PNW 98 Session - Full Abstracts

Full Abstract

KATHY COMBS (1)

(1) Washington Wetlands And Mitigation Co., Inc. - private company

Benefits And Risks of Wetlands Mitigation Banking - An Update

With increasing regulations and the federal mandate for "no-net-loss" of
wetlands, Wetlands Mitigation Banking has become a viable alternative for
land use planners and developers. Projections for increased population in
areas with limited developable land have elevated wetlands banking as a
tool for meeting future growth demands. Entrepreneurial wetlands banks
are found in less than 10 states; public/private and non-profit wetland
banks are operating in approximately 30 states.


Private entrepreneurial wetlands banks provide time savings in project

completion, savings in project cost, no-net-loss of wetlands, AND we have

a market-based incentive for success. Without thriving wetland habitat

systems, the private entrepreneurial wetlands mitigation bank would not be

in business!


Wetlands banking is not intended to replace the sequencing process.
Once mitigation is agreed to by the regulators, wetlands banking may
provide greater mitigation success over the many "postage-stamp sized"
mitigation areas being developed today.


Private entrepreneurial wetlands mitigation bankers must weigh the risks

against the benefits. Regulations, development trends, service areas,
markets, and Mother Nature can singly, or collectively, influence the
success or failure of a wetlands bank. Wetlands banking can be a highly
rewarding enterprise if put together and run properly by professionals.


Increased diverse, integrated, quality habitat for a wide variety of birds, fish
and other wildlife is a goal of wetlands banking. Bird counts at a bank site
in Pembroke Pines, Florida increased in a one year period from seven
species to nearly 70 species due to their restoration efforts.


Finding the "perfect" site for a wetlands bank includes location with high
potential for increased functions, a market within the site service area,
support of regulatory agencies, and for entrepreneurial banks, an
acceptable margin of profitability. In addition, there is a need for adequate
funding. Estimated costs of getting a site to a permitted stage can be in
excess of $250,000. Construction bonding, construction, monitoring,
maintenance bonding, maintenance, and administration are all costs to be
incurred once permitting has been achieved.


Even though wetlands mitigation banking may be risky, it may also be one
of the best solutions available to help maintain our wetland systems while
helping to meet the development demands projected for our state.
Providing wetland banks privately, and for profit, ensures successful
mitigation for necessary wetland impacts. There are no long-term success
stories for wetlands banking in Washington state. The concept is just now
being accepted and supported here. The few banks that have been
developed indicate wetlands banking is a tool that has excellent potential
for providing successful wetland mitigation, as restoration, enhancement,
creation, and even preservation. Working together as a team we can
provide an increase in both size and functions of our state wetland systems
while helping to provide enough land use for responsible growth to meet
future population demands.

I would like to present an up date to private wetlands banking as a follow
up to a previous presentation to SWS. Moving forward with private

entrepreneurial wetlands mitigation banking, I have learned additional
knowledge in pitfalls and reward potentials. Increased awareness and
interest from both potential bank developers and potential bank uses

makes this an important issue. Thank you for your consideration.