20160239 Ver 1_UMBI Modification Document (2)_20170518

Neu -Con Stream and Wetland Umbrella Mitigation Bank
Selma Mill II Site
INSTRUMENT MODIFICATION
Neuse River Basin
HUC 03020201
fires
April 2017
Prepared by: Resource Environmental Solutions, LLC
Bank Sponsor: EBX-Neuse I, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
919-209-1056

Table of Contents
IINTRODUCTION.....................................................................................................................3
1.1 Project Description........................................................................................................................3
1.2 Project Location............................................................................................................................3
1.3 Service Area..................................................................................................................................
3
1.4 Identified Watershed Needs..........................................................................................................
4
1.5 Purpose and Objectives.................................................................................................................4
1.6 Technical Feasibility.....................................................................................................................4
1.7 Site Ownership..............................................................................................................................4
2 QUALIFICATIONS..................................................................................................................6
2.1 Bank Sponsor................................................................................................................................6
2.2 Bank Sponsor Qualifications........................................................................................................
6
2.3 Consultant.....................................................................................................................................
7
2.4 Consultant Qualifications..............................................................................................................
7
3 EXISTING CONDITIONS........................................................................................................7
3.1 Existing Reach Conditions............................................................................................................
7
3.2 Existing Jurisdictional Waters of the U.S..................................................................................... 8
3.3 Soil Survey....................................................................................................................................8
3.3.1 General Soil Characteristics.................................................................................................
8
3.3.2 Site Mapped Soil Series......................................................................................................... 8
3.4 Endangered/Threatened Species...................................................................................................
8
3.5 Vegetation and Wildlife................................................................................................................9
3.6 Cultural Resources........................................................................................................................ 9
3.7 Constraints....................................................................................................................................
9
4 PROPOSED BANK CONDITIONS........................................................................................10
4.1 Conceptual Mitigation Plan........................................................................................................10
4.1.1 Project Development...........................................................................................................10
4.1.2 Monitoring..........................................................................................................................11
5 BANK ESTABLISHMENT AND OPERATION.....................................................................12
5.1 Establishment and Operation of the Bank...................................................................................12
5.2 Proposed Credit Release Schedule..............................................................................................12
5.2.1 Initial Allocation of Released Credits.................................................................................13
5.2.2 Subsequent Credit Releases................................................................................................14
5.3 Financial Assurances..................................................................................................................14
5.4 Proposed Ownership and Long -Term Management...................................................................14
5.5 Assurance of Water Rights.........................................................................................................14
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List of Figures
Figure 1. Project Vicinity Map
Figure 2. USGS Topographic Map
Figure 3. Historical Aerial Photography
Figure 4. Soils Map
Figure 5. NWI Wetlands Map
Figure 6. Constraints Map
Figure 7. Conceptual Design Plan
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1 INTRODUCTION
1.1 Project Description
The Selma Mill II Mitigation Site (the "Site") is located just north of the town of Selma and contains one
parcel totaling 68 -acres in Johnston County, NC. The Site will involve the enhancement of Mill Creek. The
Site was identified by EBX-Neuse 1, LLC as having potential to help meet the compensatory mitigation
requirements for stream and wetland impacts in hydrologic unit 03020201 of the Neuse River Basin.
The conceptual design presents 2,610 linear feet of stream mitigation generating 522 Stream Mitigation
Units (SMU). In addition to stream enhancement through buffer improvements there will be two
Stormwater control features placed to attenuate and treat the point source runoff coming from two drainage
networks flowing out of the adjacent neighborhood.
The 29 acre conservation easement will also provide approximately 25 acres of wetland enhancement and
preservation generating five Wetland Mitigation Units (WMUs).
The Selma Mill II Site is contiguous with and immediately downstream of the previously approved Neu -
Con Selma Mill Site. The two sites together provide an opportunity to provide an expanded easement area
and aquatic function in the Mill Creek watershed draining a large part of Selma, NC.
1.2 Project Location
The Selma Mill Mitigation Bank is located in Johnston County immediately north of Selma, NC (Figure 1
and 2). The latitude and longitude for the site is 35.547353 ON and -78.282503 °W. The project area is
comprised of a single easement area that is bordered on the west by S. Wynbrooke Road and on the south
by Thompson Drive and River Road, just west of NC HWY 96.
1.3 Service Area
The Site is located within the Neuse River Basin (8 -digit USGS HUC 03020201, 14 -digit USGS
03020201150040). This proposed Site will result in significant ecological improvements including water
quality improvement, habitat improvements, a decrease in non -point source pollution from stormwater and
agricultural practices, and perpetual preservation of the stream -wetland complex. The Site is located in the
Mill Creek Watershed, a Targeted Local Watershed (TLW). The Site supports many of the Neuse River
Basin Restoration Priorities Plan (RBRP) and Neuse Regional Watershed Plan (RWP) goals.
The Site's watershed is primarily rural and the project parcels have been in agricultural use for several
decades (Figure 3). Water quality stressors currently affecting the Site include livestock access and row
crop production. There are no current conservation easements or options that conflict with the proposed
mitigation bank.
All waters in the Neuse River basin are Impaired on an evaluated basis in the Fish Consumption category
for mercury contamination. This is based on fish consumption advice from the NC Department of Health
and Human Services (NC DHHS). Downstream in the Neuse River, low dissolved oxygen levels are
present.
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1.4 Identified Watershed Needs
The North Carolina Division of Mitigation Services (DMS) develops River Basin Restoration Priorities
(RBRP) to guide its restoration activities within each of the state's 54 cataloging units. The 2010 Neuse
River Basin RBRP identified several restoration needs for the entire Neuse River Basin, as well as for HUC
03020201, specifically. Goals include promoting nutrient and sediment reduction in agricultural areas by
restoring and preserving streams, wetlands, and riparian buffers.
The proposed Site is designed to help meet these goals. The project will address stressors identified in the
watershed through nutrient removal, sediment removal, runoff filtration, and improved aquatic and
terrestrial habitat. These project goals will be achieved through stream enhancement and restoration.
1.5 Purpose and Objectives
The purpose of the proposed Site is to generate compensatory mitigation credits for inclusion in the Neu -
Con Umbrella Mitigation Bank in hydrologic unit 03020201 of the Neuse River Basin.
The project goals address stressors identified in the watershed, and include the following:
• Nutrient removal,
• Sediment reduction,
• Invasive species treatment,
• Filtration of runoff,
• Wildlife corridor enhancement and preservation, and
• Improved aquatic and terrestrial habitat.
The project goals will be addressed through the following project objectives:
• Treatment and control of exotic invasive species,
• Restoration of riparian forested stream buffers
• Implementation of BMPs to attenuate water from the surrounding urbanization
The proposed Site will provide numerous ecological and water quality benefits within the Neuse River
Basin. These benefits are not limited to the project area, but have more far-reaching effects throughout the
Neuse River. The Site will provide improvements to water quality, hydrologic function, and habitat.
1.6 Technical Feasibility
The technical feasibility of the bank is assured due to EBX-Neuse I, LLC's extensive experience with
stream and wetland restoration and enhancement in North Carolina and throughout the Southeast. Examples
of EBX-Neuse I, LLC's success with stream restoration and enhancement include Neu -Con Umbrella
Mitigation Bank sites: the Gregory, Nahunta, and Cox II Sites. The absence of fatal flaws such as hydrologic
trespass, and the absence of threatened and endangered species and their habitats mean the project is
unlikely to be impeded by resource issues, or by objections from landowners.
1.7 Site Ownership
The land required for the construction, management, and stewardship of this mitigation project includes a
portion of the parcel listed in Table 1. EBX-Neuse I, LLC has obtained an easement agreement options on
the required parcels.
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Table 1. Site Ownership
Selma Mill II Mitigation Site
Neu -Con Umbrella Bank
INSTRUMENT MODIFICATION
April 2017
Deed Book
Landowner
Pin
County
and Page
Parcel
Protected
Acreage
Acreage
Number
261509-15-
Olivia B. Holding
Johnston
04617/0219
68
29
4834
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INSTRUMENT MODIFICATION
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2 QUALIFICATIONS
2.1 Bank Sponsor
The Site shall be established under the terms and conditions of the Neu -Con Umbrella Mitigation Bank
made and entered into by EBX Neuse I, LLC, acting as the Bank Sponsor.
Company Name:
EBX-Neuse I, LLC
Company Address:
302 Jefferson Street, Suite 110, Raleigh, NC 27605
Contact Name:
Daniel Ingram
Telephone:
[phone]
Email:
[e-mail]
2.2 Bank Sponsor Qualifications
Resource Environmental Solutions, LLC (RES) was founded in February 2007 and grew organically from
its roots restoring Louisiana wetlands to deliver mitigation solutions across Louisiana, Texas, Pennsylvania,
West Virginia, Maryland, Virginia, North Carolina and South Carolina. In December 2014, RES acquired
industry pioneer Environmental Banc & Exchange, LLC (EBX) and EBX-Neuse I, LLC (a partnership),
expanding the RES knowledge base and geographic and technical delivery capabilities.
RES develops and supplies ecological offsets to help public and private sector clients obtain required
permits for unavoidable, project -related impacts to wetlands, streams, and habitats. RES helps clients
proactively manage risk from operations in environmentally sensitive areas by providing proactive impact
analyses, streamlining permitting processes, and limiting liability and regulatory exposure.
• RES is the premier provider of ecological offset solutions in the US
• RES founded in 2007 / EBX founded in 1997
• 110 mitigation sites permitted/in process
• Conservation easements protecting roughly 400 sites
• 32,000 restored wetland acres
• 4,000 acres of custom mitigation solutions
• 155 miles of stream restoration
• Reduced over 240 tons of nutrients
• Rehabilitated and preserved over 3,700 acres of endangered species habitats
In North Carolina, RES and its affiliated companies have won over $70 million in mitigation contracts with
North Carolina state agencies. With a regional office in Raleigh staffed with full-time professionals, RES
has the ability to carry out existing projects, as well as secure and carry out new projects and banks in the
State. A few representative projects implemented by RES are presented below.
Neu -Con Umbrella Mitigation Bank (North Carolina): One of the first approved wetland and stream
banks in North Carolina. The service area of the Bank is the entire Neuse River Basin. The Bank was
established in April 2001. Initial contract: 22,964 linear feet of stream mitigation units (SMU) sold to
North Carolina DOT based on credits produced from 3 stream restoration sites (initiated November
2000; sold all credits in November 2000; design initiated December 2001; construction completed on
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all sites Spring 2005; monitoring completed on all sites in Fall 2009). Additional sites added starting in
2008.
Chesapeake Wetland Mitigation Bank (City of Chesapeake, Virginia): 545 -acre wetland mitigation
bank in the Lower James Watershed in Virginia. The service territory of the Bank includes HUCs
02080206 and 02080208. The Bank was established in July 2009. The remainder of the 1,156 -acre
property will be sold to the Great Dismal Wildlife Refuge (MBI finalized Spring 2009; construction
completed Spring 2011; in the monitoring phase).
Conoconnara Swamp Site (Halifax County, North Carolina): 87.0 WMU of wetland restoration and
5,050 SMU of stream restoration (initiated July 2005; construction completed Spring 2007; monitoring
completed Fall 2011).
2.3 Consultant
The Designer for the Sites will be W.K. Dickson & Co., Inc (WK Dickson).
Company Name: W.K. Dickson & Co., Inc.
Company Address: 720 Corporate Center Drive, Raleigh, NC 27607
Contact Name: Scott Sigmon
Telephone: [phone]
Email: [e-mail]
2.4 Consultant Qualifications
For more than eighty years, WK Dickson has been providing engineering and consulting services
throughout the southeastern United States. WK Dickson is an innovative, diversified organization of 108
professionals serving the total planning and design needs of their clients. WK Dickson has built a reputation
of superior client satisfaction, technical competence, innovation, and integrity.
WK Dickson has over ten years of experience with regional stream and wetland mitigation programs. They
have participated in a variety of projects related to stream and wetland assessments and mitigation. WK
Dickson also has project experience with NC buffer rules, buffer mitigation, and nutrient uptake mitigation.
In total, WK Dickson has completed over 16 stream and wetland mitigation projects in North Carolina, and
is currently implementing and designing mitigation projects in North Carolina, South Carolina, and
Virginia.
3 EXISTING CONDITIONS
3.1 Existing Reach Conditions
Reach 1 begins at the northeastern end of the project at the terminus of the Selma Mill stream restoration
and flows to the southwest toward River Road. The channel has been straightened and dredged historically
but has been allowed to naturalize over the last several decades. The right bank has a partially forested
disturbed wetland buffer bound by a neighborhood development. The left bank has forested wetland buffer
that extends into residential yards. Common canopy species including loblolly pine (Pinus taeda),
sweetgum (Liquidambar styraciflua), and water oak (Quercus nigra). Understory species include
muscadine (Vitis rotundifolia) and giant cane (Arundinaria gigantea). Chinese Privet (Ligustrum sinense)
is present throughout and dense in some areas. The banks of the stream are generally stable as the floodplain
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is very accessible and evidence of frequent flooding is evident through standing water throughout the
wetland dominated floodplain. Small beaver dams are present intermittently within the channel.Reach 2
flows into the project area from the north and confluences with Reach 1 approximately 300 feet south.
Generally, Reach 2 has amore intact forested canopy but is similar to Reach 1 in other regards.
3.2 Existing Jurisdictional Waters of the U.S.
Detailed wetland delineation has been performed and the PJD was accepted by the Army Corps of
Engineers. The stream channel was classified using North Carolina Division of Water Quality methodology.
3.3 Soil Survey
3.3.1 General Soil Characteristics
The Selma Mill II Mitigation Site is located in the Coastal Plain Physiographic Province. The soils within
the Coastal Plain region of Johnston County formed in sediments deposited several million years ago by
the oceans and streams. The flood plains along the Neuse River consist of relatively recent deposits of
sediments that are not as highly weathered as sediments in the Coastal Plain Region. Much of the county is
well drained; however, several areas are poorly drained. The Site is shown to straddle two soil associations:
the Rains -Goldsboro -Lynchburg and the Norfolk -Goldsboro -Rains. (Figure 4).
3.3.2 Site Mapped Soil Series
Site soils are mapped by the NRCS as Cowarts Loamy Sand, Goldsboro Sandy Loam, Norfolk Sandy Loam,
Wagram Loamy Sand, and the majority with around 90% is the Wehadkee loam. The Wehadkee Loam is
nearly level, poorly drained soil occurs on stream and tributary floodplains. Most mapped areas are long
and narrow, and slopes are generally 0-2%. Permeability is moderate and the seasonally high water table is
generally within 12 inches of the surface. Surface runoff is slow.
3.4 Endangered/Threatened Species
Plants and animals with a federal classification of endangered or threatened are protected under provisions
of Sections 7 and 9 of the Endangered Species Act of 1973, as amended. The US Fish and Wildlife Service
(USFWS) database (accessed 26 September 2016) lists four endangered species for Johnston County, North
Carolina: Red -cockaded woodpecker (Picoides borealis), Tar River spinymussel (Elliptio steinstansana),
Dwarf wedgemussel (Alasmidonta heterodon) and Michaux's sumac (Rhus michauxii). No protected
species or potential habitat for protected species was observed during preliminary site evaluations (Table
2). The Bald eagle (Haliaeetus leucocephalus) is protected under the Bald and Golden Eagle Protection Act
(BGPA) and prohibits take of bald and golden eagles. No protected species or potential habitat for protected
species was observed during preliminary site evaluations.
In addition to the USFWS database, the NC Natural Heritage Program (NHP) GIS database was consulted
to determine whether previously cataloged occurrences of protected species were mapped within one mile
of the project site. Results from NHP indicate that there are no known occurrences within a one -mile
radius of the project area. Based on initial site investigations, no impacts to federally protected species are
anticipated as a result of the proposed project.
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Table 2. Federally Protected Species in Johnston County
Common Name
Scientific name
Federal
Status
Habitat
Present
Record
Status
Vertebrate:
Bald eagle
Haliaeetus leucocephalus
BGPA No
Current
Red -cockaded woodpecker
Picoides borealis
E No
Invertebrate:
Tar River spinymussel
Elli do steinstansana
E
No
Current
Dwarf wedgemussel
Alasmidonta heterodon
E
No
Current
Vascular Plant:
Michaux's Sumac Rhus Michauxii E No Current
E = Endangered; BGPA = Bald and Golden Eagle Protection Act
3.5 Vegetation and Wildlife
Current land use in the Site watershed is primarily residential, forest, pasture, and row crop. There are low-
density residential lots, maintained vegetation, and two-lane roads also present in the immediate project
vicinity.
Forested riparian areas are disturbed bottomland hardwoods with areas of dense Chinese privet (Ligustrum
sinense).
National Wetland Inventory (NWI) mapping depicts wetlands in the project area (Figure 5). During the
initial evaluation, riparian wetlands were identified along the stream corridor. All potential wetland areas
in the project corridor have been delineated during the field data collection phase of the project.
3.6 Cultural Resources
Cultural resources include historic and archeological resources located in or near the project area. RES
completed a preliminary survey of cultural resources to determine potential project impacts. No
architectural structures or archeological artifacts have been observed or noted during preliminary surveys
of the site for restoration purposes. A review of the North Carolina State Historic Preservation Office GIS
Web Service database revealed that there are National Registered listings within a one -mile radius of the
proposed project area. The proposed project is located just outside the West Selma Historic District
(JT 1514) which contains several national listed and study listed sites. Due to the existing wetland
conditions the proposed project will not have any adverse effects to historical structures or viewsheds.
3.7 Constraints
Minimal constraints are present or proposed on the Site. Mill Creek within the project area is mapped as a
FEMA 100 -year floodplain but not in the Floodway. (Figure 6). Therefore a FEMA flood study to either
obtain a No -Rise Certification or CLOMR/LOMR from the Johnston County floodplain administrator
should not be needed. Construction access is slightly constrained in some areas by existing mature
hardwood vegetation. Tree clearing will be minimized during the construction phase.
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4 PROPOSED BANK CONDITIONS
4.1 Conceptual Mitigation Plan
The Site presents the opportunity to provide up to 522 stream mitigation units and. These will be derived
from Enhancement Level II, and Buffer Enhancement/Stream Preservation. Table 3 details the mitigation
types and SMUs generated. The proposed conceptual design plan is shown in Figure 7.
This Site proposes to utilize the non-standard buffer width credit adjustment guidance for Piedmont and
Coastal Plain streams. This guidance allows for stream credit yields to be adjusted +7 percent for buffers
75 to 100 feet wide and +20 percent for buffers over 150 feet wide. The buffer adjustment for each bank is
averaged to determine the final adjustment for that reach. The increased stream credit yield precludes the
use of the additional buffer area for riparian buffer mitigation.
Table 3. Proposed Mitigation Summary
Reach
Mitigation Type
Length (LF)
Ratio
SMUs
Reach 1
Enhancement II
2,326
5:1
465
Reach 2
Enhancement II
284
5:1
57
Total
2,610
522
Wetland
Mitigation type
Acres
Ratio
WMUs
Wetland 1
Enhancement/Preservation
25
5:1
5
4.1.1 Project Development
Proposed mitigation for the Site involves vegetation enhancement, stormwater treatment and control, and
perpetual preservation. The stream/wetland system is a section of Mill Creek. Current ecological functions
within the proposed mitigation area are degraded as a result of historic drainage improvement projects,
stormwater discharges from adjacent development, vegetation impacts from beaver impoundments, and
invasive species and increased runoff from surrounding development.
The proposed mitigation approach is based on functional considerations, preliminary IRT coordination, and
generally accepted practices in North Carolina. Mitigation treatments include Stormwater attenuation and
treatment, invasive species treatment, supplemental riparian plantings, and the preservation of high quality
aquatic habitats. Invasive species treatment will occur throughout the easement area as needed.
There will be two stormwater treatment features constructed to focus on diffusing the point source inflow
onto the easement from the surrounding neighborhoods. The stormwater features will be designed to
improve the attenuation of flow, as well as improve the overall quality of water with no maintenance
needed. The stormwater features will increase the roughness and storage of the drainage feature to
decrease the overall velocity of the water. Due to the drop of water velocity the total suspended solids will
decrease through deposition, as well as the increased residency time will allow riparian vegetation to
uptake nutrients in the stormwater runoff.
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4.1.2 Monitoring
Stream stability, vegetation survival, and invasive species populations will be monitored across the site to
determine the success of the stream and wetland mitigation.
4.1.2.1 As -Built Survey
An as -built survey will be performed following construction to document the stormwater attenuation
features and vegetation monitoring.
4.1.2.2 Visual Monitoring
Visual monitoring of all mitigation areas will be conducted a minimum of twice per monitoring year by
qualified individuals. The visual assessments will include vegetation density, vigor, invasive species, and
easement encroachments. Visual assessments of stream stability will include a complete streamwalk.
Digital images will be taken at fixed representative locations to record each monitoring event, as well as
any noted problem areas or areas of concern. Results of visual monitoring will be presented in a plan view
exhibit with a brief description of problem areas and digital images.
4.1.2.3 Vegetative Success Criteria
Vegetation monitoring plots will be a minimum of 0.02 acres in size, and cover approximately two percent
of the planted area. The following data will be recorded for all trees in the plots: species, height, planting
date (or volunteer), and grid location. Monitoring will occur each year during the monitoring period. The
interim measures of vegetative success for the site will be the survival of at least 320 planted three-year old
trees per acre at the end of Year 3 and 260 five-year old trees per acre at the end of Year 5. The final
vegetative success criteria will be the survival of 210 trees per acre with an average height of 10 feet at the
end of Year 7 of the monitoring period. Invasive and noxious species will be monitored and controlled so
that none become dominant or alter the desired community structure of the site. If necessary, EBX-Neuse
I will develop a species-specific control plan.
4.1.2.4 Adaptive Management
The Mitigation Plan will include a detailed adaptive management plan that will address how potential
problems are resolved. In the event that the site, or a specific component of the site, fails to achieve the
defined success criteria, EBX-Neuse I will develop necessary adaptive management plans and/or implement
appropriate remedial actions for the site in coordination with the IRT. Remedial actions will be designed to
achieve the success criteria specified previously, and will include identification of the causes of failure,
remedial design approach, work schedule, and monitoring criteria that will take into account physical and
climatic conditions. If tree mortality affects 40 percent or greater of the canopy in a stream or wetland
restoration area, then a remedial/supplemental planting plan will be developed and implemented for the
affected area(s).
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5 BANK ESTABLISHMENT AND OPERATION
5.1 Establishment and Operation of the Bank
This Bank Site shall be established under the terms and conditions of the Neu -Con Umbrella Mitigation
Bank made and entered into by and among EBX-Neuse I, LLC, and the U.S. Army Corps of Engineers and
the U.S. Environmental Protection Agency, the U.S. Fish and Wildlife Service, the National Marine
Fisheries Services, the North Carolina Department of the Environment and Natural Resources, the North
Carolina Division of Water Resources, and the North Carolina Wildlife Resources Commission,
collectively, the Interagency Review Team.
5.2 Proposed Credit Release Schedule
All credit releases will be based on the total credit generated as reported by the Approved Mitigation Plan
and existing conditions survey. The pre -construction credit release (15 percent) will be based on the credit
total in the Approved Mitigation Plan. The second credit release will be based on the As -Built survey.
Under no circumstances shall any mitigation project be debited until the necessary DA authorization has
been received for its construction or the District Engineer (DE) has otherwise provided written approval for
the project in the case where no DA authorization is required for construction of the mitigation project. The
DE, in consultation with the Interagency Review Team, will determine if performance standards have been
satisfied sufficiently to meet the requirements of the release schedule below. In cases where some
performance standards have not been met, credits may still be released depending on the specifics of the
case. At the direction of the DE, in consultation with the IRT, monitoring may be required to be extended,
depending on the extent to which the site fails to meet the specified performance standard. The release of
project credits will be subject to the criteria described in Table 4.
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Table 4. Credit Release Schedule
Release
Credit Release Activity
Interim
Total Released
Milestone
Release
Site Establishment (includes all required criteria
15%
15%
1
stated above)
Baseline Monitoring Report and As -built Survey
15%
30%
2
First year monitoring report demonstrates
°
10 /0
°
40/o
3
performance standards are being met.
Second year monitoring report demonstrates
°
10 /o
50%
4
performance standards are being met.
° *
(60 /o )
Third year monitoring report demonstrates
°
10%
60%
5
performance standards are being met.
° **
(70 /o )
6
Fourth year monitoring report demonstrates
°
5 /°
65%
performance standards are being met.
(80%**)
Fifth year monitoring report demonstrates
°
10 /o
75%
7
performance standards are being met.
° *
(85 /o )
8
Sixth year monitoring report demonstrates
°
5 /°
80%
performance standards are being met.
(90%**)
Seventh year monitoring report demonstrates
90%
9
performance standards are being met, and project
10%
has received close-out approval.
(100%**)
* * 10% reserve of credits to be held back until the bankfull event performance standard has been met.
5.2.1 Initial Allocation of Released Credits
The initial allocation of released credits, as specified in the mitigation plan can be released by the IRT
with written approval of the DE upon satisfactory completion of the following activities:
1. Approval of instrument modification by the DE, in consultation with the IRT;
2. Approval of a Final Mitigation Plan;
3. Confirmation that the Bank site has been secured;
4. Delivery of executed financial assurances as specified in the Mitigation Plan;
5. Delivery of a copy of the recorded long-term protection mechanism as described in the
Mitigation Plan, as well as a title opinion covering the property acceptable to the DE; and
6. Issuance of any DA permits necessary for construction of the Bank site (if necessary).
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5.2.2 Subsequent Credit Releases
The second credit release will occur after the completion of implementation of the Mitigation Plan and
submittal of the Baseline Monitoring Report and As -built Survey. All subsequent credit releases must be
approved by the DE, in consultation with the IRT, based on a determination that required performance
standards have been achieved. As projects approach milestones associated with credit release, the Sponsor
will submit a request for credit release to the DE along with documentation substantiating achievement of
criteria required for release to occur. This documentation will be included with the annual monitoring
report.
5.3 Financial Assurances
The Sponsor shall provide financial assurances in the form of a Performance Bond to the IRT sufficient to
assure completion of all mitigation work, required reporting and monitoring, and any remedial work
required. Financial assurances shall be payable at the direction of the USACE to his designee or to a standby
trust. Financial assurances structured to provide funds to the USACE in the event of default by the Bank
Sponsor are not acceptable. A financial assurance must be in the form that ensures that the USACE receives
notification at least 120 days in advance of any termination or revocation.
5.4 Proposed Ownership and Long -Term Management
EBX-Neuse I, LLC, acting as the Bank Sponsor, will establish a Conservation Easement, and will monitor
the Site for a minimum of seven years. The Mitigation Plan will provide detailed information regarding
bank operation, including long term management and annual monitoring activities, for review and approval
by the IRT. Upon approval of the Sites by the IRT, the site will be transferred to a long-term land steward
(to be determined in the Mitigation Plan). The long-term steward shall be responsible for periodic inspection
of the site to ensure that restrictions required in the Conservation Easement or the deed restriction
document(s) are upheld. Endowment funds required to uphold easement and deed restrictions shall be
negotiated prior to site transfer to the responsible party.
The Bank Sponsor will ensure that the Conservation Easement will allow for the implementation of an
initial monitoring phase, which will be developed during the design phase and conducted by the Bank
Sponsor. The Conservation Easement will allow for yearly monitoring and, if necessary, maintenance of
the Site during the initial monitoring phase. These activities will be conducted in accordance with the terms
and conditions of the Neu -Con Wetland and Stream Umbrella Mitigation Bank made and entered into by
EBX-Neuse I, LLC and USACE.
5.5 Assurance of Water Rights
Sufficient water rights exist to support the long-term sustainability of the site, as there are no "severed"
rights on the property.
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SELMA MILL II
List of Figures
Figure 1. Project Vicinity Map
Figure 2. USGS Topographic Map
Figure 3. Historical Aerial Photography
Figure 4. Soils Map
Figure 5. NWI Wetlands Map
Figure 6. Constraints Map
Figure 7. Conceptual Design Plan
Selma Mill II Mitigation Site INSTRUMENT MODIFICATION
Neu -Con Umbrella Bank 15 April 2017

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purposes only. It is not to be used as final boundaries.
Copyright:© 2013 National Geographic Society, i -cubed
Date: 3/1/2017
FIGURE - 2
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Historical Aerial Photography
Proposed Selma Mill II Mitigation Site
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