20080229 Ver 1_Buffer Credit Release Memo 1_20080716

OO? WA
??9QG
6
b-
0
lii? _9?
July 16, 2008
Mr. Richard Mogensen
Mid-Atlantic Mitigation, LLC
1960 Derita Road
Concord, NC 28027
Re: Credit Release #1
Forrest Creek Buffer Mitigation Bank
Orange County
DWQ #08-0229
Dear. Mr. Mogensen:
Michael F. Easley, Governor
William G. Ross Jr., Secretary
North Carolina Department of Environment and Natural Resources
Coleen Sullins, Director
Division of Water Quality
The Division of Water Quality (DWQ) 401 Oversight and Express Review Permitting Unit has received
a copy of the recorded Conservation Easement and Survey for the above-refereneed'buffer mitigation
bank.
As indicated in Section 18 of the executed Agreement to Establish the Forrest Creek Riparian Buffer
Mitigation Bank (April 2, 2008), 20% of the credits are to be awarded upon approval of the Bank Parcel
Development Package and recording of the Conservation Easement for the property.
By copy of this correspondence, DWQ confirms that you have satisfied the above requirements and
20% of your riparian buffer credits (0.2 x 658,000 =131,600 credits)-are now available for sale.
Upon demonstrating that the site work has been completed and the monitoring plots established, a
second credit release of 20% will occur. Following DWQ's approval of the As-Built Report and
demonstration of the purchase of a monitoring bond, and additional 10% of the credits will be relased.
Please copy DWQ on all correspondence related to credit sales, referencing the DWQ project number
associated with the impacts for which credits are being purchased as compensatory mitigation. In
addition, we anticipate receiving the first monitoring report and credit/debit report at the end of the first
growing season.
One
N j)
fthCaro1ma
atura!;
401 Oversight/Express Review Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699-1650
2321 Crabtree Boulevard, Suite 250, Raleigh, North Carolina 27604
Phone [phone] / Fax [phone]
Internet: http://h2o.enr.state.nc.us/ncwetlands
An Equal Opportunity/Affirmative Action Employer- 50% Recycled/10% Post Consumer Paper
Mr. Mogensen
Forrest Creek Buffer Mtigation Bank
Page 2 of 2
Please feel free to contact Eric Kulz at [phone] if you have any questions regarding this
correspondence.
Sincerely,
Cyndi B. Karoly, Program Manager
401 Oversight and Express Review Program
cc: File Copy (Eric Kulz)
Central Files
Lauren Witherspoon - Raleigh Regional Office
o e
N hCarolina
Ntoa!!y
401 Oversight/Express Review Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699-1650
2321 Crabtree Boulevard, Suite 250, Raleigh, North Carolina 27604
Phone [phone] / Fax [phone]
Internet: http://h2o.enr.state,nc.us/ncwetlands
An Equal Opportunity/Affirmative Action Employer- 50% Recycled/10% Post Consumer Paper