20081473 Ver 4_Arrington-Financial Assurance Reduction_20141124

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NCDENR
North Carolina Department of Environment and Natural Resources
Pat McCrory
Governor
November 25, 2014
Mr. Thomas Rinker
EBX Neuse I, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Re: Financial Assurance Reduction Approval
Arrington Bridge Bank Parcel (Phase II)
Dear Mr. Rinker:
John E. Skvarla, III
Secretary
DWQ Project # 2008- 1473v4
Wayne County
On November 24, 2014, the Division of Water Resources, 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:
DWR approved the second annual monitoring report for the subject mitigation bank on November 24, 2014,
and submitted a credit release letter documenting the approval. Therefore, your request to reduce the
financial assurance (Performance Bond No. 1000964294) from $80,000 to $60,000 from United States
Surety Company is hereby approved. This reduction is 40% 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, Supervisor
/4°7 401 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
1617 Mail Service Center, Raleigh, North Carolina 27699 -1617
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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