Provides a brief review of the rules, listing history, and biological issues relevant to the status and protection of the pygmy-owl in Pima County. Land use in unincorporated northwest Pima County is analyzed to determine existing commitments and conservation opportunities, and in order to begin to answer the question of whether a general biological goal of conserving 80 percent of the pygmy-owl's habitat can be achieved.

Demonstrates that an effort to protect only listed species would lead to a reserve that was closer to the urbanizing areas of Tucson, and therefore more expensive. The Listed Species Reserve is also one that makes a call on more non-federal land. By limiting the focus of the reserve to listed species, the broader and long term benefits are lost, and trade-offs of high potential habitat are not based on such comprehensive biological principles.

On the County's behalf, the Arizona Open Land Trust has entered into two purchase agreements for the Buckelew Farms property. Under this conservation acquisition proposal, farming would continue in the areas currently farmed, grazing would continue on a seasonal basis, and the popular annual pumpkin festival would continue. However, the County and the Buckelew's would work together to enhance opportunities for wildlife habitat on the farm and grazing lands.

Provides an overview of types of mitigation banking activities that have evolved from the Army Corps of Engineers wetlands banking. The discussion provides important distinctions between traditional practices in the area of mitigation banking and banking for endangered species purposes. The potential role of private sector in this market is described, as well as the roles of federal and local government participants.