20090858 Ver 3_Approval Letter_20130211

A L
NCDENR
North Carolina Department of Environment and Natural Resources
Division of Water Quality
Pat McCrory Charles Wakild, P.E.
Governor Director
February 11, 2013
Mr. Thomas Rinker
EBX -EM, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Re: Financial Assurance Reduction Approval
Ivey Ferguson Bank Parcel
Dear Mr. Rinker:
John E. Skvarla, III
Secretary
DWQ Project 42009 -0858 v3
Orange County
On February 8, 2013, the Division of Water Quality (DWQ) received a request for approval to reduce the
financial assurance required for the monitoring and maintenance performance obligations of EBX -EM,
LLC for the Ivey Ferguson Nutrient Offset mitigation bank in Orange County, North Carolina. Since
your request aligns with the implementation of the financial assurance provisions of your Cape Fear
Riparian Buffer and Nutrient Mitigation Umbrella Banking Instrument (UBI), we will allow the
following:
DWQ approved the first annual monitoring report for the subject mitigation bank on February 7, 2013 and
submitted a credit release letter documenting the approval. Therefore, your request to reduce the
financial assurance (Performance Bond No. 1000931771) from $150,000 to $120,000.00 from United
States Surety Company is hereby approved. This reduction is 20% of the original Performance Bond
amount of $150,000.00. Additionally, following DWQ approval of future monitoring reports, you may
request an additional 20% bond reduction as long as the site still meets DWQ success criteria. This site
has at least 4 more years of monitoring and maintenance.
Please feel free to contact Katie Merritt at (919) 807 -6371 if you have any questions regarding this
correspondence.
KAHIkym
cc: File copy (Katie Merritt)
Tommy Cousins (via electronic mail)
Wetlands, Buffers, Stormwater, Compliance and Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: 512 N. Salisbury St., Raleigh, North Carolina 27604 (9u, Floor)
Phone: 919 - 807 -6301 1 FAX: 919 - 807 -6494
Internet: http: // portal. ncdenr ,org /web /wq /swp /ws /webscape
An Equal Opportunity 1 Affirmative Action Employer
Sincerely,
Karen Higgins, Supervisor
Wetlands, Buffers, Stormwater, Compliance and
Permitting Unit
NorthCarolina
Natimalll,J