Three types of wetland mitigation are available in Missouri. First, mitigation banks are sites or a suite of sites, where resources (such as wetlands, streams, and other riparian areas) are restored, established, enhanced, and/or preserved for the purpose of providing compensatory mitigation for environmental impacts authorized by 404 Nationwide permits. Developers can purchase credits from mitigation banks in order to satisfy their mitigation obligations. Conveniently, the mitigation is already completed, so the mitigation occurs instantly.

Second, in-lieu fee program credits are allowed where permitted environmental impacts are located within the service area of an approved in-lieu fee program, and the sponsors of those programs have the appropriate number of resource-type credits available. Similar to a mitigation bank, an in-lieu fee program sells compensatory mitigation credits to permittees whose obligation to provide compensatory mitigation is then transferred to the in-lieu program sponsor. Id. In Missouri, the only in-lieu fee program sponsor is the Stream Stewardship Trust Fund, which is managed by the Missouri Conservation Heritage Foundation.

Third, developers applying for Section 404 Nationwide permits can agree to take personal responsibility for mitigation projects. In so doing, the developer must propose a project that meets the approval of the Corps, the Missouri Department of Natural Resources, and the Missouri Department of Conservation.

Currently, the Stream Stewardship Trust Fund ("SSTF") is the only in-lieu fee program authorized in the State of Missouri. The Missouri Conservation Heritage Foundation sponsors the SSTF, which mostly provides in-lieu fee credits for streams and other forms of continually flowing waters of the United States.

Costs associated with participating in the SSTF are based on market forces and the anticipated cost of stream mitigation projects in the area where stream impacts were permitted. Current SSTF credits are worth approximately $35 each. Compensatory mitigation payments are based on average cost estimates to correct activity-specific impacts to stream resources.

The Foundation holds mitigation resources collected in an interest-bearing escrow account, in an investment instrument, or banking institution. The Foundation must account for the funds held, subject to an audit by the Corps at any time. Annually, the Foundation must provide the Corps with an account statement that states the balance of the SSTF, investment instrument in which the SSTF invests, and a list of stream projects and associated costs supported by the SSTF.