20160977 Ver 1_SAW-2016-01998 Initial Credit Release_20200520

Strickland, Bev
From:
Dailey, Samantha J CIV USARMY CESAW (USA) <[e-mail]>
Sent:
Wednesday, May 20, 2020 11:33 AM
To:
Bradley Breslow; Ryan Medric; Jamey McEachran
Cc:
Tugwell, Todd J CIV USARMY CESAW (US); Kim Browning; Haupt, Mac; Davis, Erin B;
Wilson, Travis W.; Bowers, Todd
Subject:
[External] SAW-2016-01998 / EBX Neuse I, LLC / Neu -Con UMBI / Bucher Mitigation
Project / Initial Credit Release
Attachments:
SAW-2016-01988 Bucher Initial Credit Release.pdf
External email. Do not click links or open attachments unless you verify. Send all suspicious email as an attachment to
[e-mail]
Good morning,
Attached is the initial credit release letter for the:
SAW-2016-01998 / EBX Neuse I, LLC / Neu -Con UMBI / Bucher Mitigation Project / Initial Credit Release
Please let me know if you have any questions.
Best Regards and Stay Well,
Samantha Dailey
Regulatory Project Manager
U.S. Army Corps of Engineers
Regulatory Division
3331 Heritage Trade Drive, Suite 105
Wake Forest, NC 27587
[phone], Ext. 22
[e-mail]
1

DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
WILMINGTON, NORTH CAROLINA 28403-1343
REPLY TO
ATTENTION OF:
May 20, 2020
Regulatory Division
Action ID No. SAW-2016-01988
Re: Initial Credit Release associated with Neu -Con Umbrella Mitigation Banking
Instrument (UMBI), Bucher Mitigation Project
Mr. Brad Breslow
EBX-Neuse I, LLC
3600 Glenwood Avenue, Suite 100
Raleigh, North Carolina 27612
Dear Mr. Breslow:
This correspondence is in reference to the Neu -Con UMBI, Bucher Mitigation Project,
located at 3132 Redwood Road, in Durham, Durham County, North Carolina. The
mitigation site is adjacent to and within the Neuse River Basin, Hydrologic Unit Code
(HUC) 03020201. The purpose of this letter is to confirm the initial release of credits for
this site.
Pursuant to the UMBI entitled, Agreement to Establish the Neu -Con Umbrella Wetland
Mitigation and Stream Restoration Bank, approved April 2, 2001 and amended April 10,
2009; and the site -specific Bucher Mitigation Project Final Mitigation Plan, dated
September 2019, 15 percent of the mitigation site's total restoration and enhancement
credits and 100 percent of the mitigation site's total preservation credits shall be available
for sale immediately upon completion of all of the following:
a. Execution of the UMBI by the Sponsor, the Corps, and other agencies eligible
for membership in the IRT who chose to execute the agreement (April 10,
2009));
b. Approval of the final mitigation plan (November 6, 2019);
c. Delivery of the executed financial assurance documents as described in
Section III (F) of the UMBI and Section 15, page 46 of the Bucher Mitigation
Project Final Mitigation Plan, dated September 2019; and

d. Recordation of the Corps -approved site protection mechanism described in
Section III (G) of the UMBI, and A of the Bucher Mitigation Project Final
Mitigation Plan, dated September 2019, 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 2,053.5 stream mitigation units (SMUs) are
now available for sale. This amount includes 15 percent of the total restoration and
enhancement credits and 100 percent of the total preservation credits for the site.
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.DaileyCa)usace.army. miI or telephone (919) 554-
4884, Extension 22.
Sincerely,
Todd Tugwell
Mitigation Project Manager
Regulatory Division
Electronic Copies Furnished:
NCIRT Distribution List