20090858 Ver 3_Financial Reduction (2)_20131101

NCDENR
North Carolina Department nf Environment @DdNafUr3|RpsoU[CeS
Division of Water Resources
Water Quality PK}gr@0S
Pat MCCn][V Thomas A, Reeder
GDV80O[ Director
November l,20|3
McThmnoxKiukoc
[8>(-EM, LiC
909CopobiUty Drive, Suite 3lO0
Raleigh, NC276O6
Re: Financial Assurance Reduction Approval
Ivey Ferguson Bank Parcel
Dear Mr. Rinker:
John E, SkV8rl8, III
Secretary
UW0Procd#2O09'0B58v3
Orange County
On October 28, 2013, the Division of Water Resources (DWR) received a request for the approval ot'a
20% reduction in the financial assurance required 6or1hu monitoring and maintenance performance
obligations of EBX-EM, LLC forthe Ivey Ferguson Nutrient On'set mitigation bank in Orange County,
North Carolina. Since this request aligns with the implementation of\hc Gnunoiu| assurance provisions or
Your Cape Fear Riparian Buffer and Nutrient Mitigation Dmbrc||o Banking Instrument (U8|), we will
allow the following:
DVYK approved the second annual monitoring report for the eubJcd mitigation bank m October 24,2U|3
and submitted u credit release letter dooumcnhng the approval, Therefore, Your request 10 reduce the
financial assurance (Performance Bond No. |O0093|77|) from $|50,00Oto$90,U80.O06nmUnited
States Surety Company ia hereby approved. This reduction is40%o[thc original performance Bond
amount of$l50,080.O0.
Please feel free to contact Katie Merritt at (9|9)8O7-637| if You have any questions regarding this
Sincerely,
401 and Buffer Permitting 1-�ujt
cc: File copy (Katie
CuruCondu' 2BX (via electronic mail)
401 and Buffer Permitting mm
1nm Mail Service Center, Raleigh, North Carolina 27699-165@
Location: o12w Salisbury St. Raleigh, North Carolina 27604
Phone: 9l9V0r-6a00\ FAX: [phone]
An Equal Opportunity \ Affirmative Action Employer