For all In-Lieu Fee (ILF) Program mitigation projects the following standard shall apply:
A. A Development Plan, which details the mitigation elements of a project, shall be prepared by the District approved by the Board and the U.S. Army Corps of the Engineers (USACE);
B. Assign a compensatory mitigation credit fee for each Development Plan, pursuant to Section 21.02.130.
C. Detailed accounting records will be maintained by the District in the USACE's electronic database of each and every ILF transaction identifying the credits sold and monies accepted for each specific permit issued by the USACE.
D. In accordance with the Compensatory Mitigation Rule, 2008, §332.8(i)(1), the District will submit to the USACE District Engineer the following information:
1. All income received, disbursements, and interest earned by the ILF Program account;
2. A listing of all USACE's permits for which ILF Program funds were accepted including the permit numbers, the service area in which the authorized impacts are located, the amount of authorized impact, the amount of required compensatory mitigation, the amount paid to the ILF Program, and the date the funds were received from the permittee;
3. A description of the ILF Program expenditures from the account including any costs associated with land acquisition, planning, construction, monitoring, maintenance, adaptive management and program administration; and
4. The balance of any advance credits and release credits at the end of the report period for each designated service area. (Ord. 2020-FC1, § 1 (part), 2020)