20160980 Ver 2_Credit Release Task 3_1-2020_20200108

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
LINDA CULPEPPER
Director
NORTH CAROLINA
Environmental Quality
January 8, 2020
Brad Breslow DWR Project #: 2016-0980v2
EBX Neuse 1, LLC Johnston County
302 Jefferson Street, Suite 110
Raleigh, NC 27605
Re: RES Neuse Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument (UMBI)
Meadow Spring Bank Parcel Credit Release — Task 3
Dear Mr. Breslow:
On October 29, 2019, the Division of Water Resources (DWR) received an As -Built Report from
EBX Neuse I, LLC (EBX) for the Meadow Spring site. According to the As -Built survey
submitted with the As -Built Report, there are slight adjustments in the total amounts of
buffer mitigation and nutrient offset credits as compared to the approved Bank Parcel
Development Package. The subject site has generated 192,368 ft2 of buffer restoration
credits, 26,805 ft2 of buffer enhancement credits and 4,271 lbs-Nitrogen nutrient offset
credits. The credits being released have been modified to reflect any changes to the
creditable acreage as proposed in the BPDP.
DWR received a performance bond (#9332404) in the amount of $100,000 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, 2019 and ends October 17, 2020. 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
3) Monitoring Financial Assurance Posted and DWR Approval of As -Built Report 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) plus 70.65 lbs-N yields 497.75 lbs-N that are now available to sell.
Additionally, 10% of your Neuse buffer Restoration credits (0.10 x 192,368 ft2 = 19,236.80 ft2) plus
1,296.90 ft2 yields 20,533.70 ft2 that are now available to sell. Lastly, 10% of your Neuse buffer
Enhancement credits from cattle exclusion (0.10 x 26,805 ft2 = 2,680.50 ft2) minus 1,269.90 ft2 yields
19410.60 ft2 that are now available to sell.
North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 1 1617 Mail Service Center I Raleigh, North Carolina 27699-1617

Meadow Spring Site
EBX
January 8, 2020
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 02B .0295, which became effective on November 1, 2015.
Please feel free to call [phone] if you have any questions regarding this correspondence.
Sincerely,
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (Katie Merritt)
Caitlan Parker (EBX) — via electronic mail
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