If the Mitigation Bank proposal meets the criteria of Section
373.4136, F.S., Chapter 62-330,
F.A.C., and this chapter, the Agency shall issue a Mitigation Bank Permit to
the banker. An authorization under this section may be issued in two forms: a
Mitigation Bank Permit or a Mitigation Bank Conceptual Approval.
(1) The
Mitigation Bank Permit authorizes the
establishment, implementation and operation of the
Mitigation Bank, authorizes
the
construction, alteration, operation,
maintenance, abandonment or removal of
any surface water management system proposed within the
Mitigation Bank, and
sets forth the rights and responsibilities of the
banker and the
Department for
the implementation, management,
maintenance and operation of the
Mitigation
Bank. The
Mitigation Bank Permit shall include the following:
(a) A description of the Mitigation Service
Area.
(b) The maximum number of
Mitigation Credits available for use when the Mitigation Bank, or phase
thereof, is deemed successful, the type of Mitigation Credits awarded, and the
number and schedule of Mitigation Credits available for use prior to
success.
(c) The success criteria
by which the Mitigation Bank will be evaluated.
(d) The financial responsibility mechanism(s)
which must be employed by the banker, and provisions for adjustment of the
financial responsibility mechanism.
(e) Requirements for the execution and
recording of the conservation easement or conveyance of the fee interest as
provided in Rule
62-342.650, F.A.C.
(f) A ledger listing Mitigation Credits
available in the Mitigation Bank.
(g) A schedule for implementation of the
Mitigation Bank, and any phases therein.
(h) The perpetual management requirements for
the mitigation bank.
(i) The
conditions required under Chapter 62-330, F.A.C., for construction, alteration,
operation, maintenance, abandonment or removal of any surface water management
system proposed within the Mitigation Bank.
(2) A Mitigation Bank Permit shall
automatically expire five years from the date of issuance if the banker has not
recorded a conservation easement or conveyed fee simple interest, as
appropriate, over the real property within the Mitigation Bank, or phase
thereof, in accordance with the Mitigation Bank Permit; or, when no property
interest is required to be recorded, the Mitigation Bank Permit shall
automatically expire if no construction has been commenced pursuant thereto.
Except as provided above, a Mitigation Bank Permit shall be perpetual unless
revoked or modified.
(3) A
Mitigation Bank Conceptual Approval estimates the legal and financial
requirements necessary for the Mitigation Bank, information necessary for
evaluation of the Mitigation Bank Permit application, and potential Mitigation
Credits to be awarded pursuant to the Mitigation Bank Permit. The Mitigation
Bank Conceptual Approval does not authorize the use or withdrawal of Mitigation
Credits, or any construction within the Mitigation Bank. The level of detail
provided in the Mitigation Bank Conceptual Approval will depend on the level of
detail submitted with the application. A Mitigation Bank Conceptual Approval
shall be valid for a term of five years from the date of
issuance.
