EIP II Acquires Two Additional Assets In Florida’s Upper Coastal Watershed

November 08, 2013

November 8, 2013

Ecosystem Investment Partners (EIP) is pleased to announce the acquisition of two additional assets in Florida’s Upper Coastal watershed.

EIP has acquired the Upper Coastal Mitigation Bank (UCMB), which is the only existing mitigation bank with credit inventory in the watershed. This acquisition allows EIP to manage and sell an inventory of fully certified and released credits (both state and federal) now, while EIP permits the larger Old Florida Mitigation Bank. EIP’s acquisition of the UCMB enables EIP to operate as the sole mitigation provider in the watershed. Additionally, the UCMB is strategically located between Homosassa Springs Wildlife State Park and Withlacoochee State Forest, helping create a corridor between these protected lands. The restoration of the UCMB consists of preserving the threatened upland habitats and enhancing the forested and herbaceous wetlands through exotic species removal and perimeter protection.

EIP has also acquired a 550-acre property, named the “Hanging Pumpkin” site, which is ideally suited for wetland restoration for future expansion of the Old Florida Mitigation Bank. The credits generated from this site will enable EIP to generate additional credits to fully service the wetland mitigation demand of the watershed over the investment’s 10-year period. Hanging Pumpkin consists of a variety of rare and imperiled wetlands and uplands that provide habitat for a diverse array of fish and wildlife. Several springs are also located on the site, the largest of which forms a headwater tributary to the Chassahowitzka River. Hanging Pumpkin completes a vital corridor between the Southwest Florida Water Management District’s Chassahowitzka River and Coastal Swamps and the Florida Fish and Wildlife Conservation Commission’s Chassahowitzka Wildlife Management Area. Restoration activities at Hanging Pumpkin will include restoration of the pine plantation to the native pine flatwoods, and reintroducing fire into the sandhill and adjacent wetlands.

To inquire about the project or purchasing wetland mitigation credits, please contact Pamela Harris and Ryan Deibler at (813) 374-9764 or credits@oldfloridamitigation.com