Community-based Sectors for the New England Groundfish Fishery

Table of Contents
Executive Summary............................................................................................................ 2
1.0 Introduction................................................................................................................... 7
2.0 Background on the Groundfish Fishery and Sectors .................................................... 7
2.1 Sectors in the New England Groundfish Fishery.................................................... 10
2.2 Experience with Existing Sectors in the New England Groundfish Fishery .......... 13
3.0 Case Studies................................................................................................................ 14
3.1 Port Clyde Community-based Groundfish Sector .................................................. 14
3.1.1 Strawman Sector Structure and Operational Plan:........................................... 16
3.1.2 Economic Feasibility ....................................................................................... 18
3.1.3 Matching Catch to ACE................................................................................... 23
3.2 Portland Community-based Groundfish Sectors .................................................... 25
3.2.1 Strawman Sector Structure and Operational Plan:........................................... 27
3.2.2 Economic Feasibility ....................................................................................... 30
3.2.3 Matching Catch to ACE................................................................................... 38
3.3 Permit Bank ............................................................................................................ 40
3.3.1 Financing a Permit Bank.................................................................................. 41
3.3.2 Economic Feasibility of a Permit Bank ........................................................... 43
4.0 Operational and Regulatory Issues for Sectors........................................................... 46
4.1 Sector Implementation............................................................................................ 46
4.2 Rolling Baseline for Sector Allocations ................................................................. 46
4.3 Balancing Catches with Allocations ....................................................................... 48
4.4 Communities without Catch History ...................................................................... 49
5.0 Conclusions................................................................................................................. 49
5.1 Recommendations................................................................................................... 52
References......................................................................................................................... 53
Appendix A: Landings and revenue projections............................................................... 55
Appendix B: Groundfish Price Model .............................................................................. 57
Appendix C: Sector Proposals Submitted to the NEFMC in April and May of 2007...... 59
1