Wetland Banking
What is Wetland Banking?
Wetland banking is a process of tracking wetland and upland buffer credits that are designated for replacement of future wetland losses. These wetland credits may result from a prior replacement project with excess credits earmarked for banking, or from a wetland creation/restoration project done solely for the purpose of establishing wetland credits in the State Wetland Bank. Wetland banking allows wetland acreage to be purchased from an account holder who has an account of functioning wetland credits.
Who Controls Wetland Banking?
Wetland banking must conform to the requirements in the Wetland Conservation Act (WCA). Refer to this document for a complete description of the wetland banking process. The LGUs control the banking program as they must approve banking project plans and certify all deposits and withdrawals to ensure the wetland impacts meet sequencing requirements. The Board of Water and Soil Resources (BWSR) will maintain a record of deposits and withdrawals and oversee banking operations statewide. The sale of the credits remains with the account holder.
The bank maintained by BWSR is the only officially recognized wetland bank in Minnesota.
How Can a Landowner or LGU Participate?
The rules in WCA outline in great detail the necessary components of a banking plan. A several page banking plan application that identifies all the requirements is available at the Anoka Conservation District (ACD) or the BWSR website. Application requirements include, but are not limited to, several maps, a topographic survey, design specifications drawn to scale, the size, type and location of banking wetlands, sworn statements of site history, ownership and responsibility, a site resource analysis, a description of the methods to be used, Best Management Practices (BMPs) to be incorporated, and a full five year monitoring plan. Private consultants will be able to assist in plan development. For a list of consultants please contact the ACD.
