Major General Scott A. Spellmon has issued new guidance regarding Mitigation Bank Credit Release Schedules and Equivalency in Mitigation Bank and In-Lieu Fee Program Service Areas, addressing head-on two areas of historic concern for members of the Environmental Banking Industry. The new guidance for USACE District Engineers applies to mitigation banks and in-lieu fee programs not yet approved, and allows for sponsors of already approved projects to amend their existing mitigation banking instruments.
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The mitigation banking industry is at a pivotal moment. Regulatory shifts, evolving interpretations of the 2008 Mitigation Rule, and increasing pressure from alternative mitigation programs are reshaping the landscape. In this environment, a unified voice is not just beneficial—it’s essential. That’s where membership in the National Environmental Banking Association (NEBA) makes a difference.
Read MoreAccording to US Army Corps of Engineers (USACE) data, there are more than 8 million Advance Mitigation Credits sitting on the ledgers of the many dozens of In-Lieu Fee (ILF) Programs across the United States today, nearly all of which are exempt from any financial assurance that the mitigation projects will actually be performed.
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