20090858 Ver 3_Ivey 5% Release_20140218

LTIFAA
NCDENR
North Carolina Department of Environment and
Division of Water Resources
Pat McCrory
Governor
Mr. Thomas Rinker
EBX -EM, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Water Quality Programs
Thomas A. Reeder
Director
February 18, 2014
Natural Resources
John E. Skvarla, III
Secretary
DWR Project # 09 -0858 v3
Orange County
Re: Cape Fear Riparian Buffer and Nutrient Umbrella Mitigation Banking Instrument
(UMBI)
Ivey Ferguson Bank Parcel Credit Release — 5%
Dear Mr. Rinker:
On February 17, 2014, the Division of Water Resources (DWR) received and approved a
modification to the subject Umbrella Mitigation Banking Instrument (UMBI). The requested
modification provides EBX -EM, LLC (EBX) the ability to use a credit release schedule
comparable in newer UMBI documents. On February 18, 2014, the DWR received
documentation showing that the conservation easement for the subject site had been successfully
transferred and assigned to the North Carolina Wildlife Habitat Foundation.
According to the UMBI, signed on February 17, 2014, the following Project Milestone has been
met, and the corresponding credits shall be released:
Milestones
Credit
7) Item J (2) (a) of Section VI (assign conservation easement to land trust or 5%
stewardship) has been completed and approved by DWR
By copy of this correspondence, DWR confirms that you have satisfied the above requirements
for the above - referenced tract. Therefore, 5% of your generated nitrogen offset credits (0.05 x
23,129.23 = 1,156.46 lb -N) and 5% of your generated phosphorus credits (0.05 x 1,489.70 =
74.48 lb -P) are now released. Generated credits are credits that have not been applied to the
appropriate delivery factor.
401 and Buffer Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699 -1650
Location: 512 N. Salisbury St. Raleigh, North Carolina 27604
Phone: [phone] FAX: [phone]
Internet: www.ncwaterquality.org
An Equal Opportunity 1 Affirmative Action Employer

Environmental Banc & Exchange, LLC
February 18, 2014
Page 2 of 2
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
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, 5% of your delivered nitrogen offset credits (0.05 x 9,251.69 =
462.58 lb -N) and 5% of your delivered phosphorus credits (0.05 x 283.04 =14.15 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,
kmk � ,
Karen Higgins, Supervisor
401 & Buffer Permitting Unit
KAH /kym
cc:
File Copy - Katie Merritt
Tommy Cousins — EBX -EM, LLC (sent via electronic mail)