for long-term management shall be included in any lease, sale, or other conversion and
shall run with the property.
(2) Long-term management is the responsibility of the mitigation bank sponsor and
shall include site maintenance, monitoring of wetland conditions, remedial action
needed to fully establish and maintain wetland characteristics in accordance with
permit requirements, and notification of subsequent owners of limitations on the
property. The bank sponsor shall submit a long term management plan as part of
the mitigation banking agreement. Responsibility for the long-term management of
a wetland mitigation bank may be transferred through the sale or lease of the property
or through an agreement with another person if the department approves of the transfer
and if the mitigation banking agreement is amended accordingly.
(3) The bank sponsor may enter into a legal agreement with a state or local agency or a
nonprofit resource management organization to manage the mitigation bank for a
particular purpose as defined in the banking agreement. In this instance, the long-term
management entity shall sign the banking agreement.
(4) Before the use of any credits from an approved wetland mitigation bank, the bank
sponsor shall provide financial assurances in the form of a performance bond,
irrevocable letter of credit, or equivalent legal instrument that is sufficient to
guarantee that mitigation bank establishment, monitoring, and, if necessary, remedial
action will be carried out in accordance with the mitigation banking agreement. The
mitigation banking agreement shall define the form and amount of the financial assurance
to be provided and shall also define the temporal limits on the financial assurances tied
to the achievement of performance standards that define the establishment of a fully
functional, self-sustaining wetland. If the wetland by design is not self-sustaining, that is,
if maintenance is required for dikes, dams, water control structures, or other
components essential to the preservation of functional wetlands on the site, then the
bank sponsor shall make financial provisions for perpetual management and
maintenance. A state agency that sponsors a mitigation bank may enter into a formal
interagency agreement with the department to guarantee long-term protection and
management of the mitigation bank instead of providing financial assurances.
History: 1997 AACS.
R 281.960 State priority wetland restoration areas.
Rule 10. (1) The department may, in cooperation with the department of natural
resources, designate priority wetland restoration areas in large former wetland
complexes which have been impacted by significant historic loss or degradation of
wetlands and which have a high potential for successful wetland restoration. Areas
so designated may include either public or private lands, but must have the potential to
provide the public with vital wetland functions after ecologically sensitive restoration
of wetland areas.
(2) The department shall develop a management plan for each designated priority
wetland restoration area and shall consider the concerns of the department of natural
resources and the potential of the area to provide critical wetland for any of the