221123-Hidden Lake MBI-Amended-Draft-rev

AMENDMENT TO THE APPROVED MITIGATION BANKING
INSTRUMENT (MBI) ENTITLED:
Agreement to Establish the Hidden Lake Wetland Mitigation Bank in
Tyrrell County, North Carolina
November 23, 2022
(Changes in bold)
This Amendment is made pursuant to the 33 CFR 332.8 (g) and entered into on the day of
, 2022 by Hidden Lake LLC and E. Carlyle and Cynthia K. Franklin, (Collectively, "
Sponsor", and the U.S. Army Corps of Engineers (Corps), and each of the following agencies:
Environmental Protection Agency (EPA), the U.S. Fish and Wildlife Service (FWS), the
National Marine Fisheries Service (NMFS), the North Carolina Wildlife Resources Commission
(NCWRC), the North Carolina Division of Coastal Management (NCDCM), and the North
Carolina division of Water Resources (NCDWR). The Corps, together with the State and
Federal agencies that executed the MBI and this AMENDMENT, are hereinafter collectively
referred to as the Interagency Review Team (IRT).
WHEREAS the purpose of this agreement is to affect the mutually agreeable AMENDMENT
to the existing MBI governing the established mitigation bank (BANK) providing compensatory
mitigation for unavoidable impacts to waters of the United States, including wetland, authorized
by Section 401 and Section 404 of the Clean Water Act permits and / or Section 10 of the Rivers
and Harbors Act permits in appropriate circumstances pursuant to 33 C.F.R. 332.8 (a)(1).
WHEREAS the Sponsor is the record owner of that certain parcel of land containing
approximately 821 acres located in Tyrrell County, North Carolina, described in the existing
MBI and Mitigation Plan entitled: Plan for the Establishment of the Hidden Lake Wetland
Mitigation Bank.
WHEREAS the agencies comprising the IRT agree that the Bank site remains a suitable
mitigation bank site, and that implementation of the Mitigation Plan is likely to result in net
gains in wetland and / or stream functions at the Bank Site.
THEREFORE, it is mutually agreed among the parties to this agreement that the following
AMENDMENTS are adopted and will become part of the subject MBI upon the signatures of the
IRT agencies listed above. It is understood that all terms and conditions of the original MBI and
subsequent amendments remain in full force and effect except as modified by the
AMENDMENTS described below.

AMENDMENTS TO THE MBI (Changes in bold):
A. Item 25 is as follows:
Successful implementation of the Mitigation Plan has resulted in the creation of the following
numbers and types of mitigation credits: (Changes in bold)
3.5 credits of AWC wetlands (3.5 acres of restoration @ 1:1 ratio).
64.0 credits of nonriverine wet flat hardwood wetlands (38.6 acres of restoration @ 1:1 ratio and
254.5 acres of preservation @ 10:1 ratio = 25.4 credits).
56.3 credits of nonriverine swamp hardwood wetlands (6.3 acres of restoration @ 1:1 ratio and
500.4 acres of preservation @ 10:1 ratio = 50.0 credits).
Total Credits from Restoration — 48.4 credits
Total Credits from Preservation — 75.4 credits
TOTAL MITIGATION CREDITS AVAILABLE — (Subject to Item B) - 123.8
B. Item 27 is as follows (Changes in bold):
It is anticipated by the parties that all mitigation credits from the Bank, to include credits
generated by restoration, enhancement, and preservation activities, may be used to offset
wetland impacts authorized by Section 404 and/or 401 permits/certifications, subject to the
limitation of Item 28. Credits shall be debited from the Bank as specified by the
requirements of the 404 and/or 401 permit authorization/certifications. Wetland
compensation ratios are determined by the DE on a case -by -case basis based on
considerations of functions of the wetlands and/or streams impacted, the severity of the
wetland and/or stream impacts, the relative age of the mitigation site, whether the
compensatory mitigation is in -kind, and the physical proximity of the wetland and/or
stream impacts to the Bank Site.
C. Item 28 reads as follows (Changes in bold):
Notwithstanding the above, all decisions concerning the appropriateness of using credits
from the Bank to offset impacts to waters and wetlands, as well as all decisions concerning
the amount and type of such credits to be used to offset wetland and stream impacts
authorized by Department of the Army permits, shall be made by the DE, pursuant to
Section 404 of the Clean Water Act and implementing regulations and guidance. These
decisions may include notice to and consultation with the members of the IRT through the
permit review process if the DE determines this to be appropriate given the scope and
nature of the impact.
IN WITNESS WHEREOF, the parties hereto have executed this AMENDMENT to the
approved Mitigation Banking Instrument entitled: Agreement to Establish the Hidden Lake
Wetland Mitigation Bank in Tyrrell County, North Carolina, December 1, 1998.

Sponsor
By:
Date:
U.S. Army Corps of Engineers
By:
Date:
U.S. Environmental Protection Agency
By:
Date:
U.S. Fish and Wildlife Service
By:
Date:
National Marine Fisheries Service
By:
Date:
N.C. Division of Water Resources
By:
Date:
N.C. Wildlife Resources Commission
By:
Date:
N.C. Division of Coastal Management
By: Date: