HomeMy WebLinkAbout20211424 Ver 1_Initial Credit Release / Wildlands Cape Fear 02 - Flat Rock SiteCAUTION: External email. Do not click links or open attachments unless verified. Report suspicious emails with the Report Message button located on your Outlook menu bar on the Home
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Angela and Shawn,
Please find attached the Initial Credit Release letter for the Cape Fear 02 Umbrella Mitigation Bank – Flat Rock Mitigation Site (SAW-2021-01309). As requested, 15% credit is being
released for approved restoration activities, plus 15% of the riparian wetland credits, that satisfy the initial release requirements pursuant to the Mitigation Banking Instrument.
The first credit release shall occur upon establishment of the mitigation bank, which includes the following criteria:
1) Execution of the UMBI by the Sponsor and the USACE (this was a modification to an instrument);
2) Approval of the final Mitigation Plan;
3) Confirmation that the Mitigation bank site is secured;
4) Delivery of the executed financial assurances described in the Mitigation Plan;
5) Recordation of the long-term protection mechanism and title opinion acceptable to the USACE;
6) 404 permit verification for construction of the site; and,
7) Documentation of the establishment of the long-term endowment/escrow account.
This electronic copy is an official Department of the Army Notification. Feel free to contact me with any questions.
Regards,
Kim
Kim Isenhour
Mitigation Project Manager
US Army Corps of Engineers I Wilmington District I Regulatory Division
3331 Heritage Trade Dr., Suite 105 I Wake Forest, NC 27587 I 919.946.5107
US Army Corps of Engineers I Wilmington District I Regulatory Division
3331 Heritage Trade Dr., Suite 105 I Wake Forest, NC 27587 I 919.946.5107
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