(02/09/2016)

21 potential credit developers submitted Letters of Interest to generate credits


In December, the State announced $1,000,000 in funding through the Sagebrush Ecosystem Program for projects that will enhance and restore high quality greater sage-grouse habitat on private and public land. The purpose of these funds is two-fold: (1) improve greater sage-grouse habitat, and (2) create a supply of “compensatory mitigation credits” to be used in the Nevada Conservation Credit System.

 

Letters of Interest were due February 8th, the State had received 21 Letters of Interest from potential credit developers. Next State staff will determine the eligibility of projects proposed, work with project proponents to develop full proposals and select projects for funding based on the cost effectiveness of generating credits among other criteria. Full proposals will include mutually agreed upon terms for the State to recover the upfront funding provided so that the State can reinvest the funds in additional habitat projects in the future.

 

The State of Nevada legislature also approved $1,000,000 of funding for habitat enhancement and protection in FY2017. A similar solicitation process is expected to be announced for the investment of these funds in late 2016.

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