Developers as Allies: DC’s Stormwater Retention Credit Trading Program
Faced with the enormous cost of complying with stormwater mandates and cleaning up local waters, DC launched the Stormwater Retention Credit (SRC) trading program. This pioneering system allows redevelopment projects to meet regulatory requirements by buying credits from other properties that voluntarily retrofit impervious surfaces with green infrastructure. Brian Van Wye from the DC Department of Energy & Environment explains how SRC makes private development part of the stormwater solution and enables far greater results than what government could achieve alone. He describes how the program enabled DC to pass robust stormwater regulations, how it leverages private capital, and why flexibility is key to its success. He also shares thoughts on the contexts in which the program would be replicable.