (TNC), The National Environmental Banking Association (NEBA), Virginia Department of Wildlife Resources (DWR), the U.S. Environmental Protection Agency (EPA) and others, the Virginia Department of Environmental Quality (VA DEQ) is moving forward with a new In-Lieu Fee (ILF) Program, apparently intended to supplant the longstanding state ILF - VARTF (Virginia Aquatic Resources Trust Fund).
DWR Correspondence Read Here TNC Objection Letter Read Here NEBA Letter Read Here EPA Letter Read Here
In emails and other information collected under FOIA (Freedom of Information Act) by the National Environmental Banking Association, it would appear that issues relating to VARTF's environmental compliance may have caused VA DEQ to decide to launch its own program - called Wetland and Stream Replacement Fund (WSRF)- without TNC.
NEBA believes strongly that mitigation stakeholders, Virginia taxpayers, and others are entitled to an honest accounting of where an estimated $100 million collected by VARTF has been spent to date, if not into Virginia's environment where the program intended.
Further, since any release of salable mitigation credits would have been approved by VA DEQ, the question needs to be asked - how can this agency be expected to police itself when indeed it apparently failed to properly police VARTF?
Watch NEBA for additional news releases on the current questions swirling in Richmond.
If you work in mitigation banking, ecological restoration, or ecosystem markets, there’s one event you can’t afford to miss this fall: 2026 NEBA Annual DC Fly-InSeptember 15–17 in Washington, DC Hosted by the National Environmental Banking Association (NEBA), this annual event brings industry leaders face-to-face with federal policymakers to influence environmental legislation and regulation that directly impact
Read MoreThe National Environmental Banking Association (NEBA) is pleased to announce the proposed Board of Directors slate that will be presented to members for election during the Annual Membership Meeting on September 16, 2026, as part of the NEBA Annual DC Fly-In in Washington, D.C.The proposed slate is:JEFF OYEN, ChairKEVIN MORAN, Vice-ChairKENNETH JESENSKY, Secretary/TreasurerROBERT SPOTH, Board
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