The Business of Mitigation Solutions
Habitat Bank NW is in the business of providing mitigation solutions that meet the demands of permit applicants and regulatory agencies. By understanding mitigation demand, the economics of developing mitigation solutions, regional restoration goals and having a long term outlook, we have established a unique business niche that can create value for our partners and clients. We do everything from owning and operating mitigation banks to advising pubic entities on how to permit their own mitigation projects.
For more than ten years we have been at the forefront of mitigation options in the Northwest. We established the first privately sponsored wetland mitigation bank in Washington, the Snohomish Basin Mitigation Bank, and subsequently permitted two additional wetland mitigation banks in partnership with the Port of Vancouver and a private landowner. We have also permitted and constructed a large consolidated mitigation project with the City of Battle Ground, in Washington, providing a valuable mitigation option for City projects and permitted development impacts that improve the local economy.
Our team of mitigation and restoration professionals has also served public and private clients exploring mitigation options and looking to maximize their environmental assets. We help our partners permit and create their own mitigation projects, and engage in environmental assets research to explore how they might turn otherwise low-performing properties into profitable mitigation projects.
Whether looking for a partner to “turn-key” your mitigation project, an experienced advisor to help identify possible mitigation assets and markets, or an expert consultant to help permit and construct your mitigation project, HBNW is the full service team with the unique track record and expertise to get things done.
The HBNW Partnership Option
Cities, Ports, Tribes, Conservation Districts, Private Land Owners and Real Estate Investors can all benefit from a partnership with HBNW. Our strategic approach to partnerships is to identify, develop and generate revenues for our partners that either facilitates additional revenue growth or brings to fruition other options for their land assets. We can “turn-key” a mitigation project and assume all financial and management cost to develop a revenue stream for our partners. Or, assist with design, permitting and construction in return for fees and revenue shares. Often a partner is looking for their own mitigation source to support their primary business activities but become frustrated as they try and deal with permitting and regulatory challenges. We can help our partners lower their mitigation cost and generate additional revenues by increasing the overall mitigation values for a mitigation project.
The HBNW Advantage
Our knowledge and approach to mitigation solutions will result in a greater market opportunity for mitigation providers and their projects. By leveraging our experience and expertise, HBNW can identify the greatest mitigation value for our partners and negotiate the largest possible service area, or market, for potential mitigation users. Mitigation projects which incorporate the appropriate federal and state guidance during the design and permitting phase may be able to expand their mitigation offerings to other ecosystem services. HBNW understands this process, and has successfully permitted projects under the most recent regulatory guidance for compensatory mitigation.
Mitigation Innovation and the Evolving Ecosystem Marketplace
HBNW established the first privately sponsored wetland mitigation bank in Washington and contributed to the final state mitigation banking rule as our first projects were reviewed and permitted by federal, state and local agencies. Our role in alternative mitigation solutions has grown beyond mitigation banking. As provided in the 2008 USACE/EPA Federal Rule for mitigation, we can also provide guidance and support for In-Lieu Fee Mitigation projects sponsored by public entities such as Cities, Tribes, Conservation Districts and Watershed Coalitions. In addition, we are working closely with multiple agencies to extend wetland banking to support innovative solutions for permitting challenges that include stream, salmon, ESA and other habitat banking options. As markets develop for other ecosystem services we will position our projects to participate in these markets where it is feasible and beneficial.