25067_Dynatech III_LOE 20211117 rev_map

November 17, 2021

Sent Via Email

Kevin North
704 West Tremont Owner, LLC
c/o Toomey Multifamly JV, LLC
4445 Willard Av, Suite 900
Chevy Chase, MD 20815
[e-mail]

Subject: Letter of Eligibility Revised
Dynatech III
2207, 2301, 2315 & 2325 Toomey Ave; 704 & 728 West Tremont St
Charlotte, Mecklenburg County
Brownfields Project Number 25067-21-060

Dear Mr. North:

The North Carolina Department of Environmental Quality (DEQ) has received and
reviewed your August 13, 2021 Amendment to Brownfields Property Application (BPA)
submitted by Chris Walker of Alexander Ricks, PLLC on behalf of 704 West Tremont Owner,
LLC as a Prospective Developer seeking a Brownfields Agreement regarding the Brownfields
Property. The revised application indicates a change in prospective developer and realignment of
brownfields properties.

The applying Prospective Developer entity for the subject property is 704 West Tremont
Owner, LLC, whereas the subject property was previously accepted into the Brownfields Program
on February 5, 2021 with Abacus Acquisitions, LLC (Abacus) as the Prospective
Developer. Abacus requests that a separate Brownfields Property be created to include 2207
Toomey Ave (Parcel# 11906424), 2301 Toomey Ave (Parcel # 11906429), 2325 Toomey Ave
(Parcel# 11906426), 704 West Tremont Ave (Parcel# 11906420), 728 West Tremont Ave/2315
Toomey Ave (Parcel # 11906417), and the remaining portions of 2213 Toomey Ave after the
parcel lines are redrawn (i.e., some of the land between the red and blue boundary lines shown on
the attached figure that will not be part of the Dynatech II Brownfields agreement).

Upon review of the Amendment BPA with respect to the requirements of the Brownfields
Property Reuse Act of 1997, DEQ has determined that this project remains eligible for entry into
the North Carolina Brownfields Program (NCBP) and for continued evaluation for a Brownfields
Agreement (BFA).

According to the BPA, the intended redevelopment for the Brownfields Property is
multifamily residential. Because risk management decisions may vary depending on the nature of
the redevelopment, it will be important that DEQ review the locations of the various
elements. Please forward any maps or drawings indicating these details, even if they are only
preliminary or conceptual.

Please note: pending execution of a final BFA, NCBP eligibility is provisional. The
protections a BFA offers the Prospective Developer are not in effect, unless and until, the BFA is
executed. If you occupy the Brownfields Property or operate or conduct activities at
the Brownfields Property that result in a release of regulated substances before a BFA has been
finalized for the Brownfields Property, you may be considered to have caused or contributed to
contamination at the Brownfields Property. Because an entity that could be considered to have
caused or contributed to contamination at the Brownfields Property cannot be a Prospective
Developer under the Act, your eligibility for participation in the NCBP would be placed in
jeopardy. Consult closely with your Project Manager regarding any planned site activities prior to
agreement finalization. You are cautioned to conduct all such operations and activities at
the Brownfields Property with great care not to cause a release of regulated substances at
the Brownfields Property that could jeopardize your eligibility for participation in the NCBP.

If a party other than the 704 West Tremont Owner, LLC will own the Brownfields
Property at the conclusion of the brownfields process, the final document (which gets recorded at
the register of deeds’ office) must be signed not only by Prospective Developer, but by that
owner. Failure by the Prospective Developer to ensure, by the time the BFA negotiations are
complete, the willingness to sign of any such party, and to provide DEQ the exact name, email
address, telephone number, and US mail address of the party (along with the signatory/signatory’s
tile in the case of an entity) will delay, and could prevent, the BFA taking effect.  

We are excited about the potential for public benefit offered by the reuse of the former
Dynatech site, and look forward to working with you to advance this brownfields redevelopment
project.  If you have questions about this correspondence or require additional information, please
feel free to contact the project manager (Carolyn Minnich) by phone at 704/661-0330, or by e-
mail at [e-mail].
Sincerely,

Bruce Nicholson
Brownfields Program Manager

ec:  Central Files, DEQ
Michael E. Scott, DEQ
Carolyn Minnich, DEQ
Wes McAdams, [e-mail]
Laura Truesdale, [e-mail]
Mary Katherine Stukes, [e-mail]

INTERSTATE 77Parcel ID 119064242207 Toomey AvenueFormer Dynatech Parcel(Current Configuration)Parcel ID 119064282213 Toomey AvenueParcel ID 119064292301 Toomey AvenueParcel ID 11906420704 W Tremont AvenuePlanned PropertyRecombination2213 Toomey AvenueParcel ID 119046262320 Toomey AvenueParcel ID 11906417728 W Tremont AvenueParcel ID 119064262325 Toomey AvenueDRIVEWILMOREW TREMONT AVENUEVILLAGE COURTTOOMEY AVENUEAPPROXIMATE SCALE IN FEET028014070IMAGE SOURCE: NC ONEMAPCharlotte, North Carolina 282178720 Red Oak Boulevard, Suite 528www.partneresi.comFax.: 704-353-7050Tel.: [phone]DateProject No.Reference Dwg.Project:PMDrafterSketch No.DesignerChecked ByTitle:Dynatech II Brownfields Project (25001-21-060)Toomey Avenue and West Tremont AvenueFigure 3Site Map with Proposed Redevelopment21-3706208.12.21DHADF3ADDH3Charlotte, North CarolinaConditionsEXPLANATIONDynatech II Brownfields Project ParcelsN