20080511 Ver 1_Financial Assurance Reduction_20140528

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NCDENR
North Carolina Department of Environment and Natural Resources
Pat McCrory John E. Skvarla, III
Governor Secretary
May 28, 2014
Jeffrey Becker DWQ Project # 2008- 0511v1
Greene Environmental Services, LLC Greene County
963 Highway 258
Snow Hill, NC 28580
Re: Financial Assurance Reduction Approval
L -8 tract of the Contentnea/Little Contentnea Creek (CLCP) Bank
Dear Mr. Becker:
On May 28, 2014, the Division of Water Resources (DWR) received a request for approval to reduce the
financial assurance required for the monitoring and maintenance performance obligations of Greene
Environmental Services, LLC for the L -8 tract of the CLCP mitigation bank in Greene 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:
DWR approved the second annual monitoring report for the subject mitigation bank on May 28, 2014 and
submitted an email to you documenting the approval. Therefore, your request to reduce the financial
assurance (Letter of Credit # S1393884) from $20,000 to $16,000.00 provided by First Citizens Bank & Trust
Company is hereby approved. This reduction is 20% of the original Letter of Credit amount of $20,000.00.
Please feel free to contact Katie Merritt at (919) 807 -6371 if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supery r
401 and Buffer Permitting Unit
KAH /kym
cc: File copy (Katie Merritt)
401 and Buffer Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: 512 N. Salisbury St. Raleigh, North Carolina 27604
Phone: 919 - 807 -6300 \ FAX: 919 - 807 -6494
Internet: www.ncwaterquality.org
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