Wetland Mitigation Banking
Wetland mitigation banking, as defined by the USDA, is the restoration, creation or enhancement of wetlands for the purpose of compensating for unavoidable impacts to wetlands at another location. A mitigation project generates credits that may be purchased on an open market by developers as compensation for the wetlands they impacted. For any wetlands regulated by the Clean Water Act, any development that impacts a wetland must restore wetlands nearby of similar function at least a 1 to 1-acre ratio. What wetlands are or are not under the jurisdiction of the Clean Water Act is currently a matter of great debate. The Clean Water Act regulates “navigable waters”, but the U.S. Army Corp of Engineers and the EPA has stretched the definition of navigable waters ever since the act was passed.
The profitability of a wetland mitigation project on Venetucci Farm is very uncertain. Only a site inspection and analysis from a firm specializing in such wetland projects could provide a clear idea of whether it is the right choice for Venetucci.
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