You can buy Stormwater Retention Credits (SRCs) on an open market to satisfy your Off-Site Retention Volume (Offv) obligation. Each SRC can be used to satisfy one gallon of Offv for one year. SRC prices are privately negotiated and DOEE does not set a market price (although another compliance option, the In-Lieu Fee, acts as a cap on the SRC price).You must submit an application to use SRCs 4 weeks prior to the project’s Final Construction Inspection.
Buying SRCs can be a quick process if you follow these steps:
- Look up SRCs for Sale in the SRC and Offv registry. Purchasing and using SRCs labeled "High-Impact" is the best option for the District’s rivers because your purchase will get green infrastructure installed where it’s most needed. DOEE also helps keep the price of High-Impact SRCs low by paying participants in the SRC Price Lock Program to offer their SRCs to buyers at a reduced price. Many buyers are required to obtain their SRCs from the Municipal Separate Storm Sewer System (MS4). All High-Impact SRCs meet this requirement.
- Decide how many years of Offv compliance you want to achieve. For example, if you have an Offv of 5,000, you could purchase 50,000 SRCs to comply with your Offv for 10 years. If you choose to purchase high-impact SRCs from eligible GI projects, DOEE pays for a larger portion of your purchase price. The SRC registry automatically updates to show the price that you pay, adjusting to lower prices as you increase the number of SRCs you want to purchase.
- Contact some of the SRC sellers. You can offer to pay whatever SRC price that you think is fair, even if it’s different than the seller’s asking price.
- Agree to terms. While you are not required to sign a contract, DOEE offers a template contract that you can use. Many SRC sellers already have experience filling out this template for use in trades.
- The SRC seller will notify DOEE that they want to sell some of their SRCs to you. DOEE will record that you are now the owner of the SRCs and send you an email confirmation within one business day of receiving this notification.
- After DOEE has recorded that you are the owner of the SRCs, you must also submit a form through the DOEE Surface and Groundwater System to use your SRCs for Offv compliance. DOEE will record that you have used the SRCs and send you an email confirmation.