20080229 Ver 1_Monitoring Bond Amount Reduction_20100326

FWA
NCDENR
North Carolina Department of Environment and Natural Resources
Beverly Eaves Perdue
Governor
Mr. Richard Mogensen
Mid-Atlantic Mitigation, LLC
1960 Derita Road
Concord, NC 28027
Re: Monitoring Bond Amount Reduction
Forrest Creek Buffer Mitigation Bank
Orange County
DWQ #08-0229
Dear. Mr. Mogensen:
Division of Water Quality
Coleen H. Sullins Dee Freeman
Director Secretary
March 26, 2010
The Division of Water Quality (DWQ) 401 Oversight and Express Review Permitting Unit has received a
request from Christine Cook of your company to reduce the amount of the monitoring bond for the Forrest
Creek Riparian Buffer Bank.
The proposed reduction schedule is acceptable, and DWQ concurs with the reduction formula. With respect to
the reduction in the amount set aside for supplemental planting, DWQ understands the logic behind the request
to reduce the amount for supplemental planting if success criteria are being met. However, DWQ has concerns
that should a catastrophic event occur (e.g. flood or severe drought), the resulting supplemental planting may be
substantial and not anticipated based on the success criteria achieved. It is critical that should the bond need to
be accessed, that the bond amount would fund restoration of the site sufficient to cover the credits sold.
Please feel free to contact Amy Chapman at [phone] if you have any questions regard' g this
correspondence.
Sinc ly,
Ian McMillan, Acting Supervisor
401 Oversight and Express Review Unit
cc: File Copy (Amy Chapman)
Lauren Witherspoon - Raleigh Regional Office
1650 Mail Service Center, Raleigh, North Carolina 27699-1650
Location: 2321 Crabtree Blvd., Suite 250, Raleigh, North Carolina 27604-2260 One
Phone: [phone] FAX: [phone] Customer Service: 1-877-623-6748 NorthCarolina
Internet: http:llh2o.enr.state.nc.uslncwetlands NatumilY
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