Description
The Natural Resources Conservation Service (NRCS) is announcing the availability of $3 million in grant funds for the development and establishment of mitigation banks and banking opportunities solely for agricultural producers with wetlands subject to the wetland conservation compliance provisions of the Food Security Act of 1985. The program aims to support the establishment of wetland mitigation banks to create credits for USDA program participants. Eligible entities include city or township governments, county governments, for-profit organizations, Native American tribal governments, and non-profits. The program requires a 20% cost share from non-federal funding sources.
• Eligible entities must operate and manage all aspects of the wetland mitigation bank with technical oversight by NRCS.
• Proposed projects must be performed in any of the 50 states, the District of Columbia, the Caribbean, and the Pacific Islands.
• Priority will be given to banks in states with significant numbers of individual wetlands, wetland acres, and conservation compliance requests.
• The program requires a sound marketing plan for marketing the wetland bank to USDA program participants.
• The budget must be clearly justified, demonstrating efficient use of resources with minimal administrative overhead.