20070747 Ver 1_Credit Release 2_20100111

NCDENR
North Carolina Department of Environment and Natural
Division of Water Quality
Beverly Eaves Perdue Coleen H. Sullins
Governor Director
January 11, 2010
Mr. Scott Frederick
Greenvest/Flat Swamp, LLC
W01 Capability Drive, Suite 312
Raleigh, NC 27606
Re: Credit Release #2
Flat Swamp Buffer Bank
Craven County
DWQ #07-0747
Dear Mr. Frederick:
Resources
Dee Freeman
Secretary
We have received the Year 1 Monitoring Report dated December 22, 2009 which documents the
first growing season at the flat Swamp property. Based on the data presented in the report, all
monitoring plots exceeded the success criterion of 320 stems per acre.
According to the MBI, the following Project Milestones have been met, and the corresponding
credits shall be released:
Milestones Credit
1) Submittal and approval of Year 1 Monitoring Report 10%
By copy of this correspondence, DWQ confirms that you have satisfied the above requirements
for the above-referenced tract and 10% of your nutrient offset credits (0.1 x 649,879.14 =
64,987.91 lb-N) are now available for sale. Also, 10% of your riparian buffer credits (0.1 x
20.34 = 2.034 credits) are now available for sale.
A total of 389,927.48 lb N (60%) have been released for this site. Also, a total of 12.204 acres of
Neuse riparian buffer credits have been released to date.
Please note that credits generated at this site must be used for impacts in HUC 03020202.
401 OversighttExpress Review Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699-1650
Location: 2321 Crabtree Blvd., Raleigh, North Carolina 27604
Phone: [phone] FAX: [phone]
Internet: http:llh2o.enr.state.nc.us/ncwetlands/
NorthCarohna
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An Equal Opportunity 1 Affirmative Action Employer
Mr. Frederick
Flat Swamp Mitigation Bank
Page 2 of 2
1/11/2010
Please note that the ledger submitted with your Year 1 Monitoring report was blank, e.g. did not
show any available credit. The ledger should reflect both Credit Release #1 (November 30,
2009) and this credit release.
As always, please copy DWQ on all correspondence related to credit sales, referencing the DWQ
project number associated with the impacts for which credits are being purchased as
compensatory mitigation.
Please feel free to contact Eric Kulz at [phone] if you have any questions regarding this
correspondence.
Sincere , /4a
Cyndi B. Karoly, Program Manager
401 Oversight and Express Review Program
cc: File Copy (Eric Kulz)