20061291 Ver 1_Meeting Note_20090414 (31)

14Apr IRT/PACG-TC Meeting - Great Dismal Swamp Bank (GDS)
Z CEO b i . °_
Subject: 14Apr IRT/PACG-TC Meeting - Great Dismal Swamp Bank (GDS)
From: "Lekson, David M SAW" <[e-mail]>
Date: Wed, 18 Mar 2009 15:18:35 -0400
To: "McLendon, Scott C SAW" <Scott. C. McLendon@saw02. usace. army.mil>
CC: <Guy. Pearce@ncmail. net>, <[e-mail]>,
<Matthews. Kathy@epamail. epa. gov>, <Fox. Rebecca@epamail. epa. gov>, "David Cox"
<[e-mail]>, <[e-mail]>, <[e-mail]>, "Howard
Hall" <[e-mail]>, <[e-mail]>, "Eric Kulz" <eric. kulz@ncmail. net>,
"Tammy.L.Hill" <[e-mail]>, "John Dorney" <[e-mail]>, "Steve
Sollod" <[e-mail]>, "smtp-Sechler, Ron" <[e-mail]>, "Jolly, Samuel K
SAW" <[e-mail]>, "Sugg, Mickey T SAW"
<[e-mail]>, "Walker, William T SAW"
<[e-mail]>, "Manuele, Jean B SAW"
<[e-mail]>, "Jones, Scott SAW" <Scott. Jones@usace. army. mil>
Scott,
Guy Pearce, Tim Baumgartner and I met this morning with the GDS sponsors at the Timberlake Farms
property in Tyrrell County. There are several big-ticket issues that I would like the overarching
NCIRT/PACG-TC group, including the Local IRT (LIRT), to consider.
By copy of this email I request that Great Dismal Swamp Bank be added to the 14Apr agenda. The sponsor
will provide information in advance of the meeting. To be addressed:
1. Brief history: EEP released an RFP. Great Dismal Swamp won the contract to provide the requisite
SMU's. Unbeknownst to the Local IRT (formerly MBRT), the bank sponsors carved out EEP's "stream" area
from the bank property, selling an easement to EEP. This disrupted the bank's credit structure and caused
problems for EEP in terms of reconciling the Bank's MBI/mitigation plan vs. EEP's business processes. I would
like the group to discuss the establishment of sideboards for such future transactions for all banks.
2. Problem. The area that the sponsors carved out for the "stream" easement wasn't located entirely
within a valley. Consequently, EEP is unhappy with the product that was delivered and has asked the sponsor
to re-draw the easement boundary. This opens the door for the LIRT/NCIRT/PACG-TC groups to have input
into how this transaction should have proceeded - and to reconcile the contractual requirements of the Bank's
MBI, EEP's protocols and the Sponsor's responsibilities to honor both. Toward that end, Guy and Tim will be at
the meeting to represent EEP.
3. 1 tasked the bank sponsors to draft language for a proposed amendment to the GDS MBI that will
establish protocol for governing this type of transaction on its mitigation bank properties. We can utilize this
draft language for establishing appropriate sideboards for all banks as referenced in 1 above...
4. Geographic Service Area. The bank sponsors would like the group to consider a much expanded
service area, jumping river basins, etc. I again advised the sponsors of the NCIRT/PACG-TC position on
geographic service area, but they do not agree with our position and desire to broach the subject...
Thanks,
David
Note to Local IRT members (Dorney/Wicker/Sechler): You are most certainly invited to this meeting and I hope
you can attend. If not, I will brief you after the meeting...
1 of 2 4/9/2009 5:32 PM
14Apr IRT/PACG-TC Meeting - Great Dismal Swamp Bank (GDS)
2 of 2 4/9/2009 5:32 PM