WASHINGTON, DC'S STORMWATER RETENTION CREDIT (SRC) TRADING PROGRAM GENERAL OVERVIEW The Stormwater Retention Credit Trading Program promotes the installation of green infrastructure projects and the reduction of impervious surfaces by allowing property owners who either manage stormwater voluntarily, or above the minimum regulatory requirement to sell their credits on an open market to individuals/ companies who do not meet the regulatory stormwater requirement. This system helps to lower the overall costs of managing stormwater. STATE REGULATIONS Development and redevelopment projects must meet a 1.2-inch storm runoff retention requirement. WHO SELLS SRC'S? Property owners who manage stormwater voluntarily, or above the regulatory requirement Stormwater Retention Credit (SRC)-generating business HOW DOES IT WORK? To generate SRC's property owners must meet a set of eligibility requirements and complete the SRC certification process. 1. Submit a Stormwater Management Plan (SWMP) 2. Obtain DOEE Approval of SWMP 3. Install eligible GI or land cover 4. Pass DOEE Final Construction Inspection and submit as built SWMP 5. Apply to DOEE to certify SRC's with maintenance contract 6. Obtain DOEE certification for up to 3 years of SRC's 7. Maintain Retention Capacity and pass subsequent inspections Each SRC represents one gallon of GI retention maintained for one year. DOEE will certify up to years' worth of SRCs at one time. LAPL WHO BUYS SRC'S? SRCs are sold on the open market to large development projects Large development projects are required to use green infrastructure to retain stormwater runoff but have the option to meet up to 50 per cent of their requirement off-site using SRC's. The DOEE also buys eligible SRCs through the SRC Price Lock Program. WHO DETERMINES MARKET VALUE? Stormwater Retention Credit (SRC) prices are privately negotiated and DOEE does not set a market price. DOEE has created a price floor for new, voluntary GI in the MS4 through the SRC Price Lock Program. The SRC Price Lock Program allows eligible SRC generators to sell SRC's to the DOEE at a fixed price without losing the option to sell to another buyer. SRC purchase prices will be determined based on where the project is located in the Municipal Separate Storm Sewer System (MS4). RESOURCES DOEE offers free training seminars on Stormwater Retention Credits (SRCs). For training dates and information visit https://goo.gl/jxotLZ. For more information on the Stormwater Retention Credit Trading Program email src.trading@dc.gov or call (202) 715-7644. The SRC program has the potential to revolutionize how we manage stormwater by lowering overall costs and improving performance. Hamid Karimi, DOEE will be speaking about this program at the Grey to Green Conference in Toronto on May 16, 2018. Supplier of StormCapTM Vegetated System Superior Water-Retention-to-Weight Ratio LIVINGARCHITECTUREMONITOR.COM 855.786.7626 | stormwatercaptureco.com LIVING ARCHITECTURE MONITOR / SPRING 2018 / 29https://www.goo.gl/jxotLZ http://www.stormwatercaptureco.com