August 2nd is approaching, and that is the deadline for proposals to create a wetland mitigation bank. The USDA Natural Resources Conservation Service (NRCS) is investing $7 million to support the development of wetland mitigation banks for agricultural producers through the Wetland Mitigation Banking Program (WMBP).
Through wetland mitigation banks, wetlands are restored, created or enhanced, generating credits that can be purchased by producers looking to compensate for unavoidable impacts to wetlands at another location. The funding is available to Tribes, government entities, nonprofits and other organizations.
When a mitigation bank is established, the landowner retains ownership and use of the property, while a conservation easement protects the wetlands from incompatible degrading activities. Awardees can request up to $1 million for a project, which may last up to four years.
NRCS is accepting WMBP proposals at Grants.gov through August 2, 2024.