DEPARTMENT OF NATURAL RESOURCES

State "wetland bank" pilot program launched in Snohomish County

Editor's note: We are including this press release about a project in another county because the wetland bank concept has been discussed locally.

posted 12/15/05
A new wetland restoration project in Snohomish County will serve as the first "wetland bank" approved by state, local and federal agencies under a Department of Ecology (Ecology) pilot wetland mitigation bank program.

The special land banks will enable developers whose projects require wetland mitigation to buy "credits" in existing wetland restoration projects, instead of doing the specialized work on their own.

"I am very excited about wetland banking," said Jay Manning, Ecology's director. "It holds great promise as a way to improve our ability to protect wetlands, which are critically important to the environment in which we live. Equally exciting is the fact that wetland banking provides a less costly, faster and more predictable process for people to follow in developing their property."

Manning and U.S. Army Corps of Engineers Colonel Debra M. Lewis have approved a memorandum of agreement with Habitat Bank LLC for a 225-acre project located near the Snoqualmie River just north of the King County line. The privately funded project is open for business.

Developers of certain smaller tracts in nearby locations will have the option of buying "credits" to set aside some of the bank's wetland to satisfy their own obligations to mitigate - or offset - the loss of wetlands resulting from their developments.

Ecology and the Corps will manage the bank by determining how many acre-credits a qualifying project will have available and by allocating credits to developers. The owner of each bank project will set prices for the credits. The two agencies have allocated 163.1 credits for the 225 acres in Habitat Bank's project.

"The bank offers developers restored or replaced wetlands that are already established and will be cared for far into the future," explained Lauren Driscoll, who coordinates Ecology's wetland banking efforts. "We also believe this will encourage well-planned and integrated wetland restoration projects."

The company purchased the former Snohomish County farm, which lost its wetland character when it its owners drained it decades ago. Habitat LLC restored the property - in cooperation with Ecology, the Corps and other agencies - as a wetland that benefits fish and wildlife, water quality, natural flood control and other important environmental functions.

"We have converted a failing, low quality farm site back into high quality wetlands and will fund through credit sales protection and maintenance of the site forever," said Victor Woodward of Habitat Bank, "Developers can now focus on building schools and roads and can buy wetland credits if they need them from companies that specialize in restoring and protecting wetlands."

"We see an effective wetland mitigation banking program as a vital way to protect the aquatic environment," said Muffy Walker, Seattle District Regulatory Branch chief at the Corps. "It also enables us to efficiently administer our regulatory program with fair, timely and reasonable decisions."

Developers continue to have the option to construct mitigation projects on their own sites rather than purchasing credits or set-asides in the wetland bank.

A study released by Ecology in 2002 found that most projects intended to replace lost wetlands fail, often due to poor placement and a lack of maintenance. Ecology, the Corps of Engineers and developers have promoted wetland mitigation banking as one tool for improving wetland permitting. In 2004, the state legislature authorized a pilot project to establish and test criteria for wetland banks.

Snohomish County, the U.S. Environmental Protection Agency and the Washington Department of Natural Resources joined Ecology and the Corps in reviewing the project.

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