Research the business side of banking
Setting up a wetland mitigation bank is much like setting up a store. Before you would set a store up, you would likely do some research to ensure your store's success. Along with understanding the physical and biological conditions that make a site suitable as a bank, here are some additional items to consider:
- Do local jurisdictions in the watershed allow banks to be used as mitigation for wetland impacts?
- What does the site look like now and what activities would need to be done to make this site a bank (i.e., enhancement, restoration, creation)?
- Do you have the qualifications to perform the necessary actions or will you need to hire wetland consultants or engineers?
- Is the site large enough to generate enough credits to make it viable?
- Do you have the money to make a bank site that is ecologically appropriate and sustainable?
- Are you setting up the bank for your own use or to sell credits to make a profit? If you did have a bank site with credits to sell, would you have buyers?
- After construction, what type of on-going maintenance and monitoring will the bank need?