R-2828 Bank letters_Pancho_Pancho_SAW-2010-00142 Panch Final Credit Release and Closeout Letter

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
REPLY TO
ATTENTION OF:
December 18, 2019
Regulatory Division/1200A
Action ID No: SAW-2010-00142
Re: Final Approval (Closeout) and Credit Release associated with Pancho Stream and
Wetland Umbrella Mitigation Bank, Pancho Stream and Wetland Mitigation Bank
Mr. Worth Creech
Restoration Systems, LLC
1101 Haynes Street, Suite 211
Raleigh, North Carolina 27604
Dear Mr. Creech:
This correspondence is in reference to the Pancho Stream and Wetland Umbrella
Mitigation Bank, Pancho Stream and Wetland Mitigation Bank, located on the north and
south sides of Stevens Mill Road (NCSR 1008), northeast of Newton Grove and
southwest of Princeton, Wayne County, North Carolina. The mitigation site is adjacent to
and including Kennedy Mill Branch, within the Neuse River Basin, Hydrologic Unit Code
(HUC) 03020201. The purpose of this letter is to confirm the closeout and final release of
stream and wetland restoration credits associated with the Pancho Stream and Wetland
Mitigation Bank.
Pursuant to the Umbrella Mitigation Banking Instrument entitled, Pancho Stream and
Wetland Mitigation Bank, approved April 26, 2012, and amended February 19, 2013; the
site -specific Pancho Stream and Wetland Mitigation Bank dated March 2012; and the
Annual Monitoring Report Year 7 (2019), the remaining 10 percent of stream and wetland
restoration and enhancement credits shall be available for sale provided the Year 7
monitoring report demonstrates interim performance standards are being met.
By copy of this correspondence, we confirm that you have satisfied all requirements
as outlined in your final mitigation plan dated March 2012, and the remaining 840.7
stream mitigation units (SMUs) and 2.83 wetland mitigation units (WMUs) are now
available for sale. Total credits released for the Pancho Stream and Wetland Mitigation
bank include 8419 SMUs and 29.75 WMUs.

Please note that now that the site has been closed and all credits have been
released, any provisions regarding long-term maintenance of the site or required financial
assurances as specified in the mitigation banking instrument continue to apply. If the
conservation easement for the site has not already been transferred to the long-term
steward, it must be transferred and notification sent to the Corps documenting the
transfer within 60 days of the date of this letter. Failure to do so will result in suspension
of the release of credits from the Pancho Stream and Wetland Mitigation Bank. Also, note
that any additional credits transactions associated with this site must be documented and
provided to us in accordance with the requirements of your instrument.
Thank you for your interest in restoring and protecting waters of the United States. If
you have any questions, please contact Samantha Dailey at [phone] extension
22.
Sincerely,
Digitally signed by
GI13BY.JEAN.I3 GlBBY.JEAN.l3.l22978363
3
.1229783633 Date: 2019.12.1810:31:24
-05'00'
Jean B. Gibby
Chief, Raleigh Field Office
Electronic Copies Furnished:
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