Mitigation Banks, In-Lieu Fee Programs and Permittee-Responsible Mitigation. Mitigation banks and in-lieu fee programs are generally the preferred options for mitigation because they consolidate resources and involve more financial planning and scientific expertise. These factors help reduce the risk of failure of mitigation projects. The following are acceptable mitigation options, listed in order of environmental preference as described in the mitigation rule:

A mitigation bank is one or more sites where aquatic resources such as wetlands or streams are restored, established, enhanced and/or preserved for the purpose of providing compensatory mitigation in advance of authorized impacts to similar resources. A bank sells mitigation “credits” to permittees. The obligation to provide mitigation is then transferred to the bank sponsor. The bank sponsor is then responsible for implementing the mitigation, monitoring its performance and long-term site management.

An in-lieu fee program involves the restoration, establishment, enhancement and/or preservation of aquatic resources through funds typically paid to state governments, local governments, or non-profit natural resources management organizations. As with banks, credits are sold to permittees by the in-lieu fee sponsor. The in-lieu fee sponsor is then responsible for implementing the mitigation, monitoring its performance and managing the site long-term

Individual mitigation projects constructed by permittees can also compensate for environmental impacts authorized by the Corps. This option makes the permittee responsible for implementing the mitigation, monitoring its performance and long-term site management. Mitigation projects may occur on the same site as the permitted project or at an offsite location usually within the same watershed. In some cases, permittee-responsible mitigation is the only option. This is typical when proposed impacts are not located within the service area of an approved mitigation bank or in-lieu fee program, or if these mitigation options would not provide appropriate mitigation for the proposed impacts.

RIBITS (Regulatory In lieu fee and Bank Information Tracking System) was developed by the U.S. Army Corps of Engineers with support from the Environmental Protection Agency, the U.S. Fish and Wildlife Service, the Federal Highway Administration, and NOAA Fisheries to provide better information on mitigation and conservation banking and in-lieu fee programs across the country. RIBITS allows users to access information on the types and numbers of mitigation and conservation bank and in-lieu fee program sites, associated documents, mitigation credit availability, service areas, as well information on national and local policies and procedures that affect mitigation and conservation bank and in-lieu fee program development and operation.

If you’re using a bank or in-lieu fee program you do not need to provide all of the components listed below. However, you should include a description of the baseline conditions at the impact site, the number and type of resource credits to be secured and how these were determined. If compensatory mitigation is required, you must submit a mitigation plan. There are 13 required components in every mitigation plan.