20201942 Ver 2_Credit Release Task 1,7 - Cox Pond_20220630

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
S. DANI£L SMITH
Director
NORTH CAROLINA
Environmental Quality
June 30, 2022
John Hutton DWR Project #: 2020-1942v2
Wildlands Holdings III, LLC Wayne County
(via electronic mail: jhuttonLwildlandseng.com )
Re: Wildlands Neuse Umbrella Mitigation Banking Instrument (UMBI)
Cox Pond Bank Parcel Credit Release — Tasks I & 7
Dear Mr. Hutton:
On June 10, 2022, the Division of Water Resources (DWR) approved a Bank Parcel Development
Package (BPDP) for the above -referenced site under the terms and conditions of the Wildlands
Holdings III, LLC (Wildlands) Wildlands Neuse Umbrella Mitigation Banking Instrument (UMBI)
to establish a nutrient offset and buffer mitigation bank. On June 27, 2022, DWR received a
performance bond (#107612651) issued to Wildlands from Travelers Casualty and Surety Company
of America, in the amount of $150,000, to cover performance obligations for the construction of the
subject site. The term of this bond will remain in effect until DWR has provided a written approval
of the As -Built Report.
Lastly, on June 27, 2022, the DWR received a recorded conservation easement and corresponding
plat for the subject site. Wildlands provided confirmation that the conservation easement for the
subject site has been successfully assigned to Unique Places to Save (UPS). UPS is a 501(c)(3) non-
profit corporation and has been approved by DWR as a long-term steward for this mitigation bank.
In accordance with the UMBI, signed on June 10, 2022, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones Credit
1) UMBI and BPDP Approved by DWR, Conservation Easement Recorded, 20%
& Financial Assurance Posted
7) Item B (1) of Section X in the UMBI (assign the easement 5%
to stewardship) has been completed and approved by DWR
TOTAL: 25%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and therefore, 25% of the Neuse buffer Restoration credits (0.25 x
418,593 ft2 = 104,648.25 ft2) and 25% of the Nitrogen nutrient offset credits (0.25 x 27,175.007 lb-N
= 6,793.752 lb-N) are now available to sell. Additionally, 25% of the Neuse buffer Preservation
credits (0.25 x 1,066.103 ft2 = 266.526 ft2) are now available to sell.
D Qi� North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 1 1617 Mail Service Center I Raleigh, North Carolina 27699-1617
N11H fH (:A�i(1!.INA �
0­O'tpfEnwrpn tan Qualify 919.707,9000

Cox Pond Mitigation Site
Wildlands
June 30, 2022
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Neuse River Basin excluding the Falls Lake Watershed pursuant to 15A NCAC
02B .0703, which became effective on April 1, 2020. Additionally, the riparian buffer credits
must be used for impacts in the Neuse River Basin in accordance with guidelines in the
Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295, which became effective on
November 1, 2015
Please use the Credit Ledger Templates provided in the approved UMBI to track and report credit
availability for the Cox Pond Mitigation Bank. Upon receiving this correspondence, please submit
three (3) credit ledgers to DWR reflecting the available credits released for each mitigation type
(Buffer Restoration, Buffer Preservation, Nitrogen Nutrient Offset).
Please feel free to call me at [phone] if you have any questions regarding this
correspondence.
Sincerely,
DocuSigned by:
V
A43C72700BD543E...
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (Katie Merritt)
Ashley Yarsinske (Wildlands) — via electronic mail
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