Comprehensive Update on Phase III of the Healthy Watershed Forest Project - Project Team Mr. David. Mr. James reviewed that Mr. David started on this project in 2018. He stated they Update on Phase III of the Healthy Watershed Forest Project - Project Team Mr. David. Mr. James reviewed that Mr. David started on this project in 2018. He stated they have proved the point that what localities can do to improve local policies and what is and is not acceptable, They have generated 200+ page reports. He said they are at the stage where they are at the cusp of making it operational.

Mr. David gave some background on himself and how he has been around during the Chesapeake Bay Act and water quality all his life. He states this project got his attention thinking about how everyone lives downstream from someone and how in Orange County can they help with the water quality of the Chesapeake Bay. As time went on he states he became very intrigued with this. One of the things is how to take the goal of working with land owners and how to monetize them to invest in trees and forests and where is there a way to do that. He also said one of the things interesting to him was RRBC, proxy to the watershed, public private, financial structure, strategy for How do they spend dollars. He said there may be another fit to maintaining economic development. He feels very comfortable with the context of bringing dollar into the localities without the tradition of how it is normally done. He provided a slide show the 10-year trend of farms, land in farms, value of land and buildings and land use. He said these are the 3 ways to do this:

Improve forest management-there is a workforce development that needs to be tased out. Avoiding conversion is a planner thing, and which one creates more cost or less water quality, afforestation and reforestation. He said if this get beyond this and once people see how this is working and are comfortable with it with the EDAs. Carbon components - Mr. Van Voorhis states it illustrates carbon come from lots of different components above ground and the root structure. And two places people do not consider much is the fallen trees. Through the harvesting cycle of things, a piece of it is perpetually retuned in it. Ultimately that carbon is sold like wine in terms of vintage years. He said he was just down in the Mississippi Delta and talking about their needs and what we are doing in Virginia. Their volume ends would be a quarter of the state of Virginia and they can make every available maximum ton that can be sequestered from it. We are actively in discussion with 5 different major corporations coming out of these EDAS. Mr. David said there is always after the fact and rather than doing it ahead of time and because it is after the fact and after it has been measured, verified and validated. It should give comfort for all involved they are doing a look back and not forward as an after the fact transaction.

Mr. Van Voorhis walked the Commission through the carbon process. He said all biological systems having growing seasons. After October comes around they take a certain measurement of the trees and the biomass data is converted into carbon and then goes into a verification process were a their party cost is involved.

They look at who owns the property, how much acreage and how do I know what the growth is year after year, by looking at the total biomass and carbon in the pools. Once that varification and ownership is complete it is sent to a registry and gets a serialization per ton. It is a string of