The New York City Economic Development Corp. has issued a request for expressions of interest to identify partners to finance, construct, and operate the city's first wetland mitigation bank in the Saw Mill Creek Marsh on the West Shore of Staten Island.

Mitigation banks direct developers and property owners seeking to build on waterfront sites to pay for the restoration and long-term maintenance of a specific mitigation project. Through the so-called Marshes pilot project, roughly 68 acres of city-owned land, under the jurisdiction of the Department of Parks and Recreation, would be cleaned up, restored, and maintained over the long-term.

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