OAR 141-085-0700
Financial Security for CM Sites

(1) Purpose. Financial security instruments are required for CM sites as a guarantee that the CM will be constructed, monitored and maintained in accordance with removal-fill authorization requirements.
(2) Exceptions. Financial security Instruments are required for CM projects except in the following circumstances:
(a) No financial security instrument is required for projects conducted by government agencies;
(b) The Department may waive the requirement for a financial security instrument for wetland impacts 0.20 of an acre or less; and
(c) Financial security instruments are not required when CM is satisfied by purchase of credits from a wetland mitigation bank, an in-lieu fee program or payment in-lieu mitigation.
(3) Types of Financial Security Instruments. The Department may allow the following types of financial security instruments:
(a) Surety bonds executed by the permit holder and a corporate surety licensed to do business in Oregon;
(b) Assignment of deposit must be issued by a bank licensed to do business in Oregon, assigned to the Department, and upon the books of the bank issuing such certificates;
(c) Letters of credit issued by a bank authorized to do business in the State of Oregon that are irrevocable prior to release by the Department; and
(d) Such other financial instrument as the Department deems appropriate to secure the financial commitment of the applicant to fulfill the success requirements of the CM.
(4) Financial Security Form. The applicant must file the financial security instrument or instruments on a form or forms prescribed and furnished by the Department. Financial security instruments must be made payable to the Department and must be submitted to the Department prior to permit issuance or prior to release of credits from a mitigation bank.
(5) Commencement of the Liability Period. The period of liability will begin at the time of authorization issuance. The liability period must be renewed until the Department deems the CM to be complete and the Department releases the permittee from any further monitoring requirements.
(6) Determining the Amount. For issuance of an authorization requiring a financial security, the Department will set the amount of the financial security instrument equal to either the current cost of mitigation bank credit(s) within a service area covering the removal-fill site, or the current cost of payment in-lieu mitigation, whichever is greater. For mitigation banks, the amount must be sufficient to ensure a high level of confidence that the mitigation will be successfully completed.
(7) Financial Security Instrument Replacement. The Department may allow a permit holder to replace an existing financial security instrument with another if the total liability is transferred to the replacement. The Department will not release an existing financial security instrument until the permit holder has submitted and the Department has approved the replacement.
(8) Financial Security Instrument Release. The Department will authorize release of the financial security instrument when the CM meets the requirements of the CM plan and the conditions of the removal-fill authorization. The permit holder must file a request with the Department for the release of all or part of a financial security instrument. The request must include:
(a) The precise location of the CM area;
(b) The permit holder’s name;
(c) The removal-fill authorization number and the date it was approved;
(d) The amount of the financial security instrument filed and the portion proposed for release; and
(e) A description of the results achieved relative to the permit holder’s approved CM plan.
(9) Forfeiture. The Department may declare forfeiture of all or part of a financial security instrument for any project area or an increment of a project area if CM activities fail to meet success criteria, the permittee fails to provide monitoring reports, or fails to follow other permit conditions related to mitigation. The Department will identify, in writing, the reasons for the declaration.
(10) Determination of Forfeiture Amount and Use of Funds. The permit holder must forfeit the amount of the outstanding liability in the financial security instrument. The Department will either use the funds collected from the security forfeiture to complete the CM or deposit the proceeds in the Oregon Removal-Fill Mitigation Fund.

Source: Rule 141-085-0700 — Financial Security for CM Sites, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=141-085-0700.

141‑085‑0500
General 141‑085‑0506
Policy 141‑085‑0510
Definitions 141‑085‑0515
Removal-Fill Jurisdiction by Type of Water 141‑085‑0520
Removal-Fill Jurisdiction by Volume of Material 141‑085‑0525
Measuring and Calculating Volume of Removal and Fill 141‑085‑0530
Exemptions for Certain Activities and Structures 141‑085‑0534
Exemptions for Certain Voluntary Habitat Restoration Activities 141‑085‑0535
Exemptions Specific to Agricultural Activities 141‑085‑0540
Types of Authorizations 141‑085‑0545
Fees 141‑085‑0550
Application Requirements for Individual Permits 141‑085‑0555
Individual Removal-Fill Permit Application Review Process 141‑085‑0560
Public Review Process for Individual Removal - Fill Permit Applications 141‑085‑0565
Department Determinations and Considerations in Evaluating Individual Permit Applications 141‑085‑0575
Permit Appeals 141‑085‑0580
Discovery in Contested Cases 141‑085‑0585
Permit Conditions, Permit Expiration Dates and Permit Transfer 141‑085‑0590
Renewal and Extension of Individual Removal-Fill Permits 141‑085‑0595
Permit Requirements and Interagency Coordination for Department of Environmental Quality Approved Remedial Action, Corrections Facilities, Solid Waste Land Fills and Energy Facilities 141‑085‑0665
Expedited Process for Industrial or Traded Sector Sites 141‑085‑0676
Emergency Authorizations 141‑085‑0680
Compensatory Mitigation (CM) 141‑085‑0685
Functions and Values Assessment 141‑085‑0690
Eligibility Requirements for CM 141‑085‑0692
Mitigation Accounting 141‑085‑0694
Special Requirement for CM 141‑085‑0695
Administrative Protection of CM Sites 141‑085‑0700
Financial Security for CM Sites 141‑085‑0705
Requirements for CM Plans 141‑085‑0710
Monitoring Requirements for CWM 141‑085‑0715
Mitigation for Temporary Impacts 141‑085‑0720
Mitigation Banking Purpose, Applicability and Policies 141‑085‑0725
Process for Establishing Mitigation Banks 141‑085‑0730
Establishment of Mitigation Credits 141‑085‑0735
Release, Use and Sale of Mitigation Credits 141‑085‑0740
Authorization for Mitigation Banks 141‑085‑0745
In-Lieu Fee Mitigation 141‑085‑0750
Payments to and Expenditures from the Oregon Removal-Fill Mitigation Fund 141‑085‑0755
Advance Mitigation 141‑085‑0768
Advance Aquatic Resource Plans 141‑085‑0770
Complaints and Investigations 141‑085‑0775
Enforcement Actions and Procedures 141‑085‑0780
Revoking or Suspending an Authorization 141‑085‑0785
Civil Penalties
Last Updated

Jun. 8, 2021

Rule 141-085-0700’s source at or​.us