20090858 Ver 3_Credit Release 10-2013_20131024

Ail®
NCDENR
North Carolina Department of Environment and Natural Resources
Division of Water Resources
Water Quality Programs
Pat McCrory Thomas A. Reeder John E. Skvarla, III
Governor Director Secretary
October 24, 2013
Mr. Thomas Rinker
EBX -EM, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
DWR Project # 09 -0858 v3
Orange County
Re: Cape Fear Riparian Buffer and Nutrient Mitigation Umbrella Banking Instrument
(UBI)
Ivey Ferguson Bank Parcel Credit Release — Task 5
Dear Mr. Rinker:
On September 24, 2013, the Division of Water Resources (DWR) received the Year Two
Monitoring Report, dated September 23, 2013, for the Ivey Ferguson Bank Parcel in Orange
County, North Carolina. On September 30, 2013, Katie Merritt with DWR submitted comments
regarding the report. On October 24, 2013, Ms. Merritt received a satisfactory response to the
comments from McAdams Company on behalf of EBX -EM, LLC.
According to the UBI, the following Project Milestones have been met, and the corresponding
generated and delivered credits shall be released:
Milestones
Credit
Task 5) Submittal and Approval of the Year 2 Monitoring Report 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements
for the above - referenced tract. Therefore, 10% of your generated nitrogen offset credits (0.1 x
23,129.23 = 2,312.92 lb -N) and 10% of your generated phosphorus credits (0.1 x 1,489.70 =
148.97 lb -P) are now released. Generated credits are credits that have not been applied to the
appropriate delivery factor.
The delivery factors applied to this bank due to its location in the 14 -digit HUC
03030002060070 are 40% for nitrogen and 19% for phosphorous. Therefore, the total amounts
401 and Buffer Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: 512 N. Salisbury St, Raleigh, North Carolina 27604
Phone: 919 - 807 -63001 FAX: [phone]
Internet: www.ncwaterquality.org
An Equal Opportunity 1 Affirmative Action Employer

Environmental Banc & Exchange, LLC
October 24, 2013
Page 2 of 2
of delivered nutrient offset credits for this 10.18 acre site are 9,251.69 lb -N and 283.04 lb -P. By
copy of this correspondence, 10% of your delivered nitrogen offset credits (0.1 x 9,251.69 =
925.17 lb -N) and 10% of your delivered phosphorus credits (0.1 x 283.04 = 28.30 lb -P) are
now available for sale. Please update your credit ledgers accordingly.
Please note that only the delivered nutrient offset credits can be sold from this bank and
used for impacts in the Upper New Hope Arm of Jordan Lake within the Cape Fear River
Basin.
As always, please copy DWR on all correspondence related to credit sales.
Please feel free to contact Katie Merritt at (919) 807 -6371 if you have any questions regarding
this correspondence.
Sincerely,
Karen Higgins, Supervisor
401 & Buffer Permitting Unit
KAH/kym
cc:
File Copy - Katie Merritt
Tommy Cousins — EBX -EM, LLC (sent via electronic mail)