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LRL-2023-00681

Louisville District
Published March 13, 2024
Expiration date: 4/13/2024

COUNTY-STATE:  Owen County, Kentucky. | APPLICANT: Davey Mitigation c/o Davey Resource Group Inc. | PROJECT PURPOSE: To develop a stream mitigation banking instrument that would operate within the Commonwealth of Kentucky, providing stream mitigation credits.

DESCRIPTION OF WORK: The sponsor is proposing to establish a stream and wetland mitigation bank, Iron Eagle Mitigation Bank, on a 223 acre portion of an overall 362 acre property abutting Eagle Creek.

The sponsor proposes that credits for wetland enhacement at a 0.5:1 ratio, rehabilitation at a 0.8:1ratio, Re-establishment at a 1:1 ratio and establishment at a 1:1.  The sponsor proposes Stream credits be ratioed from .10 to 1. In all, once the bank has been deemed successful, the sponsor proposes that 6464 stream mitigation credits and 50.44 wetland mitigation credits would be generated for sale.  These credits are proposed to be available to the general public to provide compensatory mitigation for impacts authorized by other Department of the Army permits

The sponsor proposes that the Iron Eagle Mitigation Bank provides available compensatory mitigation for projects located in the Kentucky Resource-Based Pre-Defined Service Area 6 (Service Area),which includes the entirety or portions of the following counties: Anderson, Bath, Boone, Bourbon, Bracken,Bullitt, Campbell, Carroll, Fleming, Franklin, Gallatin, Grant, Harrison, Henry, Jefferson, Kenton, Lewis,Mason, Montgomery, Nelson, Nicholas, Oldham, Owen, Pendleton, Robertson, Scott, Shelby, Spencer,and Trimble. Davey Mitigation c/o Davey Resource Group, Inc, would provide long term managment for the site consistent with the proposed re-establishment and preservation proposal.  The site would be protected in perpituity by Conservation Easmenent being recorded with the property deed. The project would be monitored for a period of 10 years for wetlands and 7 years for streams to assure that the project meets the proposed objective, success criteria, and performance standards agreed on to determine the long term sustainability of the proposed project.