Wetland listings

[Smiling JOe]

I don't remeber his name and I didn't walk the property. I Only spoke on the phone with him. He said it was ten acres. I did, however, come across it at this site. http://www.destin-florida-real-estate.com/commercial/409966/

That is Kramer's piece. Thanks for the info.

 

[DuneDog]

I have a question....why do you buy wetlands and what is mitigation?

In my very limited understanding you may purchase an increased quantity of wetlands to offset the use or development of wetlands you may have on your property. This could be a multiple from 5 to 60 times the amount of wetlands you are trying to use (mitigate). You then give the state a conservation easement on the wetlands you purchase so that they will never be developed. It is also based on quality of the wetlands and other factors as determined by the FL DEP. A complicated procedure so I am told.

 

[Kurt]

I have a question....why do you buy wetlands and what is mitigation?

http://www.sowal.com/bb/showthread.php?t=539&highlight=mitigation

 

[goofer]

Very educational thread. Kurt, thanks for the link to the Florida wetland site..... interesting. Surprised at the cost of wetland acreage !!

 

[SHELLY]

Very educational thread. Kurt, thanks for the link to the Florida wetland site..... interesting. Surprised at the cost of wetland acreage !!

Puts a whole new spin on the old, "Do you wanna buy some swampland in Florida?" come-on.

 

[lost in sowal]

I posed a similar question to this a while back. What is the going rate for 1 acre of swampland in South Walton?

 

[Advance The Man]

I live outside the Emerald Coast area, however do live in Florida. All of Florida has a Water Mgt District (WMD) assigned to it. I don't know which district handles yours, but they are the ones to contact. They will have a list of Mitigation Banks you can contact. Before you do that, the WMD will inform what quantity of wetlands you have to off-set (mitigate). The quality of wetlands will determine if you have to purchase at a 1:1 ratio or something worse such as 3:1. Mitigation Banks sell credits. The WMD will determine how many credits would have to be purchased. Once purchased the Mitigation Bank sets aside a portion of their wetland area.

 

[Advance The Man]

Another thing, I was involved with a transaction in the Tallahassee area last year with wetlands. They sold for $4500 per acre. The highest dollar wetland sale I have seen was $12000 per acre.

 

[Smiling JOe]

Another thing, I was involved with a transaction in the Tallahassee area last year with wetlands. They sold for $4500 per acre. The highest dollar wetland sale I have seen was $12000 per acre.

Today, I saw some wetland property near Defuniak Springs listed for around $3500 per acre. If I correctly understand it, the mitigation land has to be purchased in the general area of the property to be mitigated. For example, one could not go to DeFuniak to purchase mitigation land for property located in SoWal.

The current ratios vary from as little as 2:1 up to as high as 60:1.

 

[DuneDog]

I live outside the Emerald Coast area, however do live in Florida. All of Florida has a Water Mgt District (WMD) assigned to it. I don't know which district handles yours, but they are the ones to contact. They will have a list of Mitigation Banks you can contact. Before you do that, the WMD will inform what quantity of wetlands you have to off-set (mitigate). The quality of wetlands will determine if you have to purchase at a 1:1 ratio or something worse such as 3:1. Mitigation Banks sell credits. The WMD will determine how many credits would have to be purchased. Once purchased the Mitigation Bank sets aside a portion of their wetland area.

Thanks for the info. I will definitely check out this avenue. I have been in touch with the FL DEP and they suggested I buy the mitigation land outright and then place a conservation easement on it. However, nobody at the DEP metioned mitigation banks but I have read about them.