Northern Beaches Council has entered a biobanking agreement with the State Government to help fund the ongoing conservation of the ecologically-important Ingleside Chase Reserve.

The biobanking agreement is the first of its type for Council.

Negotiated with the NSW Office of Environment and Heritage, the agreement means a biobank site is established at Ingleside to help manage the land for conservation.

Under the biobanking agreement, Council receives credits calculated on the vegetation type and fauna species present. These credits can be sold to developers, for example, looking to offset their environmental impact.

This generates funds for Council for the environmental management of the site on an ongoing basis.