Wetland ecosystems situated in the Lac La Biche, Alberta watershed provide environmental goods and services whose values are not incorporated in land use decision-making. Ignoring the economic value associated with wetland conservation underestimates the true cost of land development, and may lead to land-uses that do not maximize benefits to society. I conduct an economic valuation, stakeholder consultation, legal analysis and explore the relationship between land uses and the Lac La Biche aquatic ecosystem to determine the viability of establishing a natural area relative to the current land use regime in Lakeland County, Alberta. The analysis evaluates a variety of voluntary and mandatory land conservation techniques utilized to establish a natural area. I conclude the natural area designation is a viable policy option relative to the status quo and the collective use of voluntary and mandatory techniques will likely achieve the stated policy objectives.