Russ Dudley, PE
Tetra Tech, Inc.
Washington, DC, like many other cities across the country, is faced with tightening NPDES permit conditions requiring retrofits of existing impervious areas. As DC completes more projects to meet these requirements, it can be harder to find other feasible and cost effective projects on public property or right-of-way.
To expand retrofits into private property, DC has established a Stormwater Retention Credit (SRC) Trading Program, which allows property owners to build voluntary green infrastructure and sell gallons of treated volume to land developers to meet DC stormwater requirements. This program is the first of its kind to be implemented in a major metropolitan city.
While the program has grown, the credit market requires developers to create a demand and landowners to provide the supply to fully realize potential. This has resulted in only 109,035 SRCs traded to date. To jumpstart the market, Prudential Financial invested $1.7 million to create District Stormwater, LLC, a partnership between NatureVest and Encourage Capital.
This investment is intended to significantly boost the amount of credits in DC to encourage private developers to utilize the market. With their initial project, District Stormwater will add approximately 90,000 credits to the market, nearly half the amount of credits already on the market, with plans to build many other projects with private landowners in the near future.
In this presentation, we will discuss District Stormwater’s innovative approach to DC’s SRC market, the challenges of developing credits from project initiation through certification, and opportunities for other communities to model this program.
Tetra Tech, Inc.
Senior Director, Product Development for NatureVest
The Nature Conservancy
The asset you are trying to access is locked. Please enter your access key to unlock.