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now my pleasure to uh to introduce victoria colangelo who's going to discuss the impacts of changes to wetlands and mitigation banking thank you so much well i'm honored to be a part of this very impressive panel thank you so much to eaglebot for inviting me to show my perspective as a mitigation bank uh representative and um a florida perspective as well so a little bit about me i've been selling mitigation credits since 2004 um i've specialized in uh selling credits and then most recently about two years ago i started selling mitigation banks the land with the credits so i've been very successful in doing both uh connecting the buyers and the sellers of mitigation banks and then of course with selling mitigation credits connecting developers and consultants with the appropriate mitigation options so i've had a fantastic career so far and i'm very very blessed to be in this industry this industry fell in my lap when i was a senior at ucf and i was called in for an interview i wasn't even looking for a job and so i worked my way up from intern to president and four years ago i started my own company um and uh it's been absolutely a blessing so just to give you a little bit of uh input on how i my perspective of these policies um uh with regulations we can go to the next slide so as you know um and as daniel pointed out in his presentation uh the uh the new navigable waters protection rule limits the extents of federal regulation rescinding the 2015 clean water rule that obama placed and as you may or may not know this all stemmed from the 1988 rupanos versus u.s ruling where it was an 18-year court battle and uh justice scalia and justice kennedy both have different opinions and justice khalia um wanted to regulate more wetlands of the united states and justice kennedy had an approach of um scalia had an approach of reducing the wetland impacts and hence there was this ambiguity for so long and in 2015 obama was able to put those increased restrictions on isolated wetlands and uh open waters united states and so now with this new regulation that just happened in june 22nd now it's more easier for developers environmental consultants to be able to have clarity and know exactly what uh will require federal mitigation and which won't so you know i i perceived it as a good step moving forward and it would increase you know the permitting timelines because i've seen it you know expand from two to seven years to get you know a a permit and so um however what i've seen in talking with many environmental consultants throughout the state of florida is that it's taking you know two to six months after they submit their jd request form which um whoops i don't think this link works on this spreadsheet i thought it would but um if you go to that form um on my website under resources mitigationbankinginc.com you can see the form that you can um download and email to the core and wait on a response and then move forward with your planning fortunately for states like florida michigan and new jersey we have state oversight so regardless those isolated wetlands are being mitigated um in the state of florida um and so that's great and there's it's estimated that epa suggested that there's about 85 overlap so the state and federal agencies 85 are um navigable waters and so um it doesn't make much of a difference and so the 15 or so are isolated wetlands that are still being regulated by the state i haven't seen much less federal mitigation needed yet i have about 130 credits reserved right now that are pending closing and only and out of all those projects only you know point six credits one project um doesn't need the federal uh as they anticipated because of this new rule and i'm sure more will come but right now i'm only working on you know one project out of um uh about 50 or 60 different projects so and that's on the um east coast of florida so anyways so a lot of interesting um perspectives on you know the lotus rule um and how this will you know affect moving forward with permitting and you know um like um was stated before who knows you know this is this is probably to be challenged again um it's going to take a lot of effort and you know they're going to have to have a defensible argument um require evidence of you know how you know this would be modified if this were ever to be rescinded again and open up the process but i'm assured that that wouldn't happen even if we started today for you know three to four years so a lot of projects are moving fast so they can get grandfathered in uh get those jd forms in and um and so uh that way you are set all right next policy change i want to talk to you about is specific to florida you can go to the next slide um you may or may not live in florida you may not um you know be affected but florida is one of the uh prestigious uh premier wetland mitigation areas in the country and um uh they are currently uh looking into and and will know next week if it's approved to be able to shift uh the clean water act section 404 from the army corps of engineers to the florida department of environmental protection and what that would mean is um all projects um except section 10 will be shifted over to fdep to regulate and so currently the core you know is just working on those big priority projects and going to shift everything to fdo ftp if it's approved um and so that's going to be an interesting um challenge for us i think you know to be able to have those resources and dep is confident like i said they have an 85 overlap so they're like we're already working on these projects uh might as well streamline it uh dep will manage it at first and then um once they get the process together i understand that they'll start flowing next to five different water management districts in florida who um primarily oversee the wetland impacts uh for the state side dep just does individual family homes and linear projects so um i guess they feel like they can put some more on their plate and alleviate the core of those responsibilities so i think that's really interesting because um you know it may be the wave of the future for other states as well to take back their you know regulations so that when these federal uh nuances happen with isolated wetlands the state still maintains regulation over the isolated wetlands and therefore they're not just being left out and not being compensated for mitigation banks will continue to be permitted by the army corps of engineers they will not go to fdp so that was good um and um and we're excited for the changes good or bad it's going to be interesting i know michigan did that uh changed over from the court of the states uh regulation and i'm not sure if they were um if they've been successful with that program um i've put in a couple calls but i haven't heard back yet and i i'd like to pick their brain on their perspective and um like i said new jersey has a state program but i'm not sure if they've navigated um over there as well so it might be an emerging trend florida you know of course at the forefront of the industry because we have a lot of wetlands um and i think that's it i think you know just let me know if you have any questions at the end and um thank you again so much for being here and listen to me with my perspective okay thank you victoria great to have you join us here today