HomeMy WebLinkAbout20110720 Ver 3_Financial Assurance Reduction_20141124A 4
NCDENR
North Carolina Department of Environment and Natural Resources
Pat McCrory
Governor
November 24, 2014
Mr. Thomas Rinker
Environmental Banc & Exchange, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Re: Financial Assurance Reduction Approval
Ezell Bank Parcel
Dear Mr. Rinker:
John E. Skvarla, III
Secretary
DWQ Project # 2011- 07200
Granville County
On November 24, 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
Environmental Banc & Exchange, LLC for the Ezell mitigation bank in Granville County, North Carolina.
Since your request aligns with the implementation of the financial assurance provisions of your Upper Neuse
Riparian Buffer and Nutrient Umbrella Mitigation Banking Instrument (UMBI), 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. 1000964269) from $80,000 to $60,000.00 from United States
Surety Company is hereby approved. This reduction is 40% of the original Performance Bond 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,
�ivc- �aC.v�fi.,
Karen Higgins, Supervisor
401 and Buffer Permitting Unit
KAH/kym
cc: File copy (Katie Merritt)
Cara Conder — EBX (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
An Equal Opportunity \ Affirmative Action Employer— Made in part by recycled paper