A Mitigation Land Bank is a program designed to preserve environmentally sensitive natural land areas, including wetlands. The program is overseen mainly by the U.S. Army Corps of Engineers and the U.S. Environmental Protection Agency (EPA). Owners are required to set aside key portions of sensitive land, either on the development site or nearby, and they can sell credits to developers needing to offset the environmental impact of their projects.
Net Land refers to the usable land area remaining after accounting for non-usable portions, such as floodplains, wetlands, or other environmentally restricted zones. This concept is crucial for property valuation and development planning.
Uplands refer to land within a mitigation parcel adjacent to surrounding wetlands, which often have exotic plant species similar to those found in wetlands. They play a crucial role in ecological and environmental planning.
Wetlands are areas of land where water saturation is the dominant factor determining the soil and the types of plant and animal communities living there. Commonly recognized wetlands include marshes, swamps, bogs, and fens.
