62-342.750. Mitigation Bank Permit and Mitigation Bank Conceptual Approval

If the Mitigation Bank proposal meets the criteria of Section 373.4136, F.S., Chapter 62-330, F.A.C., and this chapter, the Agency shall issue a Mitigation Bank Permit to the banker. An authorization under this section may be issued in two forms: a Mitigation Bank Permit or a Mitigation Bank Conceptual Approval.

(1) The Mitigation Bank Permit authorizes the establishment, implementation and operation of the Mitigation Bank, authorizes the construction, alteration, operation, maintenance, abandonment or removal of any surface water management system proposed within the Mitigation Bank, and sets forth the rights and responsibilities of the banker and the Department for the implementation, management, maintenance and operation of the Mitigation Bank. The Mitigation Bank Permit shall include the following:

(a) A description of the Mitigation Service Area.

(b) The maximum number of Mitigation Credits available for use when the Mitigation Bank, or phase thereof, is deemed successful, the type of Mitigation Credits awarded, and the number and schedule of Mitigation Credits available for use prior to success.

(c) The success criteria by which the Mitigation Bank will be evaluated.

(d) The financial responsibility mechanism(s) which must be employed by the banker, and provisions for adjustment of the financial responsibility mechanism.

(e) Requirements for the execution and recording of the conservation easement or conveyance of the fee interest as provided in Rule 62-342.650, F.A.C.

(f) A ledger listing Mitigation Credits available in the Mitigation Bank.

(g) A schedule for implementation of the Mitigation Bank, and any phases therein.

(h) The perpetual management requirements for the mitigation bank.

(i) The conditions required under Chapter 62-330, F.A.C., for construction, alteration, operation, maintenance, abandonment or removal of any surface water management system proposed within the Mitigation Bank.

(2) A Mitigation Bank Permit shall automatically expire five years from the date of issuance if the banker has not recorded a conservation easement or conveyed fee simple interest, as appropriate, over the real property within the Mitigation Bank, or phase thereof, in accordance with the Mitigation Bank Permit; or, when no property interest is required to be recorded, the Mitigation Bank Permit shall automatically expire if no construction has been commenced pursuant thereto. Except as provided above, a Mitigation Bank Permit shall be perpetual unless revoked or modified.

(3) A Mitigation Bank Conceptual Approval estimates the legal and financial requirements necessary for the Mitigation Bank, information necessary for evaluation of the Mitigation Bank Permit application, and potential Mitigation Credits to be awarded pursuant to the Mitigation Bank Permit. The Mitigation Bank Conceptual Approval does not authorize the use or withdrawal of Mitigation Credits, or any construction within the Mitigation Bank. The level of detail provided in the Mitigation Bank Conceptual Approval will depend on the level of detail submitted with the application. A Mitigation Bank Conceptual Approval shall be valid for a term of five years from the date of issuance.

Rulemaking Authority 373.4131, 373.4136(11) FS. Law Implemented 373.4131, 373.4135, 373.4136 FS. History–New 2-2-94, Formerly 17-342.750, Amended 5-21-01, 2-19-15.