• Lake Swamp Mitigation Bank

  • Lake Swamp Mitigation Bank

  • Lake Swamp is a regionally significant wetland mitigation bank that is being developed on 1,890 acres that were part of the original Ormond Crossings master plan. Lake Swamp’s land is located in Flagler County. The Flagler County land was transferred to a related entity and re-planned as a wetland mitigation bank, with about 260 residual acres available for other uses.

    The first phase of Lake Swamp, containing 1,890 acres, was permitted for about 190 UMAM credits. A planned second phase of the bank, containing 900 acres, is expected to produce an additional 90 UMAM credits.

    Credits from Lake Swamp may be used within its service area to offset impacts to wetlands regulated by the St. Johns River Water Management District and to U.S. Army Corps of Engineers. The service area for the water management district – Basin 17 (Halifax River) – is located in eastern Flagler and Volusia Counties. The service area for the Corps of Engineers extends north to southern Jacksonville. It is anticipated that approximately 50 mitigation  credits  will  be  used  for  the development of Ormond Crossings with the other credits sold for both public and private development projects within the service area. The demand for credits has picked up significantly in the last year. Depending on several considerations, credits are priced from $90,000 to $140,000.