Newport Beach, California, Jan. 08, 2019 (GLOBE NEWSWIRE) -- With the 1972 passage of the Clean Water Act, the federal government officially established the principle that commercial development need not necessarily lead to the degradation of the environment. With the understanding that individual sites may unavoidably suffer adverse effects, subsequent legislation in the years since has led to the creation of mitigation banks, which enable compliance with the CWA’s core mandate of “no net loss” to the environment.
THE BANK SITE AND THE MITIGATION BANKER
The bank site is an ecological area that has previously suffered environmental damage. The mitigation banker is an individual or entity who purchases the site and works with regulatory agencies to regenerate, restore, enhance or preserve the land. The bank is not only responsible for the initial restoration but also for future maintenance and preservation.
THE CREDITS
The interagency regulatory teams work together to establish liability and performance standards to which the bank site must be restored to prior to the approval of credits.
THE PERMITTEE AND THE SERVICE AREA
The permittee is the developer who without the availability of the mitigation bank’s credits would need to work through the complex and time-consuming maize of current regulations prior to development with no guarantee of success. The service area is the physical location of where development may occur for the specific mitigation bank.
THE TRANSACTION
In what is essentially a transfer of liability, the developer/permittee buys the required credits for the specific development project from the mitigation bank, and it becomes the bank’s responsibility to oversee the maintenance of the bank site for the long term.
THE OPPORTUNITY
The land, once restored, has increased value and often becomes a pristine ecological destination for the area, but typically has major restrictions on future site development in the form of conservation easements. Since the mitigation banks make their money by selling the mitigation credits, these now flourishing properties, rich in natural beauty and an abundance of wildlife, are packaged in land conservation trusts and sold to the public at unbeatable prices.
Although large portions of these properties are protected by the conservation trust and must forever remain undeveloped, in many cases, various easements have been carved into the properties, where buyers have the opportunity to make limited improvements.
Ecosystem Investment Partners (EIP), founded in 2006, is a well-known mitigation bank specializing in properties with degraded aquatic resources or species habitats throughout the USA. They purchase these properties and restore them according to the highest standards and ensure they are permanently protected.
Now partnering with the auction experts at The Future of Real Estate (FRE), these fully-restored utopian properties are available for purchase via online auction. The Future of Real Estate’s leading online auction platform gives buyers the power to perform their due diligence, bid on a property (including any contingencies) and complete the transaction - all from the convenience of their computer or smartphone.
These deals won’t last long! View available inventory today at www.fre.com/275R1.
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