20160978 Ver 1_Year 2 Monitoring Credit Release_20201119

\ �I� DEPARTMENT OF THE ARMY
WILMINGTON DISTRICT, CORPS OF ENGINEERS
69 DARLINGTON AVENUE
- WILMINGTON, NORTH CAROLINA 28403-1343
REPLY TO November 19, 2020
ATTENTION OF:
Regulatory Division
Action ID No. SAW-2016-01986
Re: Year 3 Monitoring Credit Release associated with Neu -Con Umbrella Mitigation
Bank, Polecat Mitigation Site
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 Umbrella Mitigation Bank,
Polecat Mitigation Site located in eastern North Carolina. Specifically, the site is located
near the intersection of Mallard Road and Hill Road, Smithfield, Johnston County, North
Carolina, within the Polecat Branch watershed of the Upper Neuse Cataloging Unit
(03020201). The purpose of this letter is to confirm the Year 3 Monitoring credit release
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 Polecat Final Mitigation Plan dated July 2017 and
approved September 15, 2017; and the Polecat Stream Mitigation Site Year 3 Monitoring
Report dated September 2020, 10 percent of the mitigation site's total restoration and
enhancement credits shall be available for sale provided the Year 3 Monitoring Report
demonstrates interim performance standards are being met.
By copy of this correspondence, we confirm that you have satisfied the above
requirements for the Year 3 Monitoring credit release, and 656.7 stream mitigation units
(SMUs) are now available for sale. To date, 3940.2 SMUs (60 percent of the total stream
restoration and enhancement credits) have been released for sale.
Please be aware that the Long -Term Maintenance and Monitoring Performance Bond
will expire on October 5, 2021. Failure to submit financial assurance prior to the
expiration date may lead to a suspension in credit sales.

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