Credit Release Task 1,7 - Foy Farm.docx

DocuSign Envelope ID: OA941 D28-55D5-46BF-921 F-E50OA335BB57
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
February 26, 2024
Restoration Systems, LLC DWR ID# 2020-1366v2
Attn: Barrett Jenkins Jones County
(via electronic mail: barrett.jenkinskdavey.com )
Re: Restoration Systems' Neuse 04 Nutrient Offset Umbrella Banking Instrument (NUBI)
Foy Farm Bank Parcel Credit Release — Task I & 7
Dear Mr. Jenkins:
On May 1, 2023, 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 Neuse 04
Nutrient Offset Umbrella Banking Instrument (NUBI) made between Restoration Systems, LLC (RS)
and DWR, to establish a nutrient offset bank. On January 29, 2024, DWR received recorded
conservation easements and a corresponding plat for the subject site. RS also included confirmation
that the conservation easement for the subject site has been successfully assigned to the North
Carolina Wildlife Habitat Foundation (NCWHF). NCWHF is a 501(c)(3) non-profit corporation and
has been approved by DWR as a long-term steward for this mitigation bank.
DWR received a performance bond (#K4173016A) issued to RS from Federal Insurance Company,
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.
In accordance with the NUBI (DWR ID# 2020-1366V2), signed on February 24, 2023, the following
Project Milestones have been met and the corresponding credits shall be released:
Task/Milestones Credit
1) Banking Instrument and BPDP Approved by DWR, Conservation Easement 20%
Recorded & 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%
North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 1 1611 Mail Service Center I Raleigh, North Carolina 27699-1611
NORTH CARCLINA
919.707.9000

DocuSign Envelope ID: OA941 D28-55D5-46BF-921 F-E500A335BB57 Foy Farm Site
Restoration Systems, LLC
February 26, 2024
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and therefore, the following credits are being released and are now
available to sell:
• 25% of the Nitrogen nutrient offset credits (0.25 x 106,855.375 lb-N = 26,713.844 lb-N)
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020204 of the Neuse River Basin pursuant to 15A NCAC 02B .0703, which became effective
on April 1, 2020.
Please use the Credit Ledger Templates provided in the approved NUBI to track and report credit
availability for the Foy Farm Mitigation Bank. Upon receiving this correspondence, please submit
one (1) credit ledger to DWR reflecting the available credits released for each mitigation type
(Nitrogen Nutrient Offset).
Please feel free to contact Katie Merritt at katie.merritt(c-r�,deq.nc. og_v if you have any questions
regarding this correspondence.
Sincerely,
DocuSigned by:
5��� CJ(JSS
755ABFOCD808428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker — (RS/Davey — via electronic mail)
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