Ecosystem Investment Partners Announces Development of Stream Mitigation Bank in Eastern Kentucky
September 9, 2013
Ecosystem Investment Partners (EIP) is pleased to announce the acquisition of 874 acres in the Big and Little Sandy watersheds of eastern Kentucky; the first of multiple acquisitions underway by EIP to establish a large stream mitigation bank servicing the eastern half of the state. EIP anticipates that by early 2014 it will own 5,001 acres in Lawrence, Elliott, Floyd, Marion, Casey and Wolfe Counties, which will be incorporated under an umbrella mitigation banking instrument. Once EIP has entitled the mitigation bank under Section 404 of the Clean Water Act, it will implement extensive restoration of over 350,000 linear feet (67 miles) of existing streams on the properties, significantly improving the biological function of aquatic resources degraded by years of impacts from logging, mining and other legacy land uses.
The Eastern Kentucky Stream Mitigation Bank will deliver high quality stream mitigation credits to offset unavoidable, permitted stream impacts in multiple watersheds throughout eastern Kentucky under Section 404 of the federal Clean Water Act. Stream mitigation credits from the Bank will service impacts from public transportation projects, mining activities, industrial land use impacts, and other development activities. The Bank will generate a large credit supply that will be able to service major projects with significant stream impacts. Purchasing credits to satisfy Army Corps and local permit requirements results in quicker time-to-permit, cost savings, and a full transfer of liability versus other forms of mitigation.
Ecosystem Investment Partners is a leading provider of high quality compensatory mitigation for wetland, stream, and species habitat impacts, and has a portfolio of mitigation banks across the country.
To inquire about reserving mitigation credits, please contact Kevin Roush, Assistant Director of Markets, at firstname.lastname@example.org.