Since 2001, Habitat Bank NW (HBNW) has been the leader in mitigation banking in Washington State. Mr. Woodward created the first private entrepreneurial wetland mitigation bank approved through Washington State’s pilot banking program (Snohomish Basin Mitigation Bank) in 2005, working closely with Ecology, the EPA and the Corps of Engineers. Leveraging that experience, Habitat Bank NW went on to permit the Columbia River Wetland Mitigation Bank with the Port of Vancouver and the East Fork Lewis Wetland Mitigation Bank in Clark County Washington. HBNW has also developed a large consolidated mitigation project in partnership with the City of Battle Ground.
HBNW has partnered with conservation districts, cities, ports, tribes, farmers, private developers and state agencies to evaluate mitigation banking, in lieu fee, advanced consolidated mitigation and other mitigation options on various properties in the Northwest and Alaska. Using our knowledge of wetland mitigation demand, state and federal banking rules, regional issues and geography we are uniquely able to evaluate the potential for ecosystem mitigation from different properties. Currently we are working to integrate wetland, salmon and stream mitigation credits into existing and proposed mitigation projects to assist clients with multiple types of permitted impacts. As markets for additional ecosystem services develop we will work to incorporate those elements into our offerings to maximize the returns for our projects.
HBNW established Mitigation Banking Services (MBS) to focus on education, marketing and selling of mitigation credits, both for its own banks and as an agent for other banks that could not justify the high cost of dedicated marketing and sales programs for individual banks. MBS is a one-stop site for developers, consultants and agencies needing help understanding how mitigation bank credits work, proposing the use of mitigation credits in their permit applications, and ultimately purchasing mitigation credits for their projects from a number of banks in the State.
Habitat Banc NW is uniquely skilled at pulling together diverse groups of stakeholders to meet our region’s restoration objectives and create mitigation resources for permit applicants. Our expertise includes identifying the most appropriate mitigation tools for the marketplace, developing mitigation banking instruments, evaluating mitigation demand, working with and supporting wetland consultants, educating local regulators and project applicants and facilitating mitigation credit transactions and transfers. The company has developed these skills and knowledge base throughout more than 10 years of success in developing and operating wetland mitigation banks in Washington State.