Final answer:
The issue with impact in project closing is that the fencing around the holding pond is not tall enough according to local ordinance.
Step-by-step explanation:
An issue with impact in project closing refers to a problem that has a significant effect or consequence on the project. In the provided options, the issue with impact is option b.) the fencing around the holding pond is 4 ft. tall, but the local ordinance requires a height of 5 ft. This is because the local ordinance specifies a requirement that is not met, and failing to meet this requirement may have consequences and potential legal repercussions