The Michigan Department of Environmental Quality announced it will take grant and loan applications for its Wetland Mitigation Banking Fund Program (WMBF) starting on July 1, 2014. The WMBF provides grants and low interest loans to eligible municipalities interested in developing a wetland mitigation bank. The primary purpose of the program is to promote the development of bank sites in areas that don’t currently have them.
Grants can be used to:
- develop a wetland banking proposal,
- notify local units of government and adjacent property owners,
- plan and design a wetland bank, and
- complete the WMBF program loan application or a loan application for other funding sources.
Loans can be used to:
- complete the banking agreement,
- complete engineering and design for the bank,
- purchase land for the bank,
- construct the bank, and
- conduct monitoring and maintenance of the bank.
MDEQ will hold a Webinar on June 25, 2014, at 9:30 a.m. to provide information on this new program. You can also learn more at MDEQ’s WMBF website.