butterfly 2

	Greg Readden and his partners own 2,000 acres of prime development land on the periphery of the nationÕs hotttest housing market, western Riverside county. They couldnÕt be more worried.
	ÒWe are praying,Ó says Readden, BLAH BLAH of JPR Building, Inc. ÒWe donÕt know what the future is going to hold, and no one is going to tell us.Ó
	Like scores of builders, development companies and landowners with a stake in weatern Riverside, ReaddenÕs plans to profit from the growth of the area were derailed in WHEN WHEN, when the federal fish and wildlife service discovered nearby traces of the fickle quino checkerspot butterfly, which is protected under the Edangered Species Act. The discovery meant that developers would have to enter a costly and time-consuming process of permit applications, land surveys and mitigation plans to have even a chance of building homes or offices.
	But unlike his peers in the building industry, Readden turned his back on development and has instead bet the farm on a far more novel -- and risky -- use of his land. He has turned it into what environmentalists call a Òconservation bank,Ó