New Jersey Mitigation Bank Enabling Instrument

• Category: Real Estate
• State: Multi-State
• Control #: US-RE-99-100-1
• Format: Word; Rich Text

Description

A mitigation bank is a wetland, stream, or other aquatic resource area that has been restored, established, enhanced, or (in certain circumstances) preserved for the purpose of providing compensation for unavoidable impacts to aquatic resources permitted under federal, state or local wetland regulation.  A mitigation bank may be created when a government agency, corporation, nonprofit organization, or other entity undertakes these activities under a formal agreement with a regulatory agency.