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AGREEMENT TO ESTABLISH THE MITIGATION BANK IN COUNTY, WISCONSIN This Mitigation Banking Instrument (MBI) is made and entered into on , 20 , hereinafter the Sponsor, and the U. S. Army Corps of Engineers

How to fill out wetlands mitigation purchase agreement

How to fill out wetlands mitigation purchase agreement

1. Identify the parties involved in the agreement including the buyer and seller.
2. Specify the location and description of the wetlands that will be mitigated.
3. Detail the mitigation requirements and obligations of both parties.
4. Include the purchase price and payment terms.
5. Outline any reporting or monitoring requirements post mitigation.
6. Review and finalize the agreement with legal counsel to ensure all necessary components are included.

Who needs wetlands mitigation purchase agreement?

1. Developers who are impacting wetlands through construction or development projects.
2. Government agencies requiring wetland mitigation as a condition for permits.
3. Landowners looking to preserve or protect wetlands on their property.

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What is wetlands mitigation purchase agreement?

A wetlands mitigation purchase agreement is a legal contract that facilitates the purchase of credits from a wetlands mitigation bank to offset the environmental impact of development activities that affect wetlands.

Who is required to file wetlands mitigation purchase agreement?

Developers or entities proposing projects that impact wetlands are typically required to file a wetlands mitigation purchase agreement.

How to fill out wetlands mitigation purchase agreement?

To fill out a wetlands mitigation purchase agreement, one must provide details about the project, the extent of wetlands impacted, the specific credits being purchased, and any relevant information about the mitigation bank.

What is the purpose of wetlands mitigation purchase agreement?

The purpose of a wetlands mitigation purchase agreement is to ensure that developers compensate for wetlands loss by restoring, enhancing, or preserving wetlands elsewhere, thereby maintaining ecological balance.

What information must be reported on wetlands mitigation purchase agreement?

Key information required includes the project details, wetland impact assessment, credit type and amount purchased, the mitigation bank details, and compliance with local environmental regulations.