20070747 Ver 1_Approval Letter_20130225

February 25, 2013
Mr. Bob Kessler
GreenVest /Flat Swamp, LLC
4405 Dewees Ct
Raleigh, NC 27612
DWQ Project # 07 -0747
Craven County
Re: Flat Swamp Neuse River Riparian Buffer and Nutrient Offset Mitigation Banking
Instrument (MBI)
Flat Swamp Bank Parcel Credit Release
Dear Mr. Kessler:
On January 16, 2013 the Division of Water Quality (DWQ) received the Year Four Monitoring Report,
dated December 2012, for the Flat Swamp Bank Parcel in Orange County, North Carolina. On January
30, 2013, Katie Merritt with DWQ requested an explanation as to why Tables 2 and 3 showed
inconsistent vegetation data from previous monitoring reports. Based on the response received on
February 10, 2013, from Scott Frederick with Soil, Water, and Environmental Group (SWE) regarding
the request, Ms. Merritt requested that Flat Swamp correct the vegetation data in all four annual
monitoring reports. On February 20, 2013, Ms. Merritt received an adequate response from SWE
regarding the requests. On January 10, 2013, DWQ received all nutrient offset and riparian buffer credit
ledgers along with corresponding verification letters and sale receipts for sales' transactions from July
20, 2012 through December 2012. All sales appeared to be compliant.
According to the MBI, the following Project Milestone has been met, and the corresponding credits shall
be released:
Task Credit
7) Submittal and approval of Year 4 Monitoring Report 10%
By copy of this correspondence, DWQ confirms that you have satisfied the above requirements for the
above - referenced tract and an additional 10% of your nutrient offset credits (0.1 x 763,455.24 lb -N =
76,345.52 lb -N) are now available for sale. Also, an additional 10% of your riparian buffer credits (0.1
x 723,448.48 ft2 = 72,344.45 ft2 ) are now available for sale
A total of 90% of the available nutrient offset credits and riparian buffer credits have been released for
this site to date.
Wetlands, Buffers, Stormwater Compliance & Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: Archdale Bldg., 91° Floor, 512 N. Salisbury St, Raleigh, NC 27604
Phone: [phone] FAX: [phone]
Internet: http: / /portal.ncdenr.org /web /wq /swp /ws /webscape
An Equal Opportunity 1 Affirmative Action Employer
NorthCarolina

GreenVest /Flat Swamp, LLC
Page 2 of 2
February 25, 2013
By copy of this letter, you may reduce the financial assurance (Letter of Credit No. 6833 1) from
$40,000.00 to $20,000.00 from CFG Community Bank or Annapolis Community Bank. This reduction
is 20% of the original Letter of Credit amount of $100,000.00.
Please note that credits generated at this site must be used for impacts in HUC 03020202 of the
Neuse River Basin.
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 Katie Merritt at (919) 807 -6371 if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supervis
Wetlands, Buffers, Stormwater, Compliance and
Permitting Unit
KAH/kym
cc:
File Copy -Katie Merritt