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Vol. 1, No. 5: May 10, 2006
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The Ecosystem Marketplace's Mitigation Mail
Conservation and Wetland News You Can Bank On
An Unmitigated Success
Well, clearly the big news on the mitigation front this month was the successful completion of the 9th National Mitigation & Conservation Banking Conference which took place in Portland this past month (April 24-27, 2006). If you missed the conference (or even if you were there), you might be interested in the fact that the Ecosystem Marketplace produced a daily newspaper covering the events. Click here for an archive of all the newspapers we produced (including the last issue, for Friday, April 28, which was not distributed at the conference). In this newspaper, you will find a summary of all the events, some interesting guest editorials and feature articles, as well as some (compromising but tasteful?) photos. You might also be interested in the fact that, in time for that conference, we also produced the first in a series of booklets called "EM Market Insights: Biodiversity" entitled "Banking on Conservation". If however, all you want is a summary of the event, we would just say it was an "unmitigated" success: There were presentations on everything from how to establish a bank and the new wetland mitigation regulations, all the way to financial issues and the future of the industry. If we had to pull out two key themes that emerged from the conference, it would be the industry's overwhelming support for the new regulations (not surprising), as well as the growing interest from the mitigation/conservation banking community in the possibility of obtaining greater value for their land by "stacking" environmental credits (i.e. charging for other environmental services such as carbon sequestration or water quality improvements, etc.). On this latter subject, there was no real consensus from the meeting, though many warned that stacking could be harder than it looks at first glance.
But if you want the full details on this, or some of the other issues raised at the conference, you will just have to read our newspapers and our booklet.
Also, the Ecosystem Marketplace joined forces with Environmental Banc and Exchange (EBX) to host a dinner for key players in the conservation/mitigation banking industry. Discussions at the dinner turned—as could have been expected—to the information needs of the industry and how best the Ecosystem Marketplace might be able to meet these needs. We thank all who participated and those who helped make that dinner so enlightening and such a success.
So, until next month for another issue of "Mitigation Mail", and we look forward to the 10th National Mitigation & Conservation Banking Conference in 2007...
The Ecosystem Marketplace Team
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Texas State Agencies Agree on Mitigation Bank Strategy
The Texas Parks and Wildlife Department (TPWD) and the Texas Department of Transportation (TxDOT) have a written agreement to use mitigation banks to increase large-scale habitat protection and facilitate highway development. The agreement states that TPWD will develop mitigation banks and make the credits available to TxDOT at a competitive cost. Mitigation banks will be developed in advance of the project impacts. These sites may also allow some public recreation in the future.
– Read the article
Mitigation Bank Proposed in Prince George County, Virginia
Vulcan Construction Materials, LP has proposed a 55-acre mitigation bank in Prince George County, Virginia. The proposed bank is adjacent to the Appomattox River, and the stream subject to restoration is the Harrison Branch, a tributary to the Appomattox River. Proposed bank development includes a forested upland/wetland matrix, stream, and buffer creation. This bank will be one of the only freshwater tidal mitigation banks in central Virginia, and its service area will include all or portions of the James River and Appomattox basins.
– Read the Federal Public Notice [PDF]
Dudek Will Create San Diego Mitigation Banks
Dudek, a leading Southern California engineering and environmental consulting firm, announced that San Diego County Water Authority has selected Dudek to assist with the establishment of two wetland mitigation banks. The wetland projects are intended to mitigate impacts from facility and pipeline construction projects within the San Diego Water Authority's service area. One project will be located is a 32-acre site within the Tijuana River Valley Regional Park near the California/Mexico border, and faces the challenge of alleviating high soil salt levels. The other project is located along the San Luis Rey River in North San Diego County. This site needs to be studied to overcome hydrological challenges.
– Read the article
Stream Bank Planned for Reston Assocation Property
Wetland Studies and Solutions plans to restore 10-miles of three tributaries on Reston Association property as part of a stream bank mitigation project. The project will be called the North Virginia Stream Restoration Bank. Wetland Studies and Solutions have received approval from the Army Corps of Engineers and Virginia's Department of Environmental Quality for the bank, and construction is expected to begin early next year. The project is expected to provide a mitigation option for impacts made to streams in most of Fairfax County, Loudoun County and Prince William County.
– Read the article
Mitigation Bank May Be Part of School Site in Arkansas
At the Farmington School Board meeting, Arkansas Natural Resources Commission discussed the prospect of acquiring the undeveloped land around Jerry "Pops" Williams Elementary from the school district and making it into a mitigation bank. The school occupies eight acres of a 40-acre site. If the idea moves forward, the remaining 32 acres will become part of a potential 250-acre mitigation bank.
– Read the article
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