R-2828 Bank letters_Meadow Spring_Meadow Spring Initial Credial Credit Release 111318

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
November 13, 2018
Regulatory Division/1200A
Action ID No. SAW-2016-01989
Re: Initial Credit Release associated with Neu -Con Umbrella Mitigation Bank, Meadow Spring
Mitigation Site
Mr. Brad Breslow
EBX-Neuse I, LLC
302 Jefferson Street, Suite 110
Raleigh, North Carolina 27605
Dear Mr. Breslow:
This correspondence is in reference to the Neu -Con Umbrella Mitigation Bank, Meadow
Spring Mitigation Site, located at 2082 Wilson's Mills Road, in Smithfield, Johnston County,
North Carolina, within the Upper Neuse Cataloging Unit (03020201). 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, Neu -Con Umbrella Wetland
Mitigation and Stream Restoration Bank, approved April 2, 2001 and amended April 10, 2009; the
site -specific Meadow Spring Final Mitigation Plan September 2018 and approved October 24,
2018, 15 percent of the mitigation site's total restoration and enhancement stream and wetland
credits, and 100 percent of the mitigation site's total preservation stream credits shall be available
for sale immediately upon completion of all of the following:
a. Approval of the final mitigation plan;
b. Issuance of the 404 permit authorization for construction of the site;
c. Delivery of the executed financial assurance documents as described in Section III (F)
of the UMBI and Section 15, Page 55 of the Meadow Spring Mitigation Site Final
Mitigation Plan, dated September 2018; and
d. Recordation of the Corps -approved site protection mechanism described in Section III
(G) of the UMBI, and Appendix A of the Meadow Spring Mitigation Site Final
Mitigation Plan, dated September 2018, including a title opinion covering the property.

By copy of this correspondence, we confirm that you have satisfied the above requirements for
the initial credit release; and 899 stream mitigation units (SMU's) and 2.16 wetland mitigation
units (WMUs), constituting 15 percent of the mitigation site's total restoration and enhancement
stream credits (5440 SMUs) and wetland credits (14.41 WMUs), and 100 percent of the mitigation
site's total preservation stream credits (83 SMUs) 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(c,usace.army.mil or telephone [phone], Extension 22.
Sincerely,
r ` Digitally signed by GIBBY.JEAN.B.1229783633
l�u DN: c=US, o=U.S. Government, ou=DoD, ou=PKI,
�N0L1 ou=USA,cn=GIBBY.JEAN.6.1229783633
Date: 2018.11.13 12:50:14-05'00'
Jean B. Gibby
Chief, Raleigh Regulatory Field Office
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