Credit Release Task 6

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
S. DANIEL SMITH
Director
Brad Breslow
NORTH CAROLINA
Environmental Quality
February 22, 2022
DWR Project #: 2016-0980v2
EBX Neuse 1, LLC Johnston County
302 Jefferson Street, Suite 110
Raleigh, NC 27605
(via electronic mail: bbreslowgres.us )
Re: RES Neuse Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument (UMBI)
Meadow Spring Bank Parcel Credit Release — Task 6
Dear Mr. Breslow:
On October 5, 2021, the Division of Water Resources (DWR) received a Year 3 Monitoring Report
from Resource Environmental Solutions, LLC (RES) on behalf of EBX-Neuse 1, LLC (EBX), for the
Meadow Spring site. Overall, site conditions appear to look good and no encroachment within the
conservation easement areas was observed.
DWR received a continuation certificate for the performance bond (#9332404) in the amount of
$80,000 issued to EBX from Fidelity and Deposit Company of Maryland, to cover monitoring and
maintenance at the subject site. The term of this bond applies beginning October 17, 2021 and ends
October 17, 2022. Future credit releases will be dependent on both the renewal of this performance
bond and the annual monitoring reports.
In accordance with the UMBI, signed on January 31, 2018, the following Project Milestones have
been met and the corresponding credits shall be released
Task/Milestones Credit
6) Monitoring Report #3: Approved by the DWR 10%
TOTAL: 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and 10% of your Nitrogen nutrient offset credits
(0.10 x 4,271 lb-N = 427.1 lb-N) are now available to sell. Additionally, 10% of your Neuse buffer
Restoration credits (0.10 x 192,368 ft2=19,236.80 ft2) and 10% of your Neuse buffer Enhancement
credits from cattle exclusion (0.10 x 26,805 ft2 = 2,680.50 ft2) are now available to sell.
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North Carolina Department of Environmental Quality j Division of Water Resources
512 North Salisbury Street 1 1617 Mail Service Center Raleigh, North Carolina 27699-1617
NORT
O"O.W ro .-1 919.707.9000

Meadow Spring Site
EBX
February 22, 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 feel free to call [phone] if you have any questions regarding this correspondence.
Sincerely,
�Do,.cuu,Siigned by:
W V
A43C72700BD543F
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (Katie Merritt)
Jason Murnock (EBX/RES) (EBX) — via electronic mail: [e-mail]
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