Jul 22 2019

July 22, 2019

Galveston  Region  —  Development projects in south Texas that have been on hold for lack of access to wetland mitigation credits got good news in July with the release of more than 100 credits approved for the Gulf Coastal Plains Wetland Mitigation Bank (GCPWMB).

Officials of EcoSystem Renewal LLC, co-manager for the sponsor of the mitigation bank site comprising 1,957 acres in the Galveston region, said the release of the new credits by the U.S. Army Corps of Engineers will help jump-start projects in the watershed.

 

 

 

 

 

 

 

 

 

 

 

Freshwater PEM/PSS wetland credits are in short supply and many projects in the region need this type of credits to move forward, according to Danny Moran, managing director of EcoSystem Renewal.

Mitigation banks are large sections of land, typically hundreds or thousands of acres, where wetlands and critical ecological systems are being restored and preserved for future generations. Private companies and public agencies that need to pave roads, install pipelines or build structures and infrastructure that impact wetlands are required by law to mitigate, or offset, any unavoidable loss of wetlands. Purchasing credits from a mitigation bank is the preferred method of meeting regulatory requirements and achieving the federal goal of “no net loss of wetlands.”

The new release, of about 108 credits, are for physical, chemical or biological impacts in riverine, herbaceous shrub areas. The Gulf Coastal Plains bank also has tidal marsh credits available from previous releases for developers who need those to meet federal regulations.

“We thank our federal and state regulatory partners’ efforts in diligently pursuing this important Texas project,” Moran said. “Many delayed projects may now move forward once they acquire these credits to offset unavoidable impacts to wetlands by their proposed projects.”

For more information, contact Danny Moran, Managing Director, EcoSystem Renewal, LLC, (toll free) 888-294-8101ext 802, dmoran@ecosystemrenewal.com;   Will Beaty, Director of Sales and Marketing, EcoSystem Renewal, LLC, 888-294-8101 ext 802, wbeaty@ecosystemrenewal.com Beth Payan, Larry Vershel Communications  407-644-4142 or 407-461-3781 Beth@LarryVershel.com

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