Chalfont Mitigation Banking
PennDOT often requires environmental mitigation for its projects undertaken within its 11 engineering districts. The conventional approach is to develop one-off or project-specific mitigation sites that satisfy the specific environmental impacts of a given transportation improvement project.
A private sector partner, who submitted an unsolicited proposal, proposed to develop 140 acres for a wetland banking site in Bucks County. The land is already owned by PennDOT and is being proposed to provide on-demand mitigation credits for both PennDOT projects as well as other private-development projects.
An Industry Forum was held in December 2018 providing more information to interested parties with an opportunity to view the land. A Request for Qualifications (RFQ) was issued November 27, 2018 with an anticipated commercial close by the end of 2019.
Under the proposed P3 project, the private partner managing the mitigation bank is responsible for maintaining the land associated with the credits for a period up to 99 years.
Request For Qualifications
Updated January 29, 2019