ARRINGTON , Va. – The Tye River Mitigation Bank (TRMB) of central Virginia is pleased to announce its final federal and state approvals by the Virginia Inter-Agency Review Team (IRT). The fully permitted mitigation project occupies approximately 440 acres southeast of Arrington, in Nelson County, Virginia, and offers highest-quality stream mitigation credits.
Tillman Conservation, LLC., owner of the bank has established the project to offset required compensation for the loss of jurisdictional waters of the United States, including streams and riparian buffers, and their associated ecological functions and services related to unavoidable impacts. The Tye River Mitigation Bank serves a broad Geographic Service Area (GSA) and serves compliance for Section 404 of the Clean Water Act and Section 10 of the Rivers and Harbors Act.
Tillman Conservation, LLC has contracted with Trout Headwaters, Inc., headquartered in Livingston, Mont. to provide oversight and restoration services for the creation of the mitigation bank.
Mitigation Banks Help Developers Meet Environmental Regulatory Requirements
Mitigation banking aids in protecting nature and its diversity when the impact of increasing industrialization and urbanization affecting natural habitats, streams, and wetlands is unavoidable. For developers, securing credits from an approved bank is faster, less expensive, and more efficient than other methods of compensatory mitigation to keep projects moving forward.
“For developers, securing credits from an approved bank is faster, less expensive, and more efficient than other methods of compensatory mitigation to keep projects moving forward.”
Because mitigation banks have already restored units of affected natural resources in the process of earning credits, there is no time lag between the environmental impact at a service area and its restoration at a bank site – the restoration is done in advance. This system of mitigation banking effectively transfers the liability for ecological loss off the developer and to the mitigation banker. The mitigation banker takes on the responsibility to develop, maintain and monitor the offset site for the long term.
Tye River Mitigation Bank serves four major watersheds within all or portions of the following Virginia counties: Albemarle, Alleghany, Amelia, Amherst, Buckingham, Chesterfield, Goochland, Greene, Fluvanna, Nelson, Nottoway, Powhatan, Prince Edward, Rockbridge. The cities of Charlottesville, Columbia, Covington, Farmville, Lynchburg, Lexington all fall within the service area of the TRMB.
How to Purchase Credits from Tye River Mitigation Bank
To purchase credits, or for more information, contact the Bank at info@tyerivermitigation.com or (866) 725-8883.