RANCHING Business
area of land can be restored and protected, as opposed to multiple isolated sites. Finally, it helps the landowner by providing another source of income.” Fitzsimons explains that for cred-
its to be certifi ed, in most cases, the land must be permanently protected with a conservation easement, which is where TALT comes in. “Mitigation banking is one way
Types of mitigation banks:
Wetland/stream banks: These banks offer credits that sat- isfy regulatory compliance for Sec- tion 404 of the Federal Clean Water Act, and other state and local regu- lations, for mitigating unavoidable impacts to wetland and stream re- sources.
in which we meet the goal found in the current strategic plan of the Texas Ag Land Trust to identify in- novative, incentive-based solutions for private lands conservation,” she says. “The donated conservation easement simply does not work for many landowning families. Mitigation banking can provide a fi nancial incentive for those who wish to conserve their lands.”
Conservation considerations For landowners contemplating mitigation banking,
choosing a partner is one of the most important deci- sions to make. What should you look for in a mitigation banker? In a land trust? What happens if one closes? Fitzsimons says the fi rst thing to look for in a miti-
gation banker is their track record. “Where else have they done this? Where have they
worked? Preferably, they have worked in your service area. So they have a relationship with either the U.S. Fish and Wildlife Service or the Army Corps of Engi- neers in your area,” she says. Second is staying power. “There are a lot of mitigation banking outfi ts out
there and some are capitalized better than others,” Fitzsimons explains. “You want to make sure you’re working with one that has the ability to stay in the game, so to speak.” She says it’s also important to look at their market-
ing plan, because it’s all about sales. “They need to have a solid marketing strategy or
already have buyers lined up and waiting,” Fitzsimons says. From her perspective at TALT, Fitzsimons adds that
it is important to make sure the mitigation banker understands the relationship between the land trust and the landowner. “Because at some point that bank is going to close,” she says. “The credits will be sold but the landowner
56 The Cattleman June 2016
Conservation banks: These banks offer credits that sat- isfy regulatory compliance for Sec- tions 7 and 10 of the Federal Endan- gered Species Act, and other state and local regulations, for mitigating unavoidable impacts to threatened and endangered species and their habitats and other sensitive habitat areas.
For more information, visit
www.txaglandtrust.org.
will still have a conservation easement and will still have a partnership with that land trust. So you want a mitigation banker that brings the land trusts in from the very beginning.” She says that when selecting a land trust for your
mitigation-banking project, the same principles and guidelines apply as you would use for any conserva- tion easement.
You want a land trust whose mission is compatible with your own philosophy.
“You want a land trust whose mission is compatible
with your own philosophy,” she says. “After all, you’re taking on a partner in perpetuity. You need to have a meeting of the minds there and make sure you’re on the same page.” She says that while a basic understanding of miti-
gation banking is good, it’s not essential. “It’s more important that it’s the right kind of part-
nership,” Fitzsimons says. “And like the mitigation banker, they need to have proven staying power. Do they have a good record? Are they robust enough to be around forever and ever?” Her parting words on the subject: Be prepared in
case the conservation easement goes dark. “You want to make sure that there are provisions
in the easement allowing for it to be transferred to an- other land trust if the one that you’re partnering with goes bankrupt or closes,” she says. “As a landowner, you want to make sure that you have a say in where that easement goes, too.”
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