20081473 Ver 4_Financial Assurance Reduction_2013_20131015

Pat McCrory
Governor
Mr. Thomas Rinker
EBX Neuse 1, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Water Quality Programs
Thomas A. Reeder
Director
October 15, 2013
Re: Financial Assurance Reduction Approval
Arrington Bridge Bank Parcel (Phase II)
Dear Mr. Rinker:
Resources
John E. Skvarla, III
Secretary
DWQ Project # 2008- 1473v4
Wayne County
On October 8, 2013, the Division of Water Quality, hereby referred to as Division of Water Resources
(DWR), received a request for approval to reduce the financial assurance required for the monitoring and
maintenance performance obligations of EBX Neuse I, LLC for the Arrington Bridge Nutrient Offset &
Riparian Buffer mitigation bank in Wayne County, North Carolina. Other nutrient offset/buffer
mitigation banks have been allowed per their Mitigation Banking Instruments (MBIs) to reduce their
monitoring bonds /financial assurances by 20% following the approval of each annual monitoring report
by DWR. Since you have requested a change that aligns with the implementation of the financial
assurance provisions of more recent MBis, we will allow the following:
DWQ approved the first annual monitoring report for the subject mitigation bank on October 8, 2013 and
submitted a credit release letter documenting the approval. Therefore, your request to reduce the
financial assurance (Performance Bond No. 1000964294) from $100,000 to $80,000 from United States
Surety Company is hereby approved. This reduction is 20% of the original financial assurance amount of
$100,000.00.
Please feel free to contact Katie Merritt at (919) 807 -6371 if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Super t r
401 and Buffer Permitting Unit
KAH /kym
cc: File copy (Katie Merritt)
Cara Conder — EBX Neuse I, LLC (via electronic mail)
401 and Buffer Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: 512 N. Salisbury St. Raleigh, North Carolina 27604
Phone: [phone] FAX: [phone]
Internet: www.nGwaterqualit .org
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