The minimum technical elements required in the instrument are:

(1) The goals and objectives of the project;

(2) Site location including city or county, proximity to existing roads and other landmarks, and a vicinity map showing location of the proposed site(s);

(3) A description of existing conditions of the proposed site(s) including, but not limited to:

(a) Local land use or zoning designation;

(b) Current uses;

(c) Presence of liens, rights of way, easements, or other encumbrances;

(d) The landscape position of the site including WRIA, basin, and subbasin location;

(e) Wetland types present on the site including Cowardin classification and HGM class of each wetland;

(f) Other habitat types present;

(g) Technical information on wetland delineations, soil types, vegetation, and water sources, including surface water features and groundwater information;

(h) An analysis of functions provided by on-site wetlands;

(i) Adjacent land uses that might affect the bank's function;

(j) Site constraints, conflicts, or known risks that could affect bank development or function;

(k) Identification of all buildings, structures, and other built features that would remain on the site after construction;

(l) Identification of existing mitigation sites and whether they will remain on-site after construction; and

(m) Detailed site map(s) that includes, but is not limited to:

(i) Total area of site;

(ii) Location, delineated boundaries, size, and number of existing wetlands;

(iii) Location of all streams, ponds, and other water features on and adjacent to the site;

(iv) Location and type of all known water control features on and adjacent to the site; and

(v) Presence of rights of way, easements, or other encumbrances.

(4) A statement of how the bank meets any watershed restoration needs and how its design and location are ecologically appropriate;

(5) The rationale for site selection addressing the considerations listed in WAC 173-700-303;

(6) A detailed description of the proposed bank site including, but not limited to:

(a) The bank size;

(b) The Cowardin and HGM classes, wetland rating, and sizes of wetlands and other aquatic resources proposed;

(c) A description of the buffers for the site and any other habitats provided on the site;

(d) The functions to be provided by the bank and level of increase over existing conditions;

(e) Detailed site design plans and specifications to include grading plans, planting plans, and specifications for any structures; and

(f) Construction timing and schedules.

(7) Documentation of the ownership of bank lands and a legal description of the bank site;

(8) A detailed description of sponsor responsibilities for construction implementation, monitoring and reporting, and maintenance;

(9) A description and map of the service area and accompanying rationale that demonstrates the service area is ecologically appropriate;

(10) The potential number of credits to be generated by the bank and a credit description consistent with WAC 173-700-310;

(11) A description of any restrictions on use of credits;

(12) Documentation of water rights for the proposed bank, if required;

(13) An evaluation of historic, cultural, and archaeological resources on the bank site;

(14) Credit tracking and accounting procedures including reporting requirements;

(15) Performance standards for determining bank success and credit release including a schedule for the phased release of credits, if necessary;

(16) Monitoring plan and reporting protocols including a clear statement of responsibility for conducting the monitoring and reporting;

(17) An adaptive management plan and statement of responsibility for adaptive management activities;

(18) Financial assurances;

(19) The ownership arrangements and long-term management plan for the bank;

(20) Provisions for permanent protection of the bank site;

(21) Force majeure clause (identification of sponsor responsibilities in the event of catastrophic events that are beyond the sponsor's control);

(22) Any supporting documentation requested by the department;

(23) A provision stating that legal responsibility for providing the compensatory mitigation lies with the sponsor once a permittee secures credits from the sponsor; and

(24) Default and closure provisions.