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"No Net loss" is the United States government's overall policy goal regarding wetlands preservation. The goal of the policy is to balance wetland loss due to economic development with wetlands reclamation, mitigation, and restorations efforts, so that the total acreage of wetlands in the country does not decrease, but remains constant or increases.
In early 2010, Lake Powell's owners submitted an application to turn the former lake into a wetlands mitigation bank, [6] credits from which could be sold to developers for up to $25,000 per acre. The plan caused immediate opposition from lake shore property owners who wanted the lake restored.
It supported off-site wetland mitigation in which a permittee purchases mitigation credits from a third-party mitigation bank. This entity, private, governmental, or non-governmental, promotes the no-net-loss policy by restoring or creating an area of wetland into a mitigation bank and selling compensatory mitigation credits to permittees.
In a 5-4 vote, the Supreme Court limits federal protection for wetlands in a property rights case, saying the Clean Water Act does not usually apply to the marshy areas.
In many cases those wetlands would now be exempt from protection and mitigation. The loss of state safeguards comes in conjunction with a weakening of regulations at the federal level.
The idea of "no net loss" emerged in the United States as a goal for applying environmental mitigation measures (such as mitigation banking) to wetland conservation. [15] This was motivated by the historic and ongoing loss of wetlands - over half of the original wetlands in the lower 48 states have been lost.
In the United States, compensatory mitigation is a commonly used form of environmental mitigation and, for some projects, it is legally required under the Clean Water Act 1972. Compensatory mitigation is defined by the US Department of Agriculture as "measures to restore, create, enhance, and preserve wetlands to offset unavoidable adverse ...
The spokesperson for Tarpon Woods Properties LLC said they want to turn the golf course into a wetlands preserve, but concerned residents are worried about the year-long construction, any future ...