20040766 Ver 1_General Correspondence_20050822

~~~~
~' IN REPLY REFER TO
Regulatory Division
Action ID No. 199606890
DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
Washington Regulatory Field Office
P.O. Box 1000
Washington, North Carolina 27889-1000
August 15, 2005
Mr. Donald Carr
Pillsbury, Winthrop, Shaw & Pittman
2300 N Street NW
Washington, D.C. 20037-1128
Dear Mr. Carr:
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This correspondence confirms my receipt of your letter dated July 18, 2005, and our
subsequent telephone conversations on July 28 and August 8, 2005, regarding the status of
available mitigation credits at the Timberlake Farm property of the Great Dismal Swamp
Restoration Bank. The Timberlake Farm property is located south of U.S. 64, east of Columbia,
in Tyrrell County, North Carolina.
The enclosed ledger entitled, Great Dismal Swamp Restoration Bank, Timberlake Farm
Credit Projections, dated August 8, 2005, accurately depicts the credits available for sale on this
date and the projected credits that maybe expected at the Timberlake Farm property. As
discussed, the total number of credits will ultimately depend on the success of the mitigation
work. Please be reminded of the requirements set forth in the mitigation banking instrument
(MB17 regarding the Agricultural Area advance credits (MBI Paragraph V.G.S., Requirements of
Advance Sales, pg. 17).
Thank you for your time and cooperation. If you have any questions, please contact me at the
Washington Regulatory Field Office, telephone [phone], extension 22.
Sincerely,
C.
Enclosure
David M. Lekson, P.W.S.
Chief, Washington Regulatory Field Office
Copies Famished (with enclosure):

-2-
Mr. Mike Wicker
United States Fish and Wildlife Service
Fish and Wildlife Enhancement
Post Office Box 33726
Raleigh, North Carolina 27636-3726
Mr. Ron Sechler
National Marine Fisheries, NOAA
Habitat Conservation Division
Pivers Island
Beaufort, North Carolina 28516
Ms. Cyndi Karoly
Division of Water Quality
North Carolina Department of Environment
and Natural Resources
16.50 Mail Service Center
Raleigh, North Carolina 27699-1650
Mr. Steve Martin
U.S. Army Corps of Engineers
Regulatory Branch
803 Front Street
Norfolk, Virginia 23510-1096
Mr. Whitney G. Saunders
Moore, Saunders & Brewbaker
705 West Washington Street
Suffolk, Virginia 23434

Great Dismal Swamp Restoration Bank 08Aug2005
Timberlake Farm Credit Projections
DATE DESCRIPTION CREDITS
16-Feb-O1 1. Total Credits for Forested Area:
Forested Area (33% holdback pending commencement of Ag Area)
429.53
Forested Area (holdback until year 5) 174.41
Forested Area (credits released to date) 447.68
Forested Area (credits committed to NCDOT) 250.00
TOTAL FORESTED AREA 1,301.62
8-Aug-OS 2. Total Projected Credits for A~ Area:
Ag Area - 633.43 acres (Does not include EEP-455 acres; does not
include canals or pond); (633.43) x (1.25) = 791.79

791.79
Shrub/Scrub Area - 143.31 acres; (143.31) x (1.25) = 179.14 179.14
TOTAL AG AREA PROJECTED 970.93
3. Total Credits Available on this date:
Forested Area
1,301.62
15% Advance credits from Ag Area available pending compliance
with Paragraph V.G.S. of the MBI (does not include EEP-455 acres);
(975.93) x (0.15) = 145.64

145.64
Minus credit sales to date -258.38
TOTAL CREDITS AVAILABLE ON THIS DATE 1,188.88
4. Total Projected Credits for Timberlake Farm:
Available credits 08-Aug-2005
1,188.88
Remaining Ag Area credits projected; 970.93 - 145.64 = 825.29 825.29
TOTAL PROJECTED CREDITS TIMBERLAKE FARM
(minus sales to date) 2,014.17