The J. M. Burguieres Co. Announces Closing of Bayou Sale Coastal Forest Servitude --Ensures Permanent Protection of Large Tract of Pristine Cypress Forest--
FRANKLIN, La., Dec. 18, 2012 /PRNewswire-iReach/ -- The J.M. Burguierès Co. Limited today announced that its subsidiary, JMB Partnership, LLC, successfully closed the Bayou Sale Coastal Forest Conservation Servitude. This perpetual conservation servitude is held by the Coastal Protection and Restoration Authority (CPRA), a division of the State of Louisiana. It will protect and preserve more than 4,700 acres of pristine cypress forest in southern St. Mary Parish, Louisiana. This property is believed to contain the southernmost self-regenerating Cypress forest in the state
Forest conservation servitudes are agreements that bind a public or private conservation organization and a private landowner in perpetuity. Forest conservation servitudes maintain the owner's title to the property and allow certain activities to occur according to mutually-agreed-upon-terms, while ensuring the long-term protection of the property's natural, ecological and landscape characteristics. Forest conservation servitudes remain in effect indefinitely, and any subsequent owner would have to respect the rights and uses established by the original agreement.
The Bayou Sale Coastal Forest Conservation Servitude was acquired through the CPRA's Coastal Forest Conservation Initiative using funds from a Federal financial assistance award -- the Coastal Impact Assistance Program (CIAP), a one-billion dollar Federal funding program to help oil and gas producing states and their coastal subdivisions mitigate impacts from production on the Outer Continental Shelf. The program is administered by the U.S. Fish and Wildlife Service. This project is part of an overall strategy for restoring, protecting and conserving Louisiana's Coastal Forest System. It provides opportunities for restoration, conservation and enhanced sustainability of coastal forest tracts that provide significant ecological value and storm damage reduction functions.
Glenn J. Vice, President of The J.M. Burguières Co., commented, "We are delighted to conclude the Bayou Sale Coastal Forest Conservation Servitude agreement with the State of Louisiana. JMB is a family-owned business that has a 135-year history of developing successful land-based businesses in Louisiana and nearby states and a legacy of responsible development and environmental stewardship. This coastal forest conservation agreement also aligns nicely with our recent activities in Wetland Mitigation Banking, a sector in which we have developed considerable expertise and which similarly builds on our deep roots in the region and our commitment to environmental sustainability."
The J.M. Burguières Co., Ltd. was founded in 1877 and has prospered through the years as a land acquisition and holding company with property interests in south Louisiana, south Florida and west Texas. The company is one of the largest single family-owned land holding companies currently in operation in Louisiana and is committed to long-term investment opportunities. For more information, visit http://jmbcompanies.com/.
SOURCE J.M. Burguières Co., Ltd.