Mitigation Banks across the U.S.
In response to continued U.S. Congressional oversight, the Assistant Secretary of the Army, Civil Works Michael Connor issued a September 2024 memorandum “Improving U.S. Army Corps of Engineers Timeline Compliance with the 2008 Compensatory Mitigation Rule,” to USACE Headquarters(HQ) for immediate implementation.
Regulatory Chief Jennifer Moyer, from USACE HQ subsequently released guidance to Corps Divisions and Districts focused on implementation of the regulatory review timeline bound in the 2008 Final Mitigation Rule.
As all in the mitigation banking industry are aware and Corps public data reflects – approvals for mitigation banks and bank credit releases are invariably slow, inefficient, and often difficult. Some Mitigation Banking Instruments (MBIs) have been held in agency review for as long as 10 years before receiving an approval to go-ahead with the bank’s intended environmental restoration project.
Read the USACE Memo via the National Environmental Banking Association : Principles of Delivery for Mitigation Bank Decisions
