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. The Program shall perform any necessary maintenance ~ of wetlands plants and <br /> _ hydrological functions on all mitigation bank sites for which the Corps and DSL have certified <br /> credits. Maintenance activities shall seek to maintain the wetland functions and values of <br /> mitigation bank sites, consistent with the standards and criteria of the Plan. <br /> In the event that a mitigation bank site fails to provide expected wetlands functions and <br /> values during the monitoring period, the Program shalt determine the cause of the failure and <br /> develop a plan for submission to the MBRT outlining the corrective measures to be taken <br /> bused on the ecological conditions of the site. Management activities shall continue until the <br /> standards aze met. <br /> Upon completion of the monitoring period and evidence that the bank site has <br /> performed according to required standards, the Program may request from the Corps and DSL <br /> approval to release any remaining financial. guarantee funds which had been reserved and set <br /> aside for that site. The Corps and DSL shall respond to the request within 30 days. - If no <br /> response is provided .within that 30 day period, the request shall be deemed approved and the <br /> Program may use those remaining funds for other Program activities. ~ - <br /> ACCOUNTING AND USE OF MITIGATION CREDITS <br /> The Program shall maintain a ledger of all mitigation credits created (i.e., certified. by <br /> the. Corps and DSL), and of all mitigation credits sold, including both certified and uncertified <br /> credits. The Program's accounting shall include mitigation credits created by each mitigation <br /> bank site (i.e., the credits certified by the Corps and DSL for. each mitigation bank site), the <br /> numbers of mitigation credits • available for sale and sold . to date, costs associated with <br /> mitigation credits and operation of the Program, mitigation .sites for which all mitigation credits <br /> have been sold, amounts received in payment for mitigation credits, and other amounts or <br /> ,assets received for operation of the Program or fulfillment of its goals and objectives. Any <br /> party may review the Program's accounting records upon request and after. reasonable notice. <br /> The Program shall create and sell a "uniform", credit, regazdless of the mitigation <br /> <br /> . ~ method (i.e., restoration, creation,- enhancement or preservation), the wetland type (i.e., wet <br /> prairie grasslands, scrub-shrub, forested, emergent open water, disturbed agricultural), or the <br /> type of wetlands being impacted by •development for which mitigation credits ,aze required. <br /> The Program shall establish • a price for the sale of mitigation credits sufficient to <br /> recover all of the Program's costs .associated with creating mitigation credits on mitigation bank <br /> sites, including costs of site prepazation, seeding, planting, monitoring, maintenance, remedial <br /> activities, and an allocable amount for Program administration. The Program shall review the <br /> price of credits not less .than annually, and shall include within the Annual Report the then- <br /> current price for credits, as well as any planned adjustment to the price. . <br /> Sale of mitigation bank credits shall be limited to certain geographic locations identified <br /> in Map 2 of Appendix C. First priority for sale of credits shall go to compensate for impacted <br /> areas within the West Eugene Wetlands Study Area. Second priority shall go. to impacted sites <br /> M ~ within the Urban Growth. Boundary for the City of Eugene and at the Eugene Airport. Finally, <br /> mitigation credits can be sold to compensate for wetlands loss outside these other azeas, but <br /> Page 10 - MOA For West Eugene Wetlands Mitigation Banking Program <br /> <br />