SBMA Can Profit From The Forests

From a reader:
I just returned from attending the public hearing at the Convention Center on the new common use fee. It was explained at the hearing that the fee was needed largely because SBMA's principal source of revenue---lease payments---had dried up. Exisiting leases have been paid in full in advance, and SBMA has run out of land to lease, 60% of the Freeport being forest protected from development. However, SBMA could cash in on the 60% of the Freeport not open for development.

A number of companies have sprung up to sell "carbon offsets". Go to: http://planetgreen.discovery.com/travel-outdoors/top-carbon-offset-companies.html. These companies engage in reforestation projects, planting trees for the purpose of capturing carbon which would otherwise contribute to global warming. Individuals, companies, and governments purchase "carbon offsets" from these tree planting companies to compensate for the carbon generated by their activities. For example, an individual might buy a carbon offset to compensate for the carbon generated by an airplane flight.

Over the years, SBMA, its locators, and others have engaged in reforestation projects in the Freeport, but SBMA has not sought to market it's tree planting opportunities. With it's competitive labor rates, and fecund soil, and hothouse climate, SBMA could sell rights to reforest cut over areas in the Freeport to these carbon offset companies. By selling carbon offsets, these companies generate cash "up front"--before the trees are planted and grow to maturity--and thus could be a source of up front payment to SBMA for reforestation rights.

This would provide a new source of revenue for the Freeport and obviate the need for common use fees.