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Vol.
2, No. 6: June 15, 2007
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The Ecosystem Marketplace's Mitigation Mail
Conservation and Wetland News You Can Bank On
Widespread Activity
Widespread activity – that is the best way to describe this month's news. Mitigation banking is making state and national headlines. New banks are reportedly in the works in Pennsylvania, Michigan, New Jersey, Minnesota, and Georgia. Wisconsin says it has made great gains in permitting and wetland impact reduction. And Westervelt's Alabama office merged with a real estate intelligence service. At the national level, the Department of the Interior has announced an initiative to raise wildlife conservation planning to the landscape level. Conservation banking, say insiders, may be an integral part of the new policies.
Based on these and other developments, new business models continue to crop up in the conservation and mitigation banking space. To wit, read about Ecosystem Investment Partners new collaboration with Lyme Forest Fund in this edition of Mitigation Mail.
—The Ecosystem Marketplace Team
If you have comments or would like to submit news stories, write to us at mitmail@ecosystemmarketplace.com.
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Interior official seeks new balance for wildlife (5/15/07)
Interior Department Deputy Secretary Lynn Scarlett announced a new administration program called the Healthy Lands Initiative on May 15: "We think we need to do it [permitting] differently, step back, take a big-picture look and have landscape-scale planning so we can identify whole wildlife corridors [and] protect them." To accomplish this laudable goal, Scarlett said the Administration likely needs new policies such as conservation banking.
– Read the story
Jacobs Creek project puts wetlands 'in the bank' (5/20/07)
PennDOT recently completed the Jacobs Creek wetlands banking project on a six-acre site. Wetland mitigation banking is a relatively new approach to meeting environmental protection requirements in Pennsylvania. The state's department of transportation is planning to construct four such wetland banks in Southwestern Pennsylvania. “The Jacobs Creek wetlands bank is part of the Youghiogheny River watershed. Similar sites will be created within the Monongahela, Conemaugh and Ohio River watersheds,” reported the Tribune-Review.
– Read the story
Clinton Township, MI gives thumbs up to park, and mitigation bank (5/23/07)
"Plans for a donated 30-acre park between Groesbeck and Moravian are back on track after the township threw its support behind the project last week," reported the C and G News. Planning and engineering work on the project had been temporarily halted after last month's public hearing, where concerns were raised about long-term legal obligations associated with the property. These concerns were eased in part by the clarification that even though the land will be owned by the township, responsibility for maintaining the wetlands mitigation bank will rest with the developer.
– Read the article
Wisconsin DNR wetland permit turnaround times speed up (5/23/07)
Wisconsin's Legislative Audit Bureau found that turnaround times for state wetland permits have dropped dramatically in the state since 2001."Despite the 80 percent-plus approval rate, the agency was able to reduce the amount of wetlands filled each year by about 70 percent, from 171 acres in 2001 to 55 acres in 2005, by working with applicants to revise their construction plans," reported the Gazette Extra.
– Read the story
Senator Harkin targets big changes to conservation programs (5/24/07)
Senate Agriculture Committee Chairman Tom Harkin (D-Iowa) is planning a dramatic reorganization of conservation programs in the next farm bill and wants to pump $6 billion more into conservation spending. Harkin's farm bill proposal would consolidate the Agriculture Department's largest working lands programs into one new initiative called the Conservation Stewardship Incentives Program.
– Read the article
OEPA officials visit local wetland (5/25/07)
Ohio EPA (OEPA) is assessing a wetland created 3 years ago to compensate for a new landfill site on Canal Road in Defiance County. The review of the new wetland will determine whether it's supporting the desired ecosystem and meeting performance standards. The wetland, Penny Nature Center, is one of two wetland mitigation projects in Defiance County. Another is located along the Tiffin River, not far from the Penny wetland, and is a "mitigation bank."
– Read the story
Collier drops plans to buy ranch land near Immokalee for mitigation (5/29/07)
"Collier County has dropped the idea of buying ranch land northeast of Immokalee to offset environmental effects from the county's road and public works projects," reported the Naples News. "The possible purchase of 5,300 acres of the Half Circle L Ranch, owned by the pioneer Scofield family, would have cost an estimated $42 million and had raised concerns among environmental groups."
– Read the story
ProLogis Gets Wetlands Mitigation OK (5/31/07)
The State of New Jersey and the US Army Corps of Engineers have approved plans to restore 12 acres of wetlands located in Woodbridge County. ProLogis, the developer restoring the habitat, is developing the Port Reading Business Park immediately adjacent to the tract.
– Read the story
Forest One Merges with The Westervelt Company (6/1/07)
Forest One, a leading provider of land and real estate business intelligence services, has merged with Tuscaloosa-based The Westervelt Company, and will soon begin changing its name to "Lanworth, Inc." Lanworth will continue offering services to the forest products, land management, agriculture, utility and real estate segments. The merger will enable Lanworth to develop new products and services for both existing and new clients.
– Read the story
Minnesota Wetland Rules Inhibit Projects (6/5/07)
Koochiching County is expressing concern to state officials about the detrimental effects of Minnesota's wetland rules on development in the city of Borderland. Benchmark Engineering Inc. has been contracted to study the feasibility of building a wetlands mitigation bank for the city.
– Read the story
– Read the story
Gause Joins Westervelt Ecological Services as Senior Ecologist (6/4/07)
"Matt Gause has joined Westervelt Ecological Services (WES) as Senior Ecologist," reports the company. "Gause will focus on performing habitat and land assessments, wetland delineations and species assessments, permit and regulatory compliance, biological monitoring, and client support. Prior to joining WES, Gause was Vice President of Ecological Resources for Wildlands, Inc., and has a combined 15 years of experience in the environmental permitting, mitigation and restoration field."
– Read the press release (PDF)
Heritage site could become nature classroom (6/7/07)
Envision Ecology, LLC, and Heritage High School and Middle School are considering teaming up to restore 75 acres of degraded flood-prone land on school property in Catoosa County. The site would serve as a nature classroom and the restoration would be funded by generating and selling wetland mitigation credits. Damon Raines, director of operations for Catoosa Schools, told the Catoosa News that, "the land can't be used for building, but this opportunity could turn it into something that furthers students' educations without draining the financial resources of the school system."
– Read the story
– Read the story
Protecting the natural world (6/11/07)
This op-ed piece from dailybulletin.com discusses the importance of mitigation and conservation banking to southern California.
– Read the story
Wildlands' Tehama bank approved (6/12/07)
The first vernal pool preservation bank in Tehama County was recently approved. The 631-acre Blackburn Vernal Pool Conservation Bank established by Wildlands Inc. will permanently preserve habitat of endangered and threatened vernal pool species. The bank serves portions of a five-county area including Tehama, Shasta, Glenn, Butte and Colusa Counties.
– Read the press release
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by Alice Kenny
Ecosystem Investment Partners is re-writing the book on land conservation. The Ecosystem Marketplace finds out what the men behind the new business have to say about the synergies they see between conservation and investment returns in the United States.
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Know someone who might be interested in the Ecosystem Marketplace and this newsletter?
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JOB ANNOUNCEMENT
Director Of Land Acquisitions-Mitigation Banking (California)
Seeking experienced, motivated individual for dynamic position in Southern Marin. Strong profit incentive package. Extensive investment capital immediately available. Send confidential resume to bill@kiplingpartners.com.
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