Private mitigation bank credits

The North Carolina Department of Transportation (NCDOT) is seeking proposals for the purchase of mitigation credits required for compensatory mitigation needs of transportation projects within the Yadkin, 03040103 hydrologic unit. NCDOT is looking to purchase 18,000 stream credits and 5 acres of riparian wetland credits from approved mitigation bank sites. Proposals are due by August 23, 2024, and NCDOT intends to purchase the credits by January 31, 2033 to meet current project schedules. Proposers must be the owner, sponsor, or authorized agent of an approved mitigation bank within the specified hydrologic unit. The evaluation process will determine the best value credits based on unit price and credit status/maturity, with credits from approved sites with earlier release dates receiving more favorable pricing. NCDOT reserves the right to select the next best value credits from other proposals if the quantity offered in a single proposal is insufficient.

There are no set-aside designations or restrictions on the types of organizations that can respond to this opportunity. The successful proposer(s) will enter into a formal Mitigation Credit Purchase Agreement, which will require a performance bond or other approved security equal to the total purchase price of all released and unreleased credits. The value of this contract opportunity is not specified, but will depend on the total number of credits purchased by NCDOT.