AUSTIN, Texas, Dec. 8, 2016 /PRNewswire/ -- Val Verde Conservancy, LLC (VVC) is pleased to announce that it has recently obtained formal approval from the U.S. Fish and Wildlife Service (USFWS) Region 2 for the Val Verde Conservation Bank (VVCB) in Val Verde County Texas. Located near Devils River State Park in Southwest Texas, VVCB is the only USFWS approved bank providing conservation credits for the federally endangered Black Capped Vireo (Vireo atricapilla) in the entire state. The initial phase of the credit release includes 500 acres, with subsequent phases totaling nearly 6,500 acres of available conservation credit habitat.
"Developing conservation banks is a lengthy and complex process. Obtaining USFWS approval not only marks a significant milestone for protecting key Black Capped Vireo nesting habitat, but it also provides a robust conservation banking solution for those renewable and large scale infrastructure projects operating within our primary and secondary service areas."
- Brad Davis,
VVC Managing Partner
From spring to early summer, the Black Capped Vireo follows its migratory route back from Western Mexico to its nesting habitat in Central Texas. VVCB is strategically located in a primary nesting location that provides thousands of acres of refuge to the endangered songbird.
Advantages to Companies
- Prevents costly delays during site planning and construction
- Offset investment speeds up the regulatory approval process
- Improves project budgeting and capital forecasting
- Under certain circumstances credits can be obtained concurrent with project construction
- Removes long-term environmental species liability
Why Conservation Banking?
When a project or land-use activity impacts habitat for threatened or endangered species, those seeking permits may be required to offset those impacts. Conservation banking credits offer a cost-effective, zero-liability, previously-approved method for providing necessary mitigation.
Compensatory mitigation is the recommended method by both the USFWS and the U.S. Army Corps of Engineers. Purchasing credits from an approved conservation bank eliminates on-going liability and releases developers from any further fiscal or disclosure requirements associated with their habitat conservation obligations. The conservation bank retains responsibility for all aspects of the bank, allowing purchasers to simply buy credits and streamline the permitting process.
Information related to VVCB bank approval and credit availability can be found here on the US Army Corp of Engineers (USACE) under "RIBITS" the Regluatory In-Lieu Fee and Bank information Tracking System.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/endangered-bird-gets-protection-from-big-industry-in-texas-300375413.html
SOURCE Val Verde Conservancy