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The Virginia Aquatic Resources Trust Fund

 

The Virginia Aquatic Resources Trust Fund

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Trust Fund in Brief

The Trust Fund program provides a form of compensatory mitigation referred to as In-Lieu-Fee for wetland and stream impacts associated with Section 404 and 401/Virginia Water Protection permits issued by the Corps and the Virginia Department of Environmental Quality (DEQ). 

The Trust Fund provides the option for a permit applicant to address compensatory mitigation requirements through contributing funds in lieu of completing their own mitigation projects for permitted stream and wetland impacts. 

Go Deeper

  • Snapshot of 2006-2007 Projects
  • Back to the Trust Fund
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    • The Virginia Aquatic Resources Trust Fund


    Who approves Trust Fund projects?     

    Regulatory agencies determine whether a permit applicant can use the Trust Fund as the selected mitigation option.  The Corps determines the amount that the permit applicant’s pays to provide the appropriate mitigation for the permitted impact. 

    The Conservancy holds the mitigation payments in an interest-generating account.  These payments are then used by the Conservancy to complete the required stream and/or wetland mitigation. 

    Potential projects are proposed by the Conservancy, and Corps must approve both the proposed project and the requested funding amount before starting the project. Potential and proposed projects are also coordinated with DEQ and United States Fish and Wildlife Service (FWS).  

    How do the Conservancy and regulatory agencies select projects?

    Conservancy Trust Fund staff pursue wetland and stream projects that meet a strict set of criteria.  Conservancy staff also review projects proposed by regulatory or advisory agencies, localities, consultants, and other conservation organizations.  Conservancy Trust Fund staff assist potential partners through the site review, proposal process, and implementation of funded activities.  The following items are considered during the identification/search for and review of a potential project:

    • Appropriateness of the site to provide mitigation for permitted impacts
    • Mitigation need and available funds in the project area (major river basin)
    • Likelihood of long-term success
    • Ability to permanently protect aquatic resources (ex. conservation easement)
    • Proximity to identified areas of concern, environmentally sensitive sites, or other protected lands
    • Project cost

    Contacts

    Additional details concerning the Trust Fund are included in the 2006 annual report (.pdf, 877KB).  A map of the project sites is also available (.pdf, 271KB).  If you are interested in reviewing a project for potential funding through the Trust Fund, please contact Karen Johnson (Land Protection Specialist) at 804-644-5800 ext. 16.

    Nature picture credits (top to bottom, left to right): Bottom Creek Gorge © Dana Blackmer Photography; Butterfly at the fork of the Rivanna River wetland © Mary Porter.