R-2828 Bank letters_Stone Creek_Stone Creek Task 2 Credit Release 082119

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
August 21, 2019
Regulatory Division/1200A
Action ID No. SAW-2016-01990
Re: Second Credit Release (As -Built Implementation) 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 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 Stone Creek Final Mitigation Plan (Plan) dated October 2018 and approved
November 9, 2018; and the Stone Creek Mitigation Site As -Built Baseline Monitoring Report
dated July 2019, 15 percent of the mitigation site's total restoration and enhancement stream
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 October 2018;
b. Successful completion of all planting activities as described in the Plan dated October
2018; and
c. Successful completion of easement fencing suitable for livestock exclusion as outlined
in the Plan dated October 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
Stone Creek Mitigation Site is hereby released. The monitoring and maintenance bond, letter of
credit, or casualty insurance must be received by November 12, 2019. Failure to comply may lead

to a suspension in credit sales. In addition, please relocate the flow gauge in UT2 and install a
flow gauge in UT (at the locations discussed during the July loth IRT site visit).
By copy of this correspondence, we confirm that you have satisfied the above requirements for
the initial credit release; and 669.3 stream mitigation units (SMU's), constituting 15 percent of the
mitigation site's total restoration and enhancement stream credits (4,462 SMUs), are now available
for sale. To date, 30 percent of the total stream restoration and enhancement credits (1,338.6
SMUs) and 100 percent of the total preservation credits (176 SMUs) have been released. Our
records indicate that zero SMUs associated with this mitigation site have been debited as of
August 21, 2019. Therefore, the current total amount of credits available for sale are 1,514.6
SMUs.
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,
by
GIBBY.JEAN.B GIBBYJEAN.B.1229783633
.1229783633 04,00'019.08.2108:46:13
Jean B. Gibby
Chief, Raleigh Field Office
Regulatory Division
Electronic Copies Furnished:
NCIRT Distribution List