Colaska, Inc., is getting in on the Wetlands Mitigation Banking action.
Colaska, which is involved in many Alaska highway projects, has submitted a proposal to the US Army Corps of Engineers to develop a mitigation bank in the Mat-Su Valley.
Colaska owns QAP. QAP won the contract for the big Glenn Highway realignment/upgrade project which is just getting underway. The proposed Mitigation Bank is located right nearby.
The State of Alaska appears to be supportive of Colaska’s planned mitigation bank as the prospectus explains that the mitigation bank land (but not the credits themselves) is going to be transferred to the State of Alaska and the State’s Department of Fish & Game Department is going to manage the wetlands as as part of the Palmer Hay Flats State Game Management Plan.
The loser here may be the Mat-Su Borough which has its own Wetlands Mitigation Bank – the Su-Knik Mitigation Bank – but which hasn’t sold any credits in many years.
Public Comments on the proposed Diamond Willow Mitigation Bank are due by January 17, 2019.
The Diamond Willow Bank is located right next to Colaska’s gravel operations near the Parks and Glenn Highways.
Here is more information from the prospectus..which can be downloaded in its entirety on the US Army Corps of Engineers Mitigation Bank RIBITS website.
Here is information about QAP’s Glenn Highway project: