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| Danny Moran |
GALVESTON BAY, TX --
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.
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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.”
CONTACTS:
Danny Moran,
Managing Director,
EcoSystem Renewal, LLC,
(toll free)
888-294-8101, ext 802,
Will Beaty,
Director of Sales and Marketing,
EcoSystem Renewal, LLC, 888-294-8101 ext 802,
Beth Payan,
Larry Vershel
Communications
407-644-4142 or 407-461-3781
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