62-342.850. Department or Water Management District Mitigation Banks

The Department or a District may construct, operate, manage, and maintain a Mitigation Bank under this section after obtaining a Mitigation Bank Permit from the appropriate reviewing Agency.

(1) The Department or District may apply to establish a Mitigation Bank by submitting a Mitigation Bank plan, meeting the applicable permitting criteria of this section, in one of the following formats:

(a) A Mitigation Bank plan identifying one or more parcels of lands to be acquired for mitigation site(s).

(b) A Mitigation Bank plan identifying one or more parcels of land in which the Department or District has a legal or equitable interest.

(2) Land Use Restrictions on Department or District Mitigation Banks. The Department or District shall maintain the land within the Regional Mitigation Bank pursuant to the terms of the Mitigation Bank Permit. Any change in the land use shall require a modification of the Mitigation Bank Permit.

(3) Notwithstanding any other provision of this chapter, the Department or District may sell, transfer, or use Mitigation Credits prior to acquiring the proposed mitigation site as set forth in its Mitigation Bank Permit.

(4) Financial Responsibility. A portion of the funds contributed to a Department or District Mitigation Bank from the sale of credits shall be dedicated for the construction and implementation of the Mitigation Bank, and a portion of the funds shall be dedicated for the long-term management of the bank as set forth in the Mitigation Bank Permit. Funds derived from the sale of Mitigation Credits which are not necessary for the construction, implementation, and long-term management of a Department or District Regional Mitigation Bank shall be dedicated for the initiation of other Department or District Mitigation Banks, or expansion of other Department or District land acquisition or restoration projects which improve regional ecological conditions.

(5) Procedures for Establishment of Mitigation Banks. Mitigation Banks established by the Department or Districts shall be permitted, as applicable, under the procedures in the Operating Agreements Concerning Environmental Resource Permitting, Management and Storage of Surface Waters Regulation, and Wetland Resource Regulation, as adopted by the Department paragraphs 62-113.100(3)(f), (m), (s), (x), and (aa), F.A.C.

(6) Each Water Management District is encouraged to establish at least two mitigation banks in the District not later than January 1, 1995, or report to the Secretary as to why such mitigation banks have not been established, any attendant problems to establishing such mitigation banks, and a proposed time frame for establishment of such banks.

Rulemaking Authority 373.4131, 373.4136(11) FS. Law Implemented 373.4131, 373.4135, 373.4136 FS. History–New 2-2-94, Formerly 17-342.850, Amended 12-12-94, 5-21-01, 2-19-15.