20150636 Ver 1_Credit Release Task 6 (final)-phase II_20200720

DocuSign Envelope ID: 02F22B3E-D8FA-4lA3-A459-55DE005FCB2E
ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
S. DANIEL SMITH
Director
Mike Hermann
Watershed Investments NC, LLC
1630 Weatherford Circle
Raleigh, NC 27604
NORTH CAROLINA
Environmental Quality
July 14, 2020
DWR Project #: 2015-0636
Orange County
Re: Neville Farms Mitigation Bank Instrument (MBI)
Neville Farms Phase II Bank Parcel Credit Release — Task 6 (final)
Dear Mr. Hermann:
On February 18, 2020, the Division of Water Resources (DWR) issued a partial credit release of 5%
to Watershed Investments NC, LLC (WINC) for the subject site out of concerns that the vegetation
was not meeting success criteria. In order to determine if the remaining 5% of the credit release for
Task 6 could be issued, DWR performed a site visit on July 11, 2020 to assess vegetation conditions
on Phase I and Phase IL DWR determined onsite that the plot data submitted with the Year 3
Monitoring Report accurately represented the condition of the planted vegetation on both Phase I and
Phase II and that WINC would need to submit an Adaptive Management Plan prior to receiving the
remaining credit release for Task 6. DWR received an Adaptive Management Plan on July 12, 2020.
By copy of this correspondence, DWR approves the Adaptive Management Plan, which is attached
to this letter for reference. Future credit releases will be dependent on successful implementation and
completion of the approved Adaptive Management Plan.
On January 28, 2020, DWR received a continuation certificate for performance bond
(#CE00155800021) issued to WINC to cover monitoring and maintenance at the subject site. The
term of this bond applies through February 21, 2021. Therefore, WINC is required to renew the
performance bond prior to February 21, 2021 and is required to renew the bond annually for at least 2
more years. Future credit releases will be dependent on both the renewal of this performance bond
and the approval of the annual monitoring reports.
According to the MBI signed on January 7, 2016, the following Project Milestones for Phase II have
been fully met, and the corresponding credits shall be released:
Task/Milestones
6) Monitoring Report #3: Approved by the DWR final)
Credit
5%
By copy of this correspondence, DWR confirms that you have partially satisfied the above
requirements for the above -referenced tract. Therefore, 5% of your Jordan Lake riparian buffer
Preservation credits (0.05 x 2,330.50 ft2=116.53 ft2) are now available to sell. Additionally, 5% of
your Jordan Lake riparian buffer Restoration credits (0.05 x 55,321.20 ft2 = 2,766.06 ft2) are now
available to sell.
North Carolina Department of Environmental Quality Division of Water Resources
512 North Salisbury Street 1 1611 Mail Service Center Raleigh, North Carolina 27699-1611
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DocuSign Envelope ID: 02F22B3E-D8FA-41A3-A459-55DE005FCB2E
Neville Farms
Phase II
July 14, 2020
The riparian buffer Preservation and Restoration credits must be used for authorized impacts
in the Upper New Hope Sub -watershed according to guidelines in the Consolidated Buffer
Mitigation Rule, 15A NCAC 02B .0295, which became effective on November 1, 2015.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
PW/kym
Attachments: Adaptive Management Plan
cc: File Copy (Katie Merritt)
Sincerely,
DocuSigned by:
/10
949D91BA53EF4E0—
Paul Wojoski, Supervisor
401 and Buffer Permitting Branch
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