Mitigation Bank Program Overview

A mitigation bank is an environmental enhancement and preservation project that is conducted by a public or private entity ("banker") to provide mitigation for unavoidable wetland impacts within a defined region (mitigation service area). The bank is the site itself, and the currency sold by the banker to the impact permittee is a credit, which represents the wetland ecological value equivalent to the complete restoration of one acre. The number of potential credits permitted for the bank and the credit debits required for impact permits are determined by the permitting agencies, using the Uniform Mitigation Assessment Method (Chapter 62-345, F.A.C.). A mitigation bank permit is also an Environmental Resource Permit.