La. Admin. Code tit. 43 § XXXI-111

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXXI-111 - NRD Restoration Banking Program Requirements

A. In determining the eligibility of a proposed NRD restoration bank, the BRT shall consider the following factors:

1. the potential restoration bank sponsors compliance history, including but not limited to compliance with federal, state, parish, and local laws, rules, regulations, policies, and programs;

2. the proposed financial assurances submitted pursuant to these regulations;

3. the sponsors proposed actions to restore, rehabilitate, or replace the equivalent of natural resources and services likely to be injured by oil spills in the Louisiana coastal area;

4. how the implementation of the NRD restoration bank will affect (positive or negative) natural resources, cultural resources, land ownership, and encumbrances;

5. whether the NRD restoration bank is consistent with the goals and objectives of the coastal master plan; and

6. any other information deemed appropriate by the BRT.

B. Coastal Master Plan

1. To be eligible for the NRD restoration banking program, proposed banks must be consistent with the goals and objectives of the coastal master plan. To be considered consistent with the goals and objectives of the coastal master plan, the proposed NRD restoration bank must strive to achieve one or more of the coastal master plans objectives and must not be detrimental to or conflict with any of the projects contained in the coastal master plan.

2. CPRA prefers proposed NRD restoration banks that are included as projects in the coastal master plan, or that are increments, add-ons, or enhancements of coastal master plan projects. NRD restoration banks implementing coastal master plan projects perform restoration in areas the state has designated as high priority, providing elevated ecological benefit and increased sustainability. To incentivize such banks, the BRT will examine and take advantage of efficiencies in project review for banks that propose to implement coastal master plan projects. For example, the BRT will consider information regarding and analyses of projects the State has already performed through the coastal master plan development process, as well as any engineering, design, and permitting already performed. The BRT may further elect to reduce information required in the prospectus scope of work or provide a more favorable schedule for credit release, contingent on sufficient financial assurance. The BRT shall make decisions regarding the application of these and other incentives on a case-by-case basis and only where consistent with the requirements of OPA and OSPRA.

La. Admin. Code tit. 43, § XXXI-111

Promulgated by the Office of the Governor, Coastal Protection and Restoration Authority, LR 431356 (7/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:214.5.2.