20080299 Ver 1_More Info Received_20090126

Forrest Creek Buffer Mitigation Bank
Subject: Forrest Creek Buffer Mitigation Bank
From: "Matt Fisher" <[e-mail]>
Date: Mon, 26 Jan 2009 16:28:08 -0500
To: <[e-mail]>
CC: "Rich Mogensen" <[e-mail]>
Eric.
q-- ?92 p
My name is Matt Fisher, I am the Director of Market Development for EarthMark Mitigation
Services, who are the bank sponsor for the Forrest Creek Buffer Mitigation Bank. I sent you the
annual Ledgers before the Holiday's. Attached is an updated ledger and a recent transfer
agreement. I wanted to reach out to you and be sure you're in agreement with our procedures.
Below is how we explain it to our clients:
Forest Creek Buffer Mitigation Bank in Neuse 01.
There are (4) documents that are involved with the transfer of credits from an approved mitigation bank.
1. Credit Sales Agreement
2. Reservation Letter
3. Credit Transfer Certificate
4. Bank Ledger
Upon determination by applicant representative that credits from FCBMB is applicable, the following course
of action is taken:
Bank Sponsor and the Applicant will enter into a "Credit Sales Agreement" that legally transfers
mitigation liability to the banker upon full and final execution of legal documents and receipt of
financial Payment.
Upon initial execution and receipt of deposit, a "Reservation Letter" from the Bank Sponsor is
provided confirming that the applicant has legally secured mitigation credits and that the Bank
Sponsor will be legally responsible for providing the amount of credits required upon permit/action ID
issuance.
The "Reservation Letter" references the amount of credits reserved, type of credits reserved (if
multiple types exist), applicants permit action ID number, name of project, and the name of
purchaser.
The Applicant provides a copy of the "Reservation Letter" along with permit application to the
regulatory agencies as proof of transfer of liability and that the credits have been secured. The
"Reservation Letter" can be sent from Bank Sponsor to Regulatory Reviewer upon request.
Upon approval of permit, the applicant has 30 days to fully execute "Credit Sales Agreement" by
funding remaining balance of "Credit Sales Contract". This is normally outlined in "Special Conditions"
section of the permit approval document.
Upon full execution, the Bank Sponsor is required to provide the applicant with a "Credit Transfer
Certificate" along with a copy of the bank "Credit Ledger" showing the debit from the bank available
credits referenced by permit application number.
A copy of the "Credit Transfer Certificate" and the "Credit Ledger" will be electronically sent to the
DWQ for proof of final execution.
A courteously copy of each above will also be sent to the ACOE and vice versa to the DWQ on stream
mitigation units transferred.
At that time a electronic verification of confirmation will be sent back to Bank Sponsor from
regulatory agency confirming receipt.
Annually, the Bank Sponsor will provide a full Credit Ledger to Regulatory Agency for formal signature
1 of 2 1/27/2009 7:51 AM
Forrest Creek Buffer Mitigation Bank
and approval of balance.
Eric; is there anyone else we should copy on our electronic transfer agreements. Attached is a transfer
Agreement that we just completed as a working example and an updated credit ledger. The Credit Ledgers
only show full executed transfers on permitted projects.
Matt Fisher
EarthMark Mitigation Services
Director of New Business Development
Cell: 239-872-1678
Fl Office 239-415-6221
NC Office 704-782-4133
WV Office 304-465-4300
Content-Description: concourse interceptor transfer
agr.pdf
concourse interceptor transfer agr.pdf Content-Type: application/octet-stream
Content-Encoding: base64
Content-Description: FC-Official credit ledger.xls
FC-Official credit ledger.xls Content-Type: application/vnd.ms-excel
Content-Encoding: base64
2 of 2 1/27/2009 7:51 AM

t
AGREEMENT FOR TRANSFER
This agreernent and acknowledgment of Transfer of Mitigation and Implementation Plan ..
obligations to Forrest Creek Riparian Buffer Mitigation Bank executed by and between Wfthwa
&Ravend ("Purchaser') and FadkUuk Mid-AduWc Midantlam I c (DBA Forest
Creek Mitigation Bank) a Florida limited liability company ('Banker") for Permit m Number
1-USACOE Action ID NO 200801987 shall read as follows:
WITNESSETH
!In consideration of the covenants and considerations recited herein, the parties agree as follows:
a
1. By execution of this Agreement, Parties agrees to the assumption of 575 Required Riparian
jBuffer Restoration Credits in Neuse River Basin, Cataloging Unit 03020201. As a Permit
?S! d?41b I 'Q Permit # is 05-0299 for the Town of Morrisville Conco n. r..
t.?...rs?.
?morovements nroieet. The protect will impact protected riparian buffets inde nacd in 13A,
CAC 2B .0233 (Noun), 15A NCAC 2B.0259 (Tar-Pamlico, 15A NCAC 02B.0243 (Catawba)
15A A NCAC 2B .0250 Neuse Buffer Rules. All parties acknowledges and agrees that upon the
jexe:cution of the Agreement by Banker, Purchaser, and delivery to DWQ of a copy of this
executed Agreement, that all obligations with respect to this Riparian Buffer Mitigation
bligation, shall be the sole obligation of Banker as authorized Pursuant to the "Forrest Creek
Riparian Buffer Mitigation Bank", "Mitigation Banking Agreement", dated April 2008. Banker
ishall assume = Buffer Credits for this transferred obligation and be deducted from Bank
Credit Ledger.
i
1. Banker acknowledges that purchaser has made full payment to the Forrest Creek Riparian
Suffer Mitigation Bank, and the mitigation obligations to transferred and agrees to perform the
?Wtigation as described below.
. The mitigation transfcavd, is described in Forrest Creek Riparian Buffer Mitigation Bank
gm==t, DWQ #0&0229, identified under USE OF MITIGATION CREDITS and the
=ue nt permit issued ApriL 200 and consists of the requirement to provide mitigation for
to jurisdictional waters. This mitigation transfer comprises the purchase of 1575 credits
Of buffer mitigation from Banker, As condition of DWQ Permit Action, Banker agrees to assume
dell liability and responsibility concerning the above mitigation.
Pursuant of Mitigation Banking Agreement, Forrest Creek Riparian Buffer Mitigation Bank"
red April, 2008 DWQ agrees that upon receipt of an executed copy of this Agreement
fencing obligations to Banker that DWQ shall look solely to Banker for performance under
;=h for purposes of compliance with these stream mitigation requirements, and shall hold
er, its successors and assigns, harmless with respect to compliance with the transferred
beam mitigation requirements as stated in the Permit and in the event of default pursuant to
ten stream mitigation requirements of the Permit, DWQ shall have no recourse against
urchaser.
Upon execution of this Agreement by Banker., Banker shall forward an original of same to
WQ acknowledging and agreeing to the transfer of the cited mitigation obligations from
irchaser to Banker and Banker does, by execution of this Agreement, agree to comply with and
rform Purchaser's obligations for providing mitigation as set forth in DWQ Permit Condition,
offset by their purchase of 11575 credits.
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6. The Banker certifies that mitigation credits are amtudiately available to Transfer and that all
conditions relating to providing the transferred mitigation of Permit Action Condition are
satisfied.
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7. Banker hereby acknowledges the debit 1575 from Mitigation Bank Ledger.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals on the
s dates written below their signatures. Signed, sealed and delivered:
Purchaser:
By
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Print amp: ?1?' D. (A?r?ld
Date:
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BANKER FORREST CREEK RIPARIAN BUFFER MITIGATION BANK
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Print Name: D ovk F hGd ee? e af
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Print Name: Matthew R Fisher
Date:
Print Name ,) ? Wl (?
Cyndi B. Karoly
Program Manager
401 Oversight and Express Review Program
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i. Lauren Witherspoon - Raleigh Regional Office
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