R-2828 Bank letters_Polecat_Polecat Task 4 Release 121219

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
December 11, 2019
Regulatory Division
Action ID No. SAW-2016-01986
Re: Year 2 Monitoring Credit Release associated with Neu -Con Umbrella Mitigation Bank,
Polecat 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, Polecat
Mitigation Site located in eastern North Carolina. Specifically, the site is located near the
intersection of Mallard Road and Hill Road, Smithfield, Johnston County, North Carolina, within
the Polecat Branch watershed of the Upper Neuse Cataloging Unit (03020201). The purpose of
this letter is to confirm the Year 2 Monitoring credit release 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 Polecat Final Mitigation Plan dated July 2017 and approved September 15, 2017;
and the Polecat Stream Mitigation Site Year 2 Monitoring Report dated October 2019, 10 percent
of the mitigation site's total restoration and enhancement credits shall be available for sale
provided the Year 2 Monitoring Report demonstrates interim performance standards are being
met.
By copy of this correspondence, we confirm that you have satisfied the above requirements for
the Year 2 Monitoring credit release, and 656.7 stream mitigation units (SMUs) are now available
for sale. To date, 3283.5 SMUs (50 percent of the total stream restoration and enhancement
credits) have been released for sale.
Please be aware that the Long Term Maintenance and Monitoring Performance Bond for the
Polecat Stream Mitigation site will expire on October 5, 2020. Failure to submit financial
assurance prior to the expiration date may lead to a suspension in credit sales.

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,
G I B BY.J EA N. B Digitally signed by
IBBYJEAN.B. 229783633
.1229783633 0500'019.12.1112:30:54
Jean B. Gibby
Chief, Raleigh Regulatory Field Office
Electronic Copies Furnished:
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