LCTI through its affiliate expects to develop the LCTI Tidal Mitigation Bank developed on +/- 3,500 acres owned by LCTI located in Port Bolivar, TX. The property is located southwest of Rollover Pass and is a barrier island making it unique in that tidal mitigation credits can be developed on the property. Tidal mitigation credits are typically sold at a higher premium.
The Mitigation Bank is located in Chambers County, Texas. The service area for the Mitigation Bank extends from the Texas-Louisiana border to the east and to the approximate middle of Harris and Galveston Counties, Texas to the west. This service area includes two of the busiest port systems and waterways in the United States; the Galveston-Houston and the Sabine- Neches waterways.
The LCTI Tidal Mitigation Bank is anticipated to consist of approximately 2000 Functional Credit Units (“FCU’s”). The FCU’s will be developed for sale as credits for impacts to various wetland types including: estuarine, saltwater (tidal), stream, and special aquatic sites including mudflats and sand flats. In addition, site specific mitigation credits are available. Tidal influenced credits have sold for $150,000 to $600,000. LCTI has used a conservative credit price of $100,000.
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