Contact: Donna Henry, 202.299.3339, firstname.lastname@example.org
Washington, D.C. – April 29, 2014 – Today, the District Department of the Environment (DDOE) certified 51,249 Stormwater Retention Credits (SRCs) for four large rain gardens at The Westchester Apartments in Northwest DC. The SRC trading program, established on July 19, 2013, is the first of its kind in the nation.
Property owners generate SRCs by installing green infrastructure that captures and retains stormwater runoff. DDOE certifies SRCs for eligible best management practices and land cover changes. Owners can sell SRCs in an open market to buyers who can use them to meet regulatory requirements for retaining stormwater.
“This innovative program is turning the stormwater problem in the District into an opportunity,” said DDOE Director Keith A. Anderson. “The opportunity to sell SRCs creates an incentive to build green infrastructure that helps protect our local waterbodies and meet the goals for a Sustainable DC.”
According to the General Manager of The Westchester Corporation Ann Benefield, “We designed the project to qualify for SRCs and the discount on the stormwater fees on our water bill.” In addition to generating SRCs, The Westchester also qualifies for DDOE’s RiverSmart Rewards program, which provides a discount on the District Government Stormwater Fee and DC Water Impervious Area Charge.
DDOE has established a public SRC Registry where sellers list their SRCs for sale, including an initial listing price. SRC buyers and sellers negotiate a final purchase price independent of DDOE.
For details on the SRC trading program, visit ddoe.dc.gov/src. For details on the RiverSmart Rewards program, visit ddoe.dc.gov/riversmartrewards. For information on the regulatory requirement for retaining stormwater, visit ddoe.dc.gov/swregs.