Credit Release Task 4 - Caraway Bluff II.docx

DocuSign Envelope ID: F279CDCE-5EFD-42D6-A032-4C01 1 F582031
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
April 26, 2024
Environmental Banc & Exchange, LLC DWR Project #: 2014-0820v6
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
Carraway Bluff Phase II Bank Parcel Credit Release — Task 4
Dear Ms. Mceachran,
On January 22, 2024, the Division of Water Resources (DWR) received a Year 1 Monitoring Report
from Environmental Banc & Exchange, LLC (EBX) for the Carraway Bluff Phase I1 site. Overall,
site conditions appear to look good, performance standards for vegetation were met and no
encroachment within the conservation easement areas was noted.
DWR received a performance bond (#612402579) issued to EBX from United States Fire Insurance
Company, in the amount of $100,000, to cover monitoring and maintenance at the subject site. The
term of this bond has been extended through December 31, 2024. Future credit releases will be
dependent on both the renewal of this performance bond and the annual monitoring reports. By copy
of this correspondence, DWR approves a twenty percent (20%) reduction in the current bond
amount, reducing the required bond amount to $80,000.
In accordance with the UMBI, signed on April 22, 2022, and the BPDP approved on January 27,
2023, the following Project Milestones have been met and the corresponding credits shall be
released:
Task/Milestones Credit
4) Monitoring Report #1: Approved by the DWR & financial assurance renewed 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and the following credits are released:
• 10% of the Neuse riparian buffer restoration credits (0.10 x 259,201.227 ft2 = 25,920.123
ft2)
• 10% of the Neuse riparian buffer preservation credits (0.10 x 5,749.712 ft2 = 574.971 ft2)
• 10% of the Nitrogen nutrient offset credits (0.10 x 49,228.708 lb-N = 4,922.871 lb-N)
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: F279CDCE-5EFD-42D6-A032-4C011 F582031 Caraway Bluff Phase II Site
EBX
April 26, 2024
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, excluding the Falls Lake Watershed, in
accordance with guidelines in the Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295,
which became effective on November 1, 2015.
Upon receiving this correspondence, update all credit ledgers accordingly. Please feel free to contact
Katie Merritt at katie.merrittkdeq.nc. ov if you have any questions regarding this correspondence.
Sincerely,
Docu'S.ig-n1e-d,by,
5��� C1(JSS
755ABFOCD808428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Amy Staley - EBX (via electronic mail: astaley(&res.us )
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