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Home My WebLink About20141105 Ver 1_Draft Prospectus_2014102011► � II Prospectus for Parton Wetland Mitigation Bank August 15, 2014 Prepared by: CLearWaLer 224 South Grove Street, Suite F Hendersonville, North Carolina 28792 Bank Sponsor Parton Lumber Company 251 Parton Rd, Rutherfordton, NC 28139 Table of Contents lntroduction.......................................................................................... ............................... 1 Objectives............................................................................................ ............................... 1 Establishment and Operation of the Bank ........................................... ............................... 1 Need for and Technical Feasibility of the Bank .................................. ............................... 3 ServiceArea ......................................................................................... ............................... 3 Ownership Agreements and Long -term Strategy ................................ ............................... 4 Maintenance and Long -term Sustainability ......................................... ............................... 4 Sponsor's Qualifications to Successfully Complete Bank ................... ............................... 4 Site's Suitability to Achieve the Bank's Objective .............................. ............................... 4 Assurance of Sufficient Water Rights .................................................. ............................... 4 i Introduction The Sponsor, Parton Lumber Company proposes the establishment of a wetland mitigation bank at a site in Rutherford County approximately 5.5 miles north of Forest City, NC. A site vicinity map and USGS topographic map are attached for review (Figures 1 and 2). The site, hereafter known as the Parton Wetland Mitigation Bank (PWMB) lies in the Broad River Basin in the USGS 8 -digit hydrologic unit code (HUC) 03050105 and the North Carolina Division of Water Quality (DWQ) subbasin 03- 08 -02. A river basin map is included for review (Figure 3). Latitude and longitude for the site are 35.416294° N and - 81.887612° W, respectively. The proposed PWMB will encompass approximately 35 acres of riparian riverine wetlands adjacent to the Second Broad River and will provide 7 wetland mitigation credits (5:1 ratio) . The Second Broad River is classified as WS -IV by the N.C. Division of Water Resources. Protection of the wetland through a conservation easement will promote the sustainability and /or improvement of aquatic resources in the Second Broad watershed. The land uses and natural resources surrounding the project area is indicative of a rural setting, consisting mainly of mixed pine/hardwood forests, agriculture, and low density residential areas. Elevation of the site is approximately 840 feet above mean sea level (MSL). Objectives The objective of the PWMB is to permanently protect through conservation easement approximately 35 acres of existing wetlands on the floodplain of Second Broad River. In an undisturbed and protected state, the preservation of this riparian buffer area will maintain the values and functions of the protected site and enhance the adjacent Second Broad River system. These functions include water storage, sediment pollutant removal, wildlife habitat and biological productivity. Under this plan, PWMB will place this property under a Conservation Easement and the easement will be held by either a state or federal agency or 501(c) non -profit conservation group. The conservation easement will be implemented immediately upon final issuance of the MBI. Establishment and Operation of the Bank The PWMB will be established only after completion of a series of processes and tasks that are considered to be standard practices in the mitigation banking industry. The following steps have been or will be taken during the course of this project. 1. Evaluation of the need for a mitigation bank. 2. General site reconnaissance and evaluation of site potential. 3. Contact and continual communication with Parton Lumber Company. 4. Investigations of the project area with emphasis on hydrology, drainage features, sources of instability, plant and animal communities, etc. 5. Preparation and submittal of a Prospectus to US Army Corps of Engineers. 6. Development of a mitigation plan including the conceptual design. 7. Completion of a final mitigation plan and design (including the MBI) for submittal to the Interagency review team (IRT) for approval. 8. Implementation of the mitigation plan following approval of the plan and issuance of Section 4041401 authorizations, if necessary. Note: Tasks 1 -5 have already been completed The PWMB will be managed by the Sponsor throughout Interagency Team Review and recording of Conservation Easement. The Sponsor will be responsible for the bank's success and for the sale of credits in accordance with an approved credit release schedule. Clearwater Environmental Consultants, Inc. will manage the bank credit sales. Wetland Community Preservation Area Vegetation The proposed Parton Wetland Mitigation Bank is a scrub shrub wetland dominated by shrubby, woody plants typically growing under 20 feet in height. Dominant tree species include black willow (Salix nigra), sweetgum (Liquidambar styraciflua), American sycamore (Platanus occidentalis), box elder (Acer negundo), and red maple (Acer rubrum). The shrub layer consists of spicebush (Lindera benzoin), tag alder (Alnus serrulata), elderberry (Sambucus Canadensis), silky dogwood (Corpus amomum), and buttonbush (Cephalanthus occidentalis). Dominant herbaceous plants include arrow arum (Peltandra virginica), broadleaf arrowhead (Saggitaria latifolia), rushes (Juncus spp.), netted chain fern (Woodwardia areolata), shallow sedge (Carex lurida), sedges (Carex spp.), cattail (Typha latifolia), Sphagnum moss (Sphagnum sp.), and spotted Jewelweed (Impatiens capensis). Other species observed include tulip poplar (Liriodendron tulipifera), river birch (Betula nigra), and green ash (Fraxinus pennsylvanica). Hydrology The wetland area proposed for preservation within the mitigation bank has variable hydrology conditions ranging from saturated soils along the periphery to inundation of 6- 12 inches (see photo documentation). 2 Soils The soils within the preservation site are mostly of Wehadkee silt loam (WeA) which is classified as a hydric soil by NRCS and some smaller portions of the site are also classified as classified as (ChA) Chewacla loam which is known to frequently contain hydric soil inclusions. Wildlife A formal wildlife study was not conducted on site. However, great blue heron (Ardea Herodias), little blue heron (Egretta caendea), and red winged black birds (Agelaius phoeniceus) were observed on -site. A search of the N.C. Natural Heritage database did not indicate any known federally listed species on -site. The Carolina Foothills Crayfish (Cambant s johni) which is Iisted by the NC Natural Heritage program as significantly rare (SR) is known to occur within 2.5 miles of the site. NWI Map The proposed preservation wetland site is shown on the National Wetland Inventory Maps and mapped as a Forested /shrub wetland (PF01A). Need for and Technical Feasibility of the Bank The Broad River HUC (03050105) includes developing areas such as the Town of Shelby and as well as the US Highway 74 and 221 transportation corridors in Polk, Rutherford, and Cleveland Counties. Population growth and the associated development and infrastructure projects create the necessity for mitigation banks in this region. Mitigation banks will allow unavoidable impacts to waters to be mitigated for appropriately and allow the economic growth of this region to continue while the environment and water quality remain a priority. There are no wetland mitigation banks operating within the Broad River Basin of North Carolina. Based on the results of the preliminary investigations that have taken place at the proposed PLMB, it was determined that the subject site has substantial potential for development of a viable commercial mitigation bank. The on -site wetland shows a mix of herbaceous, shrub scrub and forested wetland. Most of the site has been logged within the last 10 years; however, most of the wetland functions still appear to be viable. Service Area The PLMB will be established to provide mitigation to compensate for impacts to Waters of the United States within HUC 03050105 (Figure 3). This service area will include the towns of Rutherfordton, Forest City, Spindale, Shelby, Columbus, Lake Lure, Kings Mountain, and the counties of Buncombe, Cleveland, Gaston, Henderson, Lincoln, McDowell, Polk, and Rutherford. 3 Ownership Agreements and Long -term Strategy The project site is currently owned by Parton Lumber Company. A Conservation Easements including the wetland and 30 foot upland buffer will be recorded. Upon completion of the review process for the bank prospectus, the Sponsor will submit a detailed mitigation plan and banking instrument. The instrument will provide detailed information regarding bank operation including the long term management of the site. Once the final mitigation plan is approved and the accompanying instrument executed by members of the IRT, the Parton Lumber Company will record a conservation easement on the bank site. Maintenance and Long -term Sustainability A long teen management plan will be developed or appropriate remedial actions will be implemented in the event that the site or a specific component of the site fails to achieve the success criteria outlined in the final mitigation plan. As this is a preservation project, there is no long term monitoring proposed for future credit release. A complete baseline environmental assessment will be prepared and submitted to the easement holder. The easement holder will be responsible for conducting long term oversight of the project property. Sponsor's Qualifications to Successfully Complete Sank The PWMB is working with C1earWater Environmental Consultants (CEC) to create the mitigation bank, provide baseline environmental assessment and manage credit sales for this bank. CEC has successfully implemented numerous wetland and stream mitigation sites in North Carolina. Site's Suitability to Achieve the Bank's Objective The mitigation bank is well suited as preservation as the boundaries on 3 sides are owned by Parton lumber. The wetland area is bordered to the north, west and south by Parton Lumber Company. The entire eastern site boundary is owned by CSX railroad. The wetland complex is unusually large and provides a significant opportunity for preservation. Assurance of Sufficient Water Rights The Sponsor believes the PLMB's location will ensure that natural hydrological input will be sufficient to sustain the wetland for the foreseeable future. Any proposed changes to the hydrology of the immediate region would require regulatory approval, which will evaluate such proposals in the context of a range of factors, including the presence of regulated resources located downstream. Confidence on the sustainability of hydrological resources relies on normal weather patterns. Credit Release Schedule The Sponsor proposes to use the credit release schedule prescribed by the North Carolina Interagency Review Team in the Monitoring Requirements and Performance Standards for Compensatory Mitigation in North Carolina February 8, 2013. 4 Release of the preservation credits. All seven wetland preservation credits (5:1 ratio) will be released upon agreement on a final Mitigation Banking Instrument and the corps receiving a copy of the recorded conservation casement and plat of the site. Parton Wet|a n d Mitigation Bank ( +/- 35 AC) + ` ®' a � . gro OL41 4 � ^ �®� § � # � R Qhew d 'k c Ou n ty $ R d Airport � § � % S � � .�� . + .. $ - � «c 2/ ~ - kph Ruberof mbn _ - � � . / 108 R u# rd n ii / : Spindale / � x� y & IY4r, VF 'A 01 017■Rd 9 0 % $ , - y £ Rd Legend . _ O E5 ] 2 EE] Wet y,Pam n \ @ 0 J 2: Mies Drawn by: RK,yE2Rcc e# &, -a, {Q |es| CLearWaLer Site Vicinity Rutherford County, Figure North Carolina 224 South U� m� Suite F Hendersonville, +Carolina a92 Parton Wetland Mitigation Bank ( +/- 35 AC) C�-F f; Qr _41OF. } +� 46- -f Project Boundary r - -} �— }fib � -��i/ -,k .•'- 'I x-'44 IF IF - N ;. 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