07/29/2009 Env Bd Packet - Laserfiche WebLink

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9. VOLUME CREDITS AND BANKING. An applicant may receive credit from the • District for stormwater volume reduction measures that provide more attenuation than required under this Rule. The volume reduction measures must be included in the project design and the application must include a statement of intent to generate excess credits. Measures receiving credit will be protected in perpetuity by recorded covenants on a form approved by the District. Credits may be used to meet the requirements of paragraphs 8(a) and (b) of this Rule. The District will maintain credit and credit transaction records, but credit transactions will be arranged by the interested parties. For District purposes, a volume credit is the property of the owner of the land on which the credit was created and may be conveyed only to meet a present obligation under this Rule. The following will be used to determine credits for volume reduction measures: (a) Banked volume credits may be applied to meet volume control requirements elsewhere within the RMP -3 area. Volume credits created in excess of the requirement of paragraph 8(c) are bankable only for Reestablishment of Effectively Drained Wetlands and Floodplain Meadows, Upland Restoration /Conservation, and Restoration of Degraded Wetlands as listed under paragraph 8(c). The District will administer the accumulation and sale of credits, but the price for the credits will be established by negotiation between the interested parties. The District will require proof of purchase and will track debits and credits. (b) Conditions for Volume Credits The following restoration activities qualify for volume credits, pursuant to a design approved by the District: • (i) Reestablishment of Effectively Drained Wetlands — Restoring hydrology and native vegetation to an effectively drained wetland. (a) The wetland must be in hydric soils. (b) The wetland area receiving credit must be fully vegetated. Credit will be given for the emergent vegetated part of a restored wetland based on the approved restoration plan design. (c) Reestablished wetland area must be protected in perpetuity by means of recorded covenants. (d) Soil excavation /alteration activity that results in a final surface elevation at or below the groundwater table is not eligible for credit. (e) Wetland treatment systems required to meet paragraph 8(b)(i) do not qualify for this credit. (f) Conservation easement is required over reestablished wetland area. (ii) Upland Restoration /Conservation - Conservation of high quality upland areas with a Natural Heritage ranking of "C" or better or restoration of Native Prairie, Woodlands or Forests. (a) Volume credit will be given only for area protected in perpetuity by recorded covenants in favor of the District. (b) Volume credit will be given only for area contiguous with a Wetland Preservation Corridor OR area of at least 0.5 acres not contiguous with the Wetland Preservation Corridor. 411 (c) Volume credit will be given only for buffer area in excess of the minimum requirements of paragraph 7(c).