HomeMy WebLinkAboutCredit Release Task 2 - Foy Farm.docxDocuSign Envelope In OBBBAA3B-8C08-4FAE-B748-OE10D99DC5Dl,
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
May 8, 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 2
Dear Mr. Jenkins:
On March 11, 2024, the Division of Water Resources (DWR) received documentation from
Restoration Systems, LLC (RS) that the Foy Farm site had been planted and constructed in its
entirety and monitoring plots had been installed. On April 8, 2024, staff with DWR, with assistance
from staff with RS, inspected the site and confirmed that the subject site had been adequately planted
and that all monitoring plots were installed. Additionally, the conservation easement boundary for
the site has been adequately marked.
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
2) All riparian Earthwork, Plnating & Installation of monitoring devices 20%
completed, easement boundaries adequately marked, and all applicable
permits obtained. A site visit by DWR was performed
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:
• 20% of the Nitrogen nutrient offset credits (0.20 x 106,855.375 lb-N = 21,371.075 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.
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: OBBBAA3B-8CO8-4FAE-B748-OE10D99DC5DD Foy Farm Site
Rcstoration Systems, LLC
May 8, 2024
Upon receiving this correspondence update credit ledgers accordingly. Please feel free to contact
Katie Merritt at katie.merrittkdeq.nc.gov if you have any questions regarding this correspondence.
Sincerely,
DoculS'ig-n1e-d 'by: �;A
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker — (RS/Davey — via electronic mail)
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