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Wetlands
Posted on 6/22/21 at 11:04 am
Posted on 6/22/21 at 11:04 am
Does anyone know the price to mitigate .28 acres of wetlands in St Tammany parish and a good Mitigator to try and start the process? Thank You in advance
7
Posted on 6/22/21 at 11:07 am to vmoore88
From a land deal for a client back in November 2018, my client paid $18,500 for 4.1 credits for about 2/10 of an acre in NELA. they purchased it from an Mitigation Bank that represents a land-owner LLC holding company.
Also, to complete the deal, you need a Wetlands Mitigation Banking Agreement with a Mitigation Review Team comprised of USACE, US Dept Interior, EPA, and LDWF that delineates the wetland credits for sale, and your wetlands that will be mitigated.
We also learned that most wetlands acreage/credits in Louisiana are already owned by LLC holding companies owned by O&G exploration companies. So if you can even find some for sale, they set their selling price based on supply & demand. And most O&G needs to hold the credits for their own operations & pipleline work.
Also, to complete the deal, you need a Wetlands Mitigation Banking Agreement with a Mitigation Review Team comprised of USACE, US Dept Interior, EPA, and LDWF that delineates the wetland credits for sale, and your wetlands that will be mitigated.
We also learned that most wetlands acreage/credits in Louisiana are already owned by LLC holding companies owned by O&G exploration companies. So if you can even find some for sale, they set their selling price based on supply & demand. And most O&G needs to hold the credits for their own operations & pipleline work.
This post was edited on 6/22/21 at 11:24 am
Posted on 6/22/21 at 11:31 am to vmoore88
Whatever quotes you hear, make sure to add in some extra for the lube you'll need.
Posted on 6/22/21 at 11:35 am to vmoore88
I'm sure a quick Google search will yield several mitigation banks in the area. I'm guessing the per acre fee in that area is about $10k. And you may need to mitigate at 3 or 5 or even 10 to one depending on the site. Then of course all the Admin charges and site evaluation charges above that.
Posted on 6/22/21 at 11:45 am to vmoore88
Andrew Harrison in BR knows this shite up and down, and probably has some credits for sale.
Posted on 6/22/21 at 11:51 am to AlxTgr
quote:
Andrew Harrison in BR knows this shite up and down, and probably has some credits for sale.
Yeah, because it's a good idea to hire someone to get you a permit that also owns the bank. Not.
OP, have you filed a permit application with the USACE?
Posted on 6/22/21 at 12:10 pm to vmoore88
I was looking at an acre lot last year and decided not to buy bc of this. My cousin is a civil engineer and his company did a wetlands survey and said at least half was wet. He said to mitigate an acre was 70k.
Posted on 6/22/21 at 12:17 pm to Duckhammer_77
quote:
From a land deal for a client back in November 2018, my client paid $18,500 for 4.1 credits for about 2/10 of an acre in NELA. they purchased it from an Mitigation Bank that represents a land-owner LLC holding company.
Also, to complete the deal, you need a Wetlands Mitigation Banking Agreement with a Mitigation Review Team comprised of USACE, US Dept Interior, EPA, and LDWF that delineates the wetland credits for sale, and your wetlands that will be mitigated.
We also learned that most wetlands acreage/credits in Louisiana are already owned by LLC holding companies owned by O&G exploration companies. So if you can even find some for sale, they set their selling price based on supply & demand. And most O&G needs to hold the credits for their own operations & pipleline work.
This doesn’t even sound close to correct….$18,000 for 4 credits is a steal. OP needs to delineate his own site and find out his actual impacts. The US Army Corps will provide the exact number that they have to offset (typical govt). Cost depends on what type of impacts and the availability of credits. St Tammany has a lot right now. They will also provide a list of banks that will sell you the credits … no banking assessment needed.
You pay bank…bank gives you receipt and you get your permit.
US Army Corps
This post was edited on 6/22/21 at 12:21 pm
Posted on 6/22/21 at 12:49 pm to chaad
quote:
.$18,000 for 4 credits is a steal
Not all credits are equal though, so he may only have bought 4 credits but it could be equal to 0.10 acre impact or 0.50 acre of impact.
quote:
OP needs to delineate his own site and find out his actual impacts. The US Army Corps will provide the exact number that they have to offset (typical govt). Cost depends on what type of impacts and the availability of credits. St Tammany has a lot right now. They will also provide a list of banks that will sell you the credits … no banking assessment needed.
You pay bank…bank gives you receipt and you get your permit.
This is pretty decent advice if OP has time to wait 60-90 days for the USACE to respond to a goddanm email.
Posted on 6/22/21 at 1:01 pm to vmoore88
If its bottom land hardwood wetlands like $60k per acre. If its Cypress Tupelo wetlands $100k per acre. If its pasture/cattle wet around $30k per acre. You need to hired an Environmental Professional who knows how to work with the Corps. The CORPS dictates which mitigation banks you are allowed to used based on the "quality" of your wetlands.
Last project we did in St Tammany we used T. Baker Smith but there are a few other companies in area.
Last project we did in St Tammany we used T. Baker Smith but there are a few other companies in area.
This post was edited on 6/22/21 at 1:05 pm
Posted on 6/22/21 at 1:25 pm to chaad
quote:
This doesn’t even sound close to correct
It's what happened in our instance. Those were the credits available for sale in Nov 2018. Can't post the docs to prove it b/c that's illegal.
Posted on 6/22/21 at 1:29 pm to tenfoe
quote:Meh, the market is what it is.
Yeah, because it's a good idea to hire someone to get you a permit that also owns the bank. Not.
Posted on 6/22/21 at 1:44 pm to AlxTgr
quote:
Meh, the market is what it is.
Sure, but hiring someone to put a subjective value on your impacts that will affect the number of credits you are required to buy FROM HIM? I don't really know AH and he might be an ok guy, but it's equivalent to having a self defense attorney during a trial who also serves as an expert witness for the State who is prosecuting you.
Posted on 6/22/21 at 1:47 pm to Duckhammer_77
quote:
It's what happened in our instance. Those were the credits available for sale in Nov 2018. Can't post the docs to prove it b/c that's illegal.
Sorry DH…I meant that there wouldn’t be a need to develop some of the reports you referenced. Those are done by the bank. Also, the banks develop, own and sell credits not O&G companies. They may have their own banks but they use them for their projects.
Posted on 6/22/21 at 1:49 pm to tenfoe
quote:He's a crazy person.
I don't really know AH and he might be an ok guy,
quote:I don't see it that way.
but it's equivalent to having a self defense attorney during a trial who also serves as an expert witness for the State who is prosecuting you.
Posted on 6/22/21 at 1:51 pm to mthorn2
T Baker Smith
Providence
Cheniere Environmental
Elos Environmental
All good firms to delineate your land
Providence
Cheniere Environmental
Elos Environmental
All good firms to delineate your land
Posted on 6/22/21 at 1:51 pm to AlxTgr
Thank You all!!!! I have a site report already done. It has .29 wetlands out of .75 acres. It is only on the front part but the driveway would have to go over it to get to the back.
Posted on 6/22/21 at 2:21 pm to chaad
quote:
chaad
I think you're right. I don't want anyone to go through what my client had to. The larger project was tied to federal funding, so there 10x as many hoops to jump through than what the OP's condition sounds like. shite, we had to get some indian tribes approval because the property was "likely" to be a path of the trail of tears.
Posted on 6/22/21 at 2:31 pm to Duckhammer_77
quote:
I don't want anyone to go through what my client had to. The larger project was tied to federal funding, so there 10x as many hoops to jump through than what the OP's condition sounds like.
Nightmare fuel!!! Hahaha!
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