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Message
Designationg existing wetlands as mitigation land
Posted on 6/23/21 at 8:09 am
Posted on 6/23/21 at 8:09 am
Currently own wetland acreage. Not very accessible. I saw in another thread about the high prices this type of land is going for. How does one who owns land that can be preserved get into this "racket"?
4
Posted on 6/23/21 at 8:34 am to lgtiger
Try:
thompson@ecocapitaladvisors.com
thompson@ecocapitaladvisors.com
quote:
Firm focuses on the acquisition, restoration and management of real estate for the purpose of permitting and developing wetlands and stream mitigation and threatened and endangered species habitat conservation projects to generate environmental mitigation credits for sale to third parties.
Posted on 6/23/21 at 9:25 am to lgtiger
If you're around BR, Kean Miller has a couple civil & enviro eng's turned lawyers that handle this stuff exclusively.
Posted on 6/23/21 at 9:44 am to lgtiger
You need to convert non-wetlands to wetlands. You can't buy a piece that is already wetlands and sell it as credits. Most mitigation banks are large ag land tracts that would naturally be wet if it wasn't farmed. You convert acreage to wetlands and then you can sell credits. Not an easy process and heavily regulated by the Corps.
Posted on 6/23/21 at 2:29 pm to LSUengr
quote:
You need to convert non-wetlands to wetlands. You can't buy a piece that is already wetlands and sell it as credits. Most mitigation banks are large ag land tracts that would naturally be wet if it wasn't farmed. You convert acreage to wetlands and then you can sell credits. Not an easy process and heavily regulated by the Corps.
This right here.
Existing wetlands can be enrolled as mitigation banks, but typically only when tied to restoration or enhancement acres. The point of mitigation is to take converted wetlands and restore them, then use that to offset impacts by others. Taking an existing wetland and using it as mitigation does not accomplish that.
Posted on 6/23/21 at 10:24 pm to lgtiger
Posted on 6/25/21 at 5:36 am to lsufan112001
quote:
If you’re talking preservation. It’s the WRP
WRE very seldom takes wetlands for full on Preservation, either. The premise of WRP/E and the ACOE mitigation banks are the same--take degraded wetlands, restore them, and place easements/servitudes on them. The difference is in how the property owner is compensated: mitigation bank owners are given credits that they then sell, while WRE landowners are paid a certain rate by the government for the Easement.
People misunderstand WRE all the time--NRCS rarely enrolls existing wetlands in the program without either some form of restoration associated with them, or enhancement of the existing wetland.
Posted on 6/25/21 at 10:20 am to Cowboyfan89
When y’all say “wetlands” do you mean a legal designation rather than just the fact that it looks like wetlands or has water running though it?
Posted on 6/25/21 at 10:30 am to Havoc
Yes, wetlands by the definition of the CWA as enforced by the US Army Corps. Practical definition is that a wetlands is defined by 3 characteristics, which are soils, plant life and hydrology. If you have all 3, you have a wetland. Missing 1 of the 3 and you don't have a wetland.
Posted on 6/25/21 at 10:38 am to Cowboyfan89
quote:
some form of restoration associated with them, or enhancement of the existing wetland.
I was involved in a fair amount of these in Florida. I will just add that if you have heavily timbered land you often go straight from upland to wetland without a transition zone. If you can focus on this transition zone you could receive credit. You also often times have isolated wetlands because a road to access the timber was built dividing wetlands that used to be connected. They look favorably on reconnecting these wetlands as well.
Posted on 6/25/21 at 12:19 pm to LSUengr
quote:
Yes, wetlands by the definition of the CWA as enforced by the US Army Corps. Practical definition is that a wetlands is defined by 3 characteristics, which are soils, plant life and hydrology. If you have all 3, you have a wetland. Missing 1 of the 3 and you don't have a wetland.
Unless it's a farm bill program (like WRE), then the Swampbuster definition comes into play.
Fun fact (or nerd fact): the Food Security Act of 1985 is the only federal regulation that defines Hydric Soil and Hydrophytic Vegetation.
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