20100408 Ver 1_Mitigation Bank Credit Release_20110808

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NCDENR
North Carolina Department of Environment and Natural Resources
Divis on`of`Water Quality
Beverly Eaves Perdue Coleen H. Sullins Dee Freeman
Governor Director Secretary
Mr. Norton Webster
Environmental Banc & Exchange, LLC
909 Capability Drive, Suite 3100
Raleigh, NC 27606
Re: EBX Neuse Riparian Buffer Umbrella Mitigation Bank
Rudolph Buffer/Nutrient Offset Site Credit Release #3
HUC: 03020201
DWQ #2010-0408
Dear Mr. Webster:
On May 11, 2011, this office received an As-Built Report dated May 10, 2011. DWQ received a final
revised As-Built Report dated July 7, 2011 which,this,office approves. The approved As-Built report
resulted in a total of 3.97 acres (173,064 sqft) of buffer' mitigation credits and 40.66 acres (92,420 lbs
nitrogen) of nutrient reduction credits.
The approved Bank Parcel Development Package (BPDP) and the corresponding Umbrella Mitigation
Banking Instrument (UMBI) for the Rudolph bank parcel, states that the "financial assurances shall be
retired upon submittal of the as-built report". The performance bond # 1000881361 dated July 23, 2010
is retired 100% on the date of this letter. DWQ releases EBX Neuse 1, LLC from this bond. DWQ
received a second performance bond #1000904468 on August 3, 2011 to cover the 5-year monitoring
phase of the subject bank parcel.
According to the UMBI (DWQ Project #2008-1473), the following Project Milestones have been met,
and the corresponding credits shall be released:
Milestones Credit
3) Approval of As-Built Report and Monitoring Bond 10%
By copy of this correspondence, DWQ confirms that you have satisfied the above requirements for the
above-referenced tract and an additional 10% of, yqurI riparian buffer credits (26,186 ft' credits) and
10% of your nutrient offset (nitrogen) credits (1#lb-N) are now available for sale.
August 8, 2011
Johnston County
DWQ#: 2010-0408
The credit releases have been modified to account for the difference between the As-Built numbers and
*the proposed numbers from the BPDP.
Wetlands, Buffers, Stormwater Compliance & Permitting Unit
1650 Mail Service Center, Raleigh, North Carolina 27699-1650
Location: Archdale Bldg., 512 N, Salisbury St, Raleigh, NC 27604
Phone: [phone] FAX: [phone]
Internet: http://portal.ncdenr,org/web/wq/swp/ws/webscape
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NorthCarolina
Naturallff
An Equal Opportunity, Affirmative Action Employer
Environmental Banc & Exchange, LLC
Page 2 of 2
August 8, 2011
As of the date of this letter, a total of 86,532 ft2 of riparian buffer credits and 46,210.09 lb-N have been
released for this site.
In previous correspondence, dated July 19, 2011, it was explained to project manager, Martin Hovis, that
the performance/monitoring bond may be lowered each year based on the adjusted cost to finish the
monitoring. Your UMBI does not allow or disallow for this adjustment. By copy of this letter, DWQ
will allow the option for the performance bond to be lowered on a case by case basis and only with
DWQ approval of the monitoring report. It shall not be expected that DWQ will grant this adjustment
with each approved monitoring report.
As always, please copy DWQ on all correspondence related to credit sales, referencing the DWQ project
number associated with the impacts for which credits are being purchased as compensatory mitigation.
In addition, please have the bank parcel's DWQ project number on all correspondence as well. DWQ
would like to receive all correspondence related to credit sales by email at katie.merritt(a,ncdenr.?),'ov.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supervisor
Wetlands, Buffers, Stormwater, Compliance and
Permitting Unit (WBSCP)
KAH/km
cc: File Copy (Katie Merritt)
Kelly Williams, NC EEP
File: 10-040 8_EBX_Rudolph_CreditRelease3 . docx