20080229 Ver 2_USACE Correspondence_20080402

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DEPARTMENT OF THE ARMY.
WILMINGTON DISTRICT, CORPS OF ENGINEERS
P.O. BOX 1890
WILMINGTON, NORTH CAROLINA 28402-1890
March 28, 2008
IN REPLY REFER TO
Regulatory Division/1145b
Action ID. 200521199
2'008
Mr. Richard Mogensen
Mid-Atlantic Mitigation, LLC
An Earthmark Company
1960 Derita Road
Concord, North Carolina 28027
Dear Mr. Mogensen:
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This correspondence is in reference to the Forrest Creek Mitigation Bank, which you are
developing. The Forrest Creek site is located approximately seven miles northeast of
Hillsborough and six miles northeast of Durham in northeastern Orange County, North Carolina.
The purpose of this letter is to confirm the initial release of credits from this Bank.
Pursuant to the Mitigation Banking Instrument (MBI) entitled, "Forrest Creek Mitigation
Bank", dated February 2007, fifteen percent (15%) of the Bank's total restoration credits, and
100 percent (100%) of the Bank's total stream preservation credits shall be available for sale
immediately upon completion of all of the following:
a. Execution of the MBI by the Sponsor, the Corps, and other agencies in the MBRT;
b. Approval of the final mitigation plan;
c. Delivery of the financial assurance described in the MBI;
d. Recordation of the preservation mechanism and submittal of the title opinion covering
the property acceptable to the Corps;
By copy of this correspondence, we confirm that you have satisfied the above requirements
and (15%) of the Bank's total restoration credits, and 100 percent (100%) of the Bank's
preservation credits, are now available for sale. According to your credit release letter received
on March 17, 2008, this corresponds to 600 preservation credits and 1,056
restoration/enhancement credits for a total of 1,656 credits.
Thank you for your time and cooperation. If you have any questions, please contact
Mr. Monte Matthews at the Raleigh Regulatory Field Office, telephone [phone],
extension 30.
Sincerely,
/- 67??
Jean B. Manuele
fo??Chief, Raleigh Regulatory
Field Office
Copies Furnished:
Mr. Todd St. John
Kimley-Horn and Associates, Inc.
Post Office Box 33068
Raleigh, North Carolina 27636-3068
Ms. Cyndi Karoly
NCDENR - Division of Water Quality
Wetland/401 Unit
1650 Mail Service Center
Raleigh, North Carolina 27699-1650
Mr. Peter Benjamin
United States Fish and Wildlife Service
Post Office Box 33726
Raleigh, North Carolina 27636-3726
Ms. Shari Bryant
Post Office Box 129
Sedalia, North Carolina 27342
Ms. Rebecca Fox
U.S. Environmental Protection Agency
1349 Firefly Road
Whittier, North Carolina 28789
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Mr. John Dorney
NC DENR/Division of Water Quality
Wetland/401 Unit
1650 Mail Service Center
Raleigh, North Carolina 27699-1650
Mr. Eric Kultz
NC DENR/Division of Water Quality
Wetland/401 Unit
1650 Mail Service Center
Raleigh, North Carolina 27699-1650
Ms. Kathryn Matthews
U.S. Environmental Protection Agency
109 T.W. Alexander Drive
Durham, North Carolina 27711
Mail Code E143-04
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