HomeMy WebLinkAbout20201091 Ver 2_Task 4_ShadyGrove_MY1_Credit Release Request Form_20240422
3600 Glenwood Avenue, Suite 100
Raleigh, NC 27612
Corporate Headquarters
6575 West Loop South, Suite 300
Bellaire, TX 77401
Main: 713.520.5400
April 12, 2024
CREDIT RELEASE REQUEST FORM
To: NCDEQ-DWR Nutrient Offset Coordinator
From: Jamey McEachran, jmceachran@res.us, (919) 623-9889
Through: Environmental Banc and Exchange, LLC (EBX)
We formally request a credit release for the Shady Grove Riparian Buffer and Nutrient Offset Mitigation
Site (DWR Project # 2020-1091v2) for completion of Task #4: "Monitoring Report #1: Approved by
the DWR** & financial assurance renewed" per the approved credit release schedule, which is included
in the Attachments with this request. The following documents have been submitted to DWR for Task #4:
1) Executed M&M Bond for Financial Assurances that will renew in August 2024, 2) Monitoring
Report for MY1 that has been approved as of an email from Andrew Friedman-Herring on April
12th, 2024.
Credits requested for release are detailed below:
Credit Type %
Release
Credit Amount
(Include Units)
Notes/Comments
Buffer Restoration 10 2,970.700
Buffer Preservation 10 198.040
Generated Nitrogen Nutrient Offset 10 2,894.285
Signature:
Attachments: 1) Credit Release Schedule (PDF from Approved UMBI and Excel), 2) As-Built Credit Table, 3)
EBX developed Credit Release Schedule with Credit Release Numbers
12
VIII. CREDIT RELEASE SCHEDULE
A. Upon submittal of all appropriate documentation by the Sponsor, and subsequent approval
by DWR, it is agreed that the Riparian Buffer Credits and Nutrient Offset Credits
associated with each individual Bank Parcel will become available for sale to a third party
in accordance with Credit Release Schedule in Table 3.0 below.
Table 3.0 - Credit Release Schedule for Riparian Buffer and Nutrient Offset Credits
Task Project Milestone
% Credit
Available for
Sale
1
Instrument and BPDP Approved by DWR, Conservation Easement
Recorded* and Financial Assurance Posted 20
2
All Riparian Earthwork & Mitigation Activities, Planting and Installation
of Monitoring Devices completed, easement boundaries adequately
marked, all applicable permits obtained, site visit performed by DWR 20
3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10
4
Monitoring Report #1: Approved by the DWR** & Financial Assurance
Posted 10
5
Monitoring Report #2: Approved by the DWR** & Financial Assurance
Posted 10
6
Monitoring Report #3: Approved by the DWR** & Financial Assurance
Posted 10
7
Item B (1) of Section X in this Instrument has been completed and
approved by DWR. 5
No remaining credits will be released until the conservation easement has
been assigned to an approved land trust or stewardship
8
Monitoring Report #4: Approved by the DWR** & Financial Assurance
Posted 5
9
Monitoring Report #5: Approved by the DWR** and final site visit by
DWR has been conducted 10
Total 100%
* For specification, please see Section V in this Instrument
** DWR Approval provided upon a determination that the site is meeting success criteria contained within the
approved BPDP
B. DWR may modify credit release schedules based on the information submitted or the order
in which required information is received. DWR will notify the Sponsor of any
modification to the credit release schedule.
Any major deviations to the Bank Parcel that were not authorized in writing by DWR
prior to implementation may affect the amount of riparian buffer credits and nutrient
offset credits that will be generated by the Bank Parcels
Table 1. Shady Grove, 2020‐1091v2, Project Credits
Project Area
N Credit Conversion Ratio (ft2/pound)
P Credit Conversion Ratio (ft2/pound)
Credit Type Location
Subject? (enter
NO if
ephemeral or
ditch 1)
Feature Type Mitigation Activity Min‐Max Buffer
Width (ft)Feature Name Total Area (ft2)
Total (Creditable)
Area of Buffer
Mitigation (ft2)
Initial Credit
Ratio (x:1)% Full Credit Final Credit
Ratio (x:1)
Convertible to
Riparian
Buffer?
Riparian Buffer
Credits
Convertible to
Nutrient Offset?
Delivered
Nutrient Offset:
N (lbs)
Delivered
Nutrient
Offset: P (lbs)
Buffer Rural Yes I / P Restoration 0‐100 DJ1 13,775 13,775 1 100% 1.00000 Yes 13,775.000 Yes 718.798 —
Buffer Rural No I / P Restoration 0‐100 DJ2 15,932 15,932 1 100% 1.00000 Yes 15,932.000 Yes 831.353 —
Nutrient Offset Rural No Ditch Restoration 0‐100 DJ3, DJ5 211,491 1 100% No — Yes 11,035.883 —
Nutrient Offset Rural Yes I / P Restoration 101‐200 DJ1 90,166 1 33% No — Yes 4,704.982 —
Nutrient Offset Rural No I / P Restoration 101‐200 DJ2 29,237 1 33% No — Yes 1,525.626 —
Nutrient Offset Rural No Ditch Restoration 101‐200 DJ3, DJ5 223,765 1 33% No — Yes 11,676.357 —
Nutrient Offset Rural No Ditch Restoration 0‐100 Non‐diffused Flow
Deductions (DJ3)4,350 1 100% No — No — —
Nutrient Offset Rural No Ditch Restoration 101‐200 Non‐diffused Flow
Deductions (DJ3)4,350 1 33% No — No — —
———
———
———
———
———
———
———
———
———
———
———
Totals (ft2):593,066 29,707 29,707.000 30,492.999 0.000
Total Buffer (ft2):29,707 29,707
Total Nutrient Offset (ft2):563,359 N/A
Total Ephemeral Area (ft2) for Credit:00
Total Eligible Ephemeral Area (ft2):9,902 0.0%Ephemeral Reaches as % TABM
Enter Preservation Credits Below Total Eligible for Preservation (ft2):9,902 25.0%Preservation as % TABM
Credit Type Location Subject? Feature Type Mitigation Activity Min‐Max Buffer
Width (ft)Feature Name Total Area (sf)
Total (Creditable)
Area for Buffer
Mitigation (ft2)
Initial Credit
Ratio (x:1)% Full Credit Final Credit
Ratio (x:1)
Riparian Buffer
Credits
Buffer Rural Yes I / P0‐100 DJ1 137,815 0 10 100% —
Buffer Rural No I / P0‐100 DJ2 18,013 9,902 5 100% 5.00000 1,980.400
Buffer Rural Yes I / P 101‐200 DJ1 16,806 0 10 33% —
Rural No I / P 101‐200 DJ2 4,031 0 5 33% —
Preservation Area Subtotals (ft2):176,665 9,902
Square Feet Credits
29,707 29,707.000
0 0.000
9,902 1,980.400
39,609 31,687.400
Square Feet Credits
Nitrogen:28,942.848
Phosphorus:0.000563,359
TOTAL AREA OF BUFFER MITIGATION (TABM)
TOTAL NUTRIENT OFFSET MITIGATION
Mitigation Totals
Nutrient Offset:
Preservation:
Total Riparian Buffer:
Neuse 03020201 ‐ Outside Falls Lake
19.16394
N/A
Restoration:
Enhancement:
Mitigation Totals
1. The Randleman Lake buffer rules allow some ditches to be classified as subject according to 15A NCAC 02B .0250 (5)(a).
last updated 08/03/2020
Original Mit Plan Credits 28,515.000 950.500 28,225.981
Riparian Buffer and Nutrient Offset Credit Release Schedule TOTAL (As-Built) Credits: 29,707.000 1,980.400 28,942.848
Credit Release # % Restoration* Preservation* Nitrogen*
1 Instrument and BPDP Approved by DWR, Conservation Easement Recorded and
Financial Assurance Posted 20% 5,941.400 396.080 5,788.570
2
All Riparian Earthwork & Mitigation Activities, Planting and Installation
of Monitoring Devices completed, easement boundaries adequately
marked, all applicable permits obtained, site visit performed by DWR
20% 5,941.400 396.080 5,788.570
3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10% 2,970.700 198.040 2,894.285
4 Monitoring Report #1: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285
5 Monitoring Report #2: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285
6 Monitoring Report #3: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285
7 Item B (1) of Section X in this Instrument has been completed and approved by DWR. 5% 1,485.350 99.020 1,447.142
8 Monitoring Report #4: Approved by the DWR** & financial assurance renewed 5% 1,485.350 99.020 1,447.142
9 Monitoring Report #5: Approved by the DWR** and final site visit by DWR has been
conducted 10% 2,970.700 198.040 2,894.286
*Numbers are based on As-Built credit amounts.