Fisheries Trust celebrates first million pound fishing season

Published on Tuesday, August 24, 2010

Supporters and fishermen to be honored at reception Sept. 2

The Cape Cod Fisheries Trust will commemorate its first full year of operations next week by honoring all those who have supported the program with special gifts.

A reception will take place September 2, 2010, at 5 p.m., at Fisherman's Daughter in Chatham. Each donor, fisherman and volunteer will receive a token of appreciation from the Trust, designed and crafted by local businesses Fisherman's Daughter, Vervaine Design Studio and SeaCheryl Designs.

"Without all of our contributors and participants, this fleet would be struggling," said Trust Founder and Director Paul Parker. "We wanted to do something to really let our supporters know how much their involvement with the Trust means."

Over the past year, the Trust directly aided 108 fishing boat captains and crew members. Over $3 million has been raised to help the Lower Cape's small-boat commercial fleet.

One million pounds of groundfish and scallop quota has already been distributed through the Trust, a model for similar programs that have sprung up across the country since its founding in 2005.

A dozen foundations have provided grants and loans and more than 50 individual donors have generously stepped up to allow the Trust to buy groundfish and scallop quota and lease it back to qualifying fishermen at affordable rates. The fishermen, in turn, are using sustainable business models to make sure that the investment is worthwhile.

"Our permit bank is helping these fishermen keep their homes, feed their families and do what they need to do to continue to operate," Parker said. "We're well on our way to reaching our goal of raising $10 million to make this program fully operational."