The purchase process begins with the regulating agencies' permitting process. Based upon permit application information and the functional assessment (see below) of the impacted wetlands, the agencies will determine the number of mitigation credits that will need to be purchased.
The Wetland Assessment Technique for Environmental Review (WATER) has been created to provide a tool for assessing the functional value of an impacted wetland. This assessment technique consists of two separate and distinct procedures. The first, a Functional Evaluation, is purely ecological in nature. The second is a Value Evaluation that reflects the impacted site's suitability, as measured by criteria rating the social significance provided by the area in question.
The functional evaluation is broken down into four main categories: (1) Fish and Wildlife, (2) Vegetation, (3) Landscape/Hydrology and (4) Salinity. The value evaluation parameters have been determined to be important to society and therefore are not measurable in a purely functional analysis. The site suitability evaluation matrix measures the societal values of the impacted site and is used when calculating the total number of credits needed to offset an impact. Instructions to complete a WATER score along with the functional evaluation and site suitability evaluation forms can be downloaded here.
Wetland Assessment Technique for Environmental Review Score Sheet
Mitigation Bank Wetland Function Evaluation & Impact Site Evaluation Matrix
Wetland Assessment Technique For Environmental Review Manual
Purchase and Sales Agreement
Once the number of credits is determined, a purchase and sales agreement will be executed. There are two options for payment of the purchase price. First, payment maybe made in full at the time the agreement is executed. Second, a deposit can be paid on the execution of the agreement and the balance paid in 90 days.