NR 350.008(5)(b)2. 2. Any legal mechanisms required as part of the mitigation site’s long-term management.

NR 350.008(5)(b)3. 3. A description of planned long-term management needs and actions including a schedule of predicted activities.

NR 350.008(5)(b)4. 4. An annual cost estimate to complete the long-term management needs and actions.

NR 350.008(5)(b)5. 5. A description of the funding source or mechanism that will be used to pay for long-term management needs and actions, including the planned investment, forecasted fund growth, and a narrative describing the sustainability of the funds.

NR 350.008(5)(c) (c) A mitigation bank sponsor may choose to be responsible for the long-term management or they may propose to transfer the responsibility to a land stewardship entity, such as a public agency, non-governmental organization, or private land manager.

NR 350.008(5)(d) (d) The department may consider any of the following as viable long-term funding mechanisms:

NR 350.008(5)(d)1. 1. Non-wasting endowment.

NR 350.008(5)(d)2. 2. Legally established trusts.

NR 350.008(5)(d)3. 3. Contractual agreements with future responsible parties.

NR 350.008(5)(d)4. 4. Other legally established funding mechanisms, as appropriate.

NR 350.008(5)(e) (e) A mitigation bank sponsor may propose to transfer control and responsibility of the long-term management funding source to a land stewardship entity, such as a public agency, non-governmental organization, or private land manager.

NR 350.008(6) (6) Public notice.

NR 350.008(6)(a) (a) The department shall provide online public notification for a received prospectus.

NR 350.008(6)(b) (b) The department shall develop a public notice for each prospectus to include all of the following information:

NR 350.008(6)(b)1. 1. The name of the mitigation bank sponsor.

NR 350.008(6)(b)2. 2. A brief description of the mitigation bank including all mitigation bank sites.

NR 350.008(6)(b)3. 3. The name, email address, and phone number of a department staff member who can receive comments and respond to questions.

NR 350.008(6)(b)4. 4. A date by which the department will accept and consider comments.

NR 350.008(6)(c) (c) The department shall distribute the public notice to appropriate news media in the vicinity of the proposed action.

NR 350.008(7) (7) Review fee. The department shall charge a fee pursuant to s. 281.36 (12) (b), Stats., for reviewing, investigating, and making decisions to approve or not approve mitigation bank instruments at the time that a mitigation bank sponsor submits a draft mitigation bank instrument to the department. The submittal fee for a draft mitigation bank instrument shall be $800.

NR 350.008 History History: CR 21-026: cr. Register February 2022 No. 794, eff. 3-1-22; correction in (1) (c) 4., 5., (e), (f) 1., 2., 3., (2) (a), (4) (b) made under s. 35.17, Stats., Register February 2022 No. 794.

NR 350.009 NR 350.009 Mitigation bank operation.

NR 350.009(1) (1) General.

NR 350.009(1)(a) (a) An approved mitigation bank instrument is the record of department and interagency review team concurrence on the objectives and administration of a mitigation bank. The secretary or the secretary’s designee shall sign for the department and this signature on the mitigation bank instrument constitutes department approval of the bank.

NR 350.009(1)(b) (b) A mitigation bank sponsor is responsible for establishing a mitigation bank site in accordance with an approved mitigation bank instrument, administration of the accounting of debits and credits, conducting required corrective actions, providing required monitoring and status reports to the department, and assuring long-term maintenance and protection of the site. A mitigation bank sponsor may request that the department include more than one compensation site in a mitigation bank instrument.

NR 350.009(1)(c) (c) Participation in the establishment of a mitigation bank does not constitute ultimate authorization for specific activities, as excepting the activities from any applicable requirements, or as pre-authorizing the use of credits from that bank for any activity.

NR 350.009(1)(d) (d) By January 30 of each year that a mitigation bank is in operation, the mitigation bank sponsor shall provide a report to the department that provides an accounting of credits and debits using the format described in the mitigation bank instrument under sub. (3) (i).

NR 350.009(2) (2) Construction monitoring.

NR 350.009(2)(a) (a) The mitigation bank sponsor shall inform the department of the progress of construction and shall provide full access to the department for site inspections.