20160980 Ver 2_Credit Release Task 1 & 7_20181120

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
LINDA CULPEPPER
Interim Director
Brad Breslow
EBX Neuse 1, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
NORTH CAROLINA
Environmental Quality
November 20, 2018
DWR Project #: 2016-0980v2
Johnston County
Re: RES Neuse Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument
(UMBI)
Meadow Spring Bank Parcel Credit Release - Task 1 & 7
Dear Mr. Breslow:
On May 23, 2018, 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 RES Neuse
Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument (UMBI)). On October 31, 2018,
the DWR received a recorded conservation easement and corresponding plat for the subject site
from Resource Environmental Solutions, LLC (RES) on behalf of EBX Neuse 1, LLC (EBX). Additionally,
RES provided confirmation that the conservation easement for the subject site has been
successfully assigned to The North Carolina Wildlife Habitat Foundation, Inc (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.
Lastly, DWR received a performance bond (#9298628) issued to EBX from Fidelity and Deposit
Company of Maryland, in the amount of $150,000, to cover performance obligations for the
construction of the subject site. The term of this bond is from October 25, 2018 through October
25, 2019.
In accordance with the UMBI, signed on January 31, 2018, the following Project Milestones have
been met and the corresponding credits shall be released:
�TH CAA�D_EQI
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
919.707.9000

Task/Milestones
Meadow Spring Bank
EBX
November 20, 2018
Credit
1) Instrument and BPDP Approved by DWR, Conservation Easement recorded, 20%
and Financial Assurance Posted
7) Item B (1) of Section X in the Instrument (assign the easement 5%
to stewardship) has been completed and approved by DWR
TOTAL: 25%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and 25% of your Nitrogen nutrient offset credits
(0.25 x 4,114 Ib -N = 1,028.50 Ib -N) are now available to sell. Additionally, 25% of your Neuse buffer
Restoration credits (0.25 x 189,486 ft2 = 47,371.50 ft2) and 25% of your Neuse buffer Enhancement
credits from cattle exclusion (0.25 x 29,627 ft2= 7,406.75 ft2) are now available to sell.
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.0240. 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
0213.0295, which became effective on November 1, 2015.
Please use the Credit Ledger Templates provided on our website at:
http://porta1.ncdenr.org/web/wq/nutrientbuffertemplates to track and report credit availability for
the Meadow Spring Mitigation Bank. Upon receiving this correspondence, please submit three
credit ledgers to DWR reflecting the available credits released for each mitigation type.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
Sincerely,
4_vw '
Karen Higgins, Supervisor
401 & Buffer Permitting Branc
KAH/km
cc:File Copy (Katie Merritt)
Caitlan Parker (EBX) — via electronic mail
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