Looking to Develop a Wetland?
- What are the required criteria for may land to be used a a mitigation bank?
Generally speaking, a good candidate is an area that is not currently wetland but than can be easily restored to wetland or where wetland can be created. Criteria frequently used to determine suitability include: hydric soils, certified wetland determination (Prior Converted land is best), areas mapped as wetland by the National Wetland Inventory, depressional areas that collect water and tend to drown out when cropped.
- How does the process work?
IAMI can review sites for suitability and likelihood for successful restoration. If the land seems appropriate for use as a bank, IAMI can purchase property by fee title or simply by permanent easement. IAMI pays for all restoration costs and manages the bank credit sales. IAMI is responsible for any needed maintenance actions while credits are available.
- What do I get out of selling my land?
The landowner may get paid at or near appraised value of the land and may retain fee title ownership.
- What/who determines the value of the land to be used for the Mitigation Bank?
IAMI determines suitability for use a mitigation bank site but financial value is determined by a third party appraisal.
- Am I selling the easement of the land and title to the Mitigation Bank?
IAMI has the ability to purchase either a permanent easement (in which case the landowner retains fee title ownership) or an outright sale of the land.
- Will the Mitigation Bank work in conjunction with other government programs i.e. CRP, WRP, etc?
Mitigation sites can not be enrolled in any USDA conservation programs. Sites that were previously enrolled in those programs, but whose contracts have been satisfied and completed, are eligible.
- Who maintains the land?
IAMB maintains the land while credits are available. Following bank closure, the fee title owner of the land (which may be IAMB, the landowner, or a third party) is responsible for maintenance with financial assistance from an IAMI established escrow fund.
- What maintenance is required?
Maintenance is generally minimal but may include invasive weed control, erosion control, or replacement of failed structures.
- Will the Mitigation Bank require public access?
Public access is not required.