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DMS deputy director: mitigation 'surplus' credits transferred in 2003 remain in inventory
Summary
Deputy Director Jim Stanfel told the committee that DMS still holds credits transferred to the Ecosystem Enhancement Program in 2003, that historical project costs are not fully available, and that payments for credit purchases are deposited into NCDOT’s in-lieu fee program.
At the committee’s special-called meeting, Jim Stanfel, deputy director at the Division of Mitigation Services, said the division still has a "substantial amount of credits" that were transferred to the Ecosystem Enhancement Program in 2003 and that some of those credits remain in inventory and are being used as needs arise.
Stanfel said the department does not have full historical cost data for many of the older projects because the costs were embedded in Department of Transportation infrastructure budgets, but he noted it is reasonable to assume projects built decades ago cost less than they would today. He also explained that when sister agencies request credits they may purchase them from NCDOT at a rate set by a formula tied to the current fee schedule and that the payments are deposited into NCDOT’s in-lieu fee program.
