Encouraging private investment in Duwamish River restoration
Presentation Abstract
As a landowner on the Lower Duwamish River, the Port of Seattle has successfully completed numerous fish and wildlife habitat restoration projects, including creation of valuable estuarine wetlands and riparian buffers. These projects were funded, almost entirely, with public financing (i.e. tax revenue). On November 3, 2015, President Obama issued an Executive Memo which directed that public agencies should encourage private investment in the restoration of America’s natural resources. At small scales, private capital has been engaged in the restoration market on the Duwamish for several years, through the King County Mitigation Reserves Program, City of Seattle In-Lieu Fee Program, and Bluefield Holdings, a habitat banking firm that specializes in Natural Resource Damage (NRD) credits. For its part, the Port of Seattle is working towards a goal of constructing 40 acres of habitat restoration projects by using traditional and non-traditional funding mechanisms, which may include public-private partnerships and for-profit conservation banking. Following construction, restoration sites would remain publicly-owned and managed in perpetuity through a non-wasting stewardship endowment.
Session Title
Marine Ecosystem Restoration in the Urban Environment
Conference Track
Protection, Remediation and Restoration
Conference Name
Salish Sea Ecosystem Conference (2016 : Vancouver, B.C.)
Document Type
Event
Start Date
2016 12:00 AM
End Date
2016 12:00 AM
Location
2016SSEC
Type of Presentation
Oral
Genre/Form
conference proceedings; presentations (communicative events)
Contributing Repository
Digital content made available by University Archives, Heritage Resources, Western Libraries, Western Washington University.
Subjects – Topical (LCSH)
Restoration ecology--Washington (State)--Duwamish River Watershed--Planning; Natural areas--Washington (State)--Duwamish River Watershed--Management
Geographic Coverage
Salish Sea (B.C. and Wash.); Duwamish River Watershed (Wash.)--Environmental conditions
Rights
This resource is displayed for educational purposes only and may be subject to U.S. and international copyright laws. For more information about rights or obtaining copies of this resource, please contact University Archives, Heritage Resources, Western Libraries, Western Washington University, Bellingham, WA 98225-9103, USA (360-650-7534; heritage.resources@wwu.edu) and refer to the collection name and identifier. Any materials cited must be attributed to the Salish Sea Ecosystem Conference Records, University Archives, Heritage Resources, Western Libraries, Western Washington University.
Type
Text
Language
English
Format
application/pdf
Encouraging private investment in Duwamish River restoration
2016SSEC
As a landowner on the Lower Duwamish River, the Port of Seattle has successfully completed numerous fish and wildlife habitat restoration projects, including creation of valuable estuarine wetlands and riparian buffers. These projects were funded, almost entirely, with public financing (i.e. tax revenue). On November 3, 2015, President Obama issued an Executive Memo which directed that public agencies should encourage private investment in the restoration of America’s natural resources. At small scales, private capital has been engaged in the restoration market on the Duwamish for several years, through the King County Mitigation Reserves Program, City of Seattle In-Lieu Fee Program, and Bluefield Holdings, a habitat banking firm that specializes in Natural Resource Damage (NRD) credits. For its part, the Port of Seattle is working towards a goal of constructing 40 acres of habitat restoration projects by using traditional and non-traditional funding mechanisms, which may include public-private partnerships and for-profit conservation banking. Following construction, restoration sites would remain publicly-owned and managed in perpetuity through a non-wasting stewardship endowment.
