Waccamaw Mitigation Bank
The Lyme Forest Fund III acquired a 755-acre wetland mitigation bank in April 2013 in partnership with Environmental Banc & Exchange (EBX). The Mitigation Banking Instrument (“MBI”) for the Waccamaw Mitigation Bank was approved by the U.S. Army Corps of Engineers in June, 2013. Pursuant to the MBI, EBX Waccamaw donated the underlying land to the South Carolina Department of Natural Resources and retained the right following an easement to restore the property and operate the bank.
The property, located outside of Myrtle Beach, South Carolina, is an inholding in the Lewis Bay Heritage Preserve and comprises a series of Carolina Bays, relic pine savanna, and xeric longleaf pine sand rim. Restoration activities will consist primarily of prescribed burns.