Notice of Proposed Rule

WATER MANAGEMENT DISTRICTS
Southwest Florida Water Management District
RULE NO: RULE TITLE
40D-4.091: Publications and Agreements Incorporated by Reference
PURPOSE AND EFFECT: The purpose and effect of the proposed rule is to allow a mitigation banker to request the District to require additional signatures, such as the representative of a financial institution providing funding for the mitigation bank, to authorize the withdrawal of mitigation credits.
SUMMARY: Appendix 4 of the ERP Basis of Review established criteria for the establishment and use of mitigation banks. Section 6 of Appendix 4 provides criteria regarding the withdrawal of mitigation credits from a mitigation bank. These criteria require the mitigation banker to demonstrate that mitigation credits have been reserved, sold, or transferred to a permit applicant and to request that the District withdraw these credits from the bank’s credit ledger. In many cases, the banker is not a single individual but a partnership comprised of multiple parties. In such cases, it is sometimes desirable from the banker’s perspective to require the approval of all partners prior to withdrawal of mitigation credits. Additionally, there may be a financial lending institution requesting the opportunity to approve credit withdrawals in support of a loan to the mitigation banker. In these cases, a process requiring approval by multiple entities prior to credit withdrawal may be in the best interest of the mitigation bank. The specific rule revision proposed to accomplish this purpose is the insertion of a single sentence in Section 6 of Appendix 4 stating “At the request of the banker, the District shall require additional signatures to authorize the withdrawal of mitigation credits.” Rule 40D-4.091, F.A.C., incorporates by reference those documents and agreements cited within ERP rules. Coincident with the proposed revision to Section 6 of Appendix 4, this section must also be revised to indicate the effective date of the proposed revisions to the Basis of Review.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 373.046, 373.113, 373.171, 373.414 FS.
LAW IMPLEMENTED: 373.114, 373.171, 373.403, 373.413, 373.414, 373.416, 373.429, 373.441 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Karen E. West, Deputy General Counsel, Office of General Counsel, 2379 Broad Street, Brooksville, FL 34604-6899, (352)796-7211, extension 4651

THE FULL TEXT OF THE PROPOSED RULE IS:

40D-4.091 Publications and Agreements Incorporated by Reference.

The following documents are hereby incorporated into this chapter and Chapters 40D-40 and 40D-400, F.A.C.:

(1) Environmental Resource Permitting Information Manual Part B, “Basis of Review, Environmental Resource Permit Applications within the Southwest Florida Water Management District, ________ September 25, 2007”. This document is available from the District upon request.

(2) through (4) No change.

Specific Authority 373.044, 373.046, 373.113, 373.171, 373.414 FS. Law Implemented 373.0361, 373.114, 373.171, 373.403, 373.413, 373.414, 373.416, 373.429, 373.441 FS. History–New 4-2-87, Amended 3-1-88, 9-11-88, 10-1-88, 4-1-91, 11-16-92, 1-30-94, 10-3-95, 12-26-95, 5-26-96, 7-23-96, 4-17-97, 4-12-98, 7-2-98, 12-3-98, 7-28-99, 8-3-00, 9-20-00, 6-12-01, 10-11-01, 2-27-02, 7-29-02, 3-26-03, 7-23-03, 8-3-03, 3-11-04, 6-7-04, 2-1-05, 6-30-05, 10-19-05, 2-8-06, 5-2-06, 7-1-07, 9-25-07, 11-26-07,________.

 

Environmental Resource Permitting Information Manual

Part B, Basis of Review

APPENDIX 4 – Basis of Review For The Establishment And Use of Mitigation Banks

(1) through (5) No change.

(6) Establishment of Mitigation Credits.

(a) through (f) No change.

(g) The District shall maintain a ledger of the mitigation credits available in each mitigation bank. Mitigation credits shall be withdrawn as a minor modification of the mitigation bank permit.

(1) through (2) No change.

(3) At the request of the banker, the District shall require additional signatures to authorize the withdrawal of mitigation credits.


NAME OF PERSON ORIGINATING PROPOSED RULE: Karen E. West, Deputy General Counsel, Office of General Counsel, 2379 Broad Street, Brooksville, FL 34604-6899, (352)796-7211, extension 4651
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Southwest Florida Water Management District Governing Board
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: October 30, 2007
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: December 21, 2007