If the review agency for the project determines that a waiver is appropriate, the applicant must execute mitigation. The scope of the mitigation shall be commensurate with the size of the project and the magnitude of relief required. The mitigation project may be taken from the list of projects in the Municipal Stormwater Management Plan or another project identified by the applicant. In lieu of undertaking a specific mitigation project, a monetary contribution may be made to the Municipality for funding toward a municipal stormwater control project, subject to the approval of the review agency. All mitigation projects are subject to the approval of the Municipal Engineer.