20150636 Ver 1_Credit Release Task 8 -phase I_20210223

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
S. DANI£L SMITH
Director
NORTH CAROLINA
Environmental Quality
February 23, 2021
DWQ Project #: 2015-0636
Orange County
Mike Hermann
Watershed Investments NC, LLC
1630 Weatherford Circle
Raleigh, NC 27604
Re: Neville Farms Mitigation Bank Instrument (MBI)
Neville Farms Phase I Bank Parcel Credit Release — Task 8
Dear Mr. Hermann:
On November 2, 2020, the Division of Water Resources (DWR) received a Year 4 Monitoring
Report from Watershed Investments NC, LLC (WINO) for Phase I and Phase II of the Neville Farms
Mitigation Site. On February 15, 2021, DWR received confirmation that the Adaptive Management
Plan for Phase I and Phase II had been fully implemented. DWR will assess vegetation conditions
after the submittal of the Year 5 monitoring report later this year to determine if additional
monitoring will be required.
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, 2022.
According to the MBI signed on January 7, 2016, the following Project Milestones for Phase I have
been partially met, and the corresponding credits shall be released:
Task/Milestones Credit
8) Monitoring Report #4: Approved by the DWR 5%
By copy of this correspondence, DWR confirms that you have fully satisfied the above requirements
for the above -referenced tract. Therefore, 5% of your Jordan Lake riparian buffer Preservation
credits (0.05 x 1,742.4 ft2 = 87.12 f12) are now available for sale. Additionally, 5% of your
generated nitrogen nutrient offset credits (0.05 x 8,113.03 lb-N = 405.65 lb-N) are now available to
sell. Finally, 5% of your generated phosphorus credits (0.05 x 537.85 lb-P = 26.89 lb-P) are now
available to sell. Generated credits are credits that have not been applied to the appropriate delivery
factor.
The delivery factors applied to this bank due to its location in the 14-digit HUC 03030002060070 are
89% for nitrogen and 79% for phosphorous. Therefore, the total amounts of nutrient offset credits
for this site after application of delivery factors are 7,220.59 lb-N delivered and 424.90 lb-P
delivered. By copy of this correspondence, 5% of your delivered nitrogen offset credits (0.05 x
N11H fH (:A�i(1!.INA �
D E Q 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
0­O'torenwm­talQ"I 919,707.9000

Neville Farms
February 23, 2021
7,220.59 lb-N = 361.03 lb-N) are now available to sell. Additionally, 5% of your delivered
phosphorus credits (0.05 x 424.90 lbs-P = 21.25 lbs-P) are now available to sell. Please update your
credit ledgers accordingly.
Please note that only the delivered nutrient offset credits can be sold from this bank and must
be used for authorized impacts in the Upper New Hope Sub -watershed in accordance with 15A
NCAC 02B .0703. Additionally, the riparian buffer 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.
Buffer Preservation credits cannot be converted into nutrient offset credits.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
cc: File Copy (Katie Merritt)
Sincerely,
EDoocuuSiignedd by-
A43C72700BD543E...
Katie Merritt
401 and Buffer Permitting Branch
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