R-2828 Bank letters_Stone Creek_Stone Creek Initial Credit Release 111618

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
November 16, 2018
Regulatory Division/1200A
Action ID No. SAW-2016-01990
Re: Initial Credit Release associated with Neu -Con Umbrella Mitigation Bank, Stone Creek
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, Stone Creek
Mitigation Site, located southwest of the intersection of Joyner Bridge Road and Rhodes Pond
Road, near Four Oaks, in Johnston County, North Carolina; within the Mill Creek watershed in 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 Stone Creek Final Mitigation Plan dated October 2018 and approved November 9,
2018, 15 percent of the mitigation site's total restoration and enhancement stream 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 14, Page 40 of the Stone Creek Mitigation Site Final
Mitigation Plan, dated October 2018; and
d. Recordation of the Corps -approved site protection mechanism described in Section III
(G) of the UMBI, and Appendix A of the Stone Creek Mitigation Site Final Mitigation
Plan, dated October 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 845.3 stream mitigation units (SMU's), constituting 15 percent
(669.3 SMUs) of the mitigation site's total restoration and enhancement stream credits (4,462
SMUs), and 100 percent of the mitigation site's total preservation stream credits (176 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,
BROWNI N G. KI M B E R LY. Digitally signed by BROWNING.KIMBERLV.DANIELLE.1527683510
DN: -US, o=U.S. Government, ou=DoD, ou=PKI, ou=USA,
DANIELLE.1527683510 Date: R2-05'0IELLE.1527683510
Date: 2018.11.16 13:13:02-OS'00'
Kim Browning
Mitigation Specialist
Electronic Copies Furnished:
NCIRT Distribution List
Brad Breslow, RES