National wetland mitigation banking study: First phase report

This interim report presents the accomplishments during phase one of the two phase National Wetland Mitigation Banking Study being conducted by the U.S. Army Engineers Institute for Water Resources. This report presents results of: a nation wide inventory of existing and proposed banks; detailed study and analysis of selected banks; analysis of fee-based compensatory mitigation alternatives; examination of the concept of private commercial banking; exploration of potentials for banking within a watershed planning framework; evaluation of potential to contribute to national wetland goals, evaluation of application of banking to Corps of Engineers programs; and recommendations for the next study phase. Existing banks represent a variety of institutional arrangements, although single-client banks sponsored by state departments of transportation are the most common. When examined individually, many banks seem to have deficiencies. However, despite these deficiencies, the majority are generally functioning as planned or have expectations to function. With few and mostly very recent exceptions, banks have not incorporated market-based mechanisms.