New Search
include any changes resulting from credit purchases and from conversion from <br /> uncertified to certified credit status. Based on a hypothetical situation, the following <br /> table indicates how the accounting system will operate during the 6-year cycle of the <br /> uncertified credit program: <br /> (1) (2) (3) (4) (S) (6) (7) (8) <br /> Period of Capital Maximum Maximum Balance of Total Numbs of Number of Balance of <br /> Improvement Plan Numbs of Numbs of Uncertified Uncertified Uncertified Remaining <br /> Potwtial Poteadal Credits from Credits Credits Sold Uncertified Uncertified <br /> Credits from Uncertified Prior Year Available for Gedits Credits <br /> CB' Credits Sale Certified <br /> (30°.6 of CIP) <br /> 1.Yean 1, 2, 3 20 6 0 6 2 0 4 <br /> 2.Ytars 2, 3, 4 13• 3.9 4 7.9 3.10 2 2.8 <br /> 3.Years 3, 4, S 23• 73 2.8 10.3 33 2 4.8 <br /> 4. Years 4, S, 6 8• 2.4 4.8 72 3.0 0 4.2 <br /> S. Years S, 6, l2• 3.6 4.2 7.8 0 0 7.8 <br /> 6. Years 6 6.4• 1.9 7.8 9.7 3.18 0 6S2 , <br /> <br /> • r year an or etetmintng maxunum poten uncerU le c its co ttmn o is app to on y to e <br /> potential credits that.can be realized from the "additional" year. For example, in the second year, the CIP cogers <br /> <br /> years 2, 3, and 4. 30% is applied only to the credits that can be realized from year 4 (7.5 credits). <br /> Within the annual report, the following information will be provided: <br /> (a) Maximum number of total potential credits based on approved CIP; <br /> (b) Maximum number of uncertified credits based on 30% of approved CIP; • <br /> (c) Number of potential credits resulting from approved Mitigation Improvement Plans; <br /> (d) Number of uncertified- credits authorized and available for sale; <br /> (e) Number of uncertified credits purchased (debits); <br /> (f) Number of uncertified credits certified; <br /> (e) Number of uncertified credits unsold at end of yeaz. <br /> ANNUAL REPORT <br /> The Program shall report to the MBRT, not less than annually, on the performance of <br /> the individual mitigation sites and the status of the Program's mitigation credit ledger. Not <br /> later than September of each yeaz, the Program shall prepaze and forwazd to the MBRT a <br /> report on the Program's activities for the preceding 12 month period, and a projection of the <br /> Program's activities for the next 12 month period. The Annual Report shall include: <br /> (1) An accounting of all mitigation credits created and sold during the preceding 12 <br /> month period. The bank credit ledger review shall include: .the number of credits <br /> certified during the yeaz; mitigation costs (land, planning and engineering design, <br /> construction, maintenance, remedial activities); the number of credits (certified and <br /> uncertified) purchased (i.e., debits); the revenues generated from .sale of credits; the <br /> remedial actions, if any, and associated costs; and recommended corrective actions, if <br /> any, to policy and procedure actions. <br /> (2) A description of the work to be performed during the next 12 month period at • <br /> individual mitigation bank sites, including work previously approved by the Corps and <br /> DSL which will create mitigation credits, as well as work to monitor and remediate <br /> Page 12 - MOA For West Eugene Wetlands Mitigation Banking Program <br /> <br />