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A AA <br /> 'mitigation banking under the following circumstances: <br /> a. When alteration is allowed pursuant to the "reasonable <br /> use" exception as provided in Paragraph B of Section 5 <br /> of this Ordinance; <br /> b. When alteration is allowed for a water dependent or <br /> water related use; <br /> c. when on-site or off-site mitigation is not practicable; <br /> d. When the wetland being altered is of a lower quality <br /> and has lesser functional values than the wetland which <br /> is being used for the mitigation banking. <br /> D. Wetland Mitigation Plans. When wetland alteration is <br /> permitted by this Ordinance, a mitigation plan shall be required <br /> to describe the methods the applicant will use to minimize <br /> impacts to wetland functional values. A detailed mitigation plan <br /> shall be approved by the City prior to any development activity <br /> occurring on a lot upon which wetland or wetland buffer <br /> alteration, restoration, creation or enhancement is proposed. <br /> The mitigation plan shall be prepared by a qualified person using <br /> accepted methodologies and include information as required by the <br /> Planning Director's administrative guidelines, and shall: <br /> 1. include a baseline study that quantifies the existing <br /> functional values of the wetland, functional values that <br /> will be lost, and the wetland's functional values after <br /> mitigation; and <br /> 2 . Specify how functional values will be preserved or replaced; <br /> and <br /> 3 . Specify how impacts will be avoided, minimized or <br /> compensated for; and <br /> 4 . Specify when mitigation will occur relative to project <br /> construction and to the requirements of permits issued by <br /> other agencies; and <br /> 5. Include provisions for monitoring the mitigated area on a <br /> long term basis to determine whether the plan was <br /> successful; and <br /> 6 . Include a contingency plan specifying what corrective <br /> actions will be taken should the mitigation not be <br /> successful; and <br /> 7 . Include provisions for an assurance device as provided by <br /> Section 19.40 of the Everett Municipal Code to assure that <br /> work is completed in accordance with the mitigation plan and <br /> that restoration or rehabilitation is performed in <br /> accordance with the contingency plan if mitigation failure <br /> results within five years of implementation. <br /> 20 <br />