R-2828 Bank letters_Meadow Spring_Meadow Spring Task 2 Credit Release 081919

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
August 19, 2019
Regulatory Division/1200A
Action ID No. SAW-2016-01989
Re: Second Credit Release (As -Built Implementation) 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 second release of credits (As -Built Implementation) 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 (Plan) dated September 2018 and approved
October 24, 2018; and the Meadow Spring Mitigation Site As -Built Baseline Monitoring Report
dated July 2019, 15 percent of the mitigation site's total restoration and enhancement stream and
wetland credits shall be available for sale immediately upon completion of all of the following,
a. Successful completion of all stream restoration and enhancement activities (As -Built
Construction) as described in the Plan, dated September 2018;
b. Successful completion of all planting activities as described in the Plan, dated
September 2018; and
e. Successful completion of easement fencing suitable for livestock exclusion as outlined
in the Plan, dated September 2018.
Please note that all conditions of the Plan have been fully met, and the construction and
planting activities have been completed; therefore, the Construction Performance Bond for the
Meadow Spring Mitigation Site is hereby released. The monitoring and maintenance bond, letter
of credit, or casualty insurance must be received by October 31, 2019. Failure to comply may lead
to a suspension in credit sales.

By copy of this correspondence, we confirm that you have satisfied the above requirements for
the initial credit release; and 816 stream mitigation units (SMU's) and 2.16 wetland mitigation
units (WMUs), constituting 15 percent of the mitigation site's total restoration and enhancement
credits (5440 SMUs and 14.41 WMUs) are now available for sale. To date, 30 percent of the total
stream and wetland restoration and enhancement credits (1632 SMUs and 4,32 WMUs) and 100
percent of the total preservation credits (83 SMUs) have been released. Our records indicate that
zero SMUs and 1.44 WMUs associated with this mitigation site have been debited as of August
19, 2019. Therefore, the current total amount of credits available for sale are 1715 SMUs and 2.88
WMUs
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
[e-mail] or telephone [phone], Extension 22.
Sincerely,
Q/ / Jean B. Gibby
" I/ Chief, Raleigh Regulatory Field Office
Electronic Copies Furnished:
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