Maryland State Highway Administration MS4 Compliance Program
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Project Summary: GreenVest (GV) entered into an $18M “pay for performance” contract with the Maryland State Highway Administration (SHA) to help them satisfy their Municipal Separate Storm Sewer (MS4) permit obligations. The contract specifically calls for the generation of stream restoration based Impervious Acres Treated (IAT) credit. Upon transfer from GV, this IAT credit will be applied to the SHA’s Chesapeake Bay Total Daily Maximum Load (TMDL) and MS4 Permit obligations.
GV will fully deliver over 370 IAT credits from approximately 7.10 miles of stream restoration. The stream restoration is embodied in four (4) separate projects located in three (3) counties. The program required securing access to over 10 parcels from six (6) separate owners. These projects will provide a variety of benefits including flood volume storage, water quality (including drinking water supply) and wildlife habitat including brook and brown trout.
GV is contracted to generate IAT credit on a fixed price, full delivery basis within a strict delivery timeline (on or before June 30, 2020). This schedule is compliant with specific timelines in SHA’s current MS4 permit. Under this pay for performance contract, GV sourced private sector financing to fund the land, design, permitting and construction through substantial completion and acceptance by SHA. GreenVest has contractually assumed 100% of the financial risk and liability including site identification, design, permitting, construction, acceptance by SHA maintenance, monitoring and final regulatory release. Each of the four projects carries roughly a 7-year lifecycle. The contract also required that the team meet specific DBE requirements which must be documented throughout the life of the contract.
GV is acting as developer and program manager, assuming all risk on behalf of SHA until final credit transfer. GV is leading our highly experienced design/build/finance team including Biohabitats, McCormick Taylor, Coastal Resources, Environmental Quality Resources, and Hannon Armstrong.
Project Status: GV completed the Design and Permitting Phase, has completed construction on one of four projects and will complete the remaining three months in advance of the mandated completion deadline.
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