20160847 Ver 2_SAW-2016-02451 Initial Credit Release_20191122

Strickland, Bev
From: Dailey, Samantha J CIV USARMY CESAW (USA) <[e-mail]>
Sent: Friday, November 22, 2019 3:00 PM
To: Bradley Breslow; Katie Webber; Caitlan Parker
Cc: Tugwell, Todd J CIV USARMY CESAW (US); Kim Browning; Haupt, Mac; Davis, Erin B;
Wilson, Travis W.; Bowers, Todd
Subject: [External] SAW-2016-02451 / Environmental Banc and Exchange, LLC/ RES Cape Fear
02 UMBI / Cloud and Banner Stream and Wetland Mitigation Site / Initial Credit
Release Letter
Attachments: SAW-2016-02451 Cloud and Banner Initial Credit Release.pdf
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Good afternoon Brad,
Attached is the initial credit release letter for the:
SAW-2016-02451 / Environmental Banc and Exchange, LLC / RES Cape Fear 02 UMBI / Cloud and Banner Stream and
Wetland Mitigation Site / Alamance County
Please let me know if you have any questions.
Sincerely,
Sam
Samantha Dailey
Regulatory Project Manager
U.S. Army Corps of Engineers
Regulatory Division
3331 Heritage Trade Drive, Suite 105
Wake Forest, NC 27587
[phone], Ext. 22
[e-mail]
1

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
November 22, 2019
Regulatory Division/1200A
Action ID No. SAW-2016-02451
Re: Initial Credit Release associated with RES Cape Fear 02 Umbrella Mitigation Bank, Cloud
and Banner Stream and Wetland Mitigation Site
Mr. Brad Breslow
Environmental Banc and Exchange, LLC
302 Jefferson Street, Suite 110
Raleigh, North Carolina 27605
Dear Mr. Breslow:
This correspondence is in reference to the RES Cape Fear 02 Umbrella Mitigation Bank,
Cloud and Banner Stream and Wetland Stream Mitigation Site, located at 2209 N. NC Highway
119, in Mebane, Alamance County, North Carolina. The site is located within the Black Creek
watershed and the Cape Fear River Cataloging Unit (03030002). The purpose of this letter is to
confirm the initial release of credits for this mitigation site.
Pursuant to the Mitigation Banking Instrument (UMBI) entitled, Agreement to Establish the
RES Cape Fear 02 Umbrella Mitigation Bank in the Cape Fear River Basin within the state of
North Carolina, approved February 9, 2018; and the site -specific Cloud and Banner Stream and
Wetland Site Final Mitigation Plan, approved April 16, 2019, fifteen percent (15%) of the
mitigation site's total restoration and enhancement stream and wetland credits and 100% of the
mitigation site's total preservation stream and wetland credits shall be available for sale
immediately upon completion of all of the following:
a. Approval of the final mitigation plan (April 16, 2019);
b. Issuance of the 404 permit authorization for construction of the site (April 16, 2019);
c. Delivery of the executed financial assurance documents as described in Section IX of
the UMBI and Section 14, Page 48, of the Cloud and Banner Stream and Wetland
Mitigation Site Final Mitigation Plan, approved April 16, 2019; and
d. Recordation of the Corps -approved site protection mechanism described in Section X
of the UMBI, and Appendix B of the Cloud and Banner Stream and Wetland
Mitigation Site Final Mitigation Plan, approved April 16, 2019, including a title
opinion covering the property.

By copy of this correspondence, we confirm that you have satisfied the above requirements for
initial release; and 721.4 stream mitigation units (SMU's) and 2.08 wetland mitigation units
(WMUs), constituting 15% of the mitigation site's total restoration and enhancement credits
(4,045.4 SMUs and 7.2 WMUs) and 100% of the mitigation site's total preservation credits (114.6
SMUs and 1.0 WMU) are now available for sale.
Thank you for your interest in restoring and protecting waters of the United States. If you have
questions regarding this letter, please contact Samantha Dailey, Raleigh Regulatory Field Office at
Samantha.J.Dailey&usace.army.mil or telephone [phone], Extension 22.
Sincerely,
GIBBY.JEAN.B.12 Digitally signed by
GI BBY.JEAN.B.1229783633
29783633 Date:2019.11.22 14:56:31-05'00'
Jean B. Gibby
Chief, Raleigh Regulatory Field Office
Electronic Copies Furnished:
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