Research the business side of banking
Setting up a wetland mitigation bank is much like setting up a store. The first step would likely entail doing some initial research to ensure the store's success. Along with understanding the physical and biological conditions that make a bank site suitable, here are some additional items to consider:
- Do local jurisdictions in the watershed allow wetland mitigation banks to be used to offset wetland impacts?
- Is the site appropriate for a bank? See our Guidance for watershed/landscape-based approach section on our Templates and guidance page.
- What does the site look like now and what activities would be needed to make it a bank?
- Is the site large enough to generate enough credits to make it viable?
- Do sponsors have the necessary qualifications to perform the actions or will consultants need to be hired?
- Do sponsors have the money to make a bank site that is ecologically appropriate and sustainable?
- Is the bank being set up for personal use or will it be used to sell credits to make a profit? And if you did have a bank site with credits to sell, are their buyers?
- After construction, what type of on-going maintenance and monitoring will the bank need?