20110720 Ver 2_Credit Release 1_20121002

A i
NCDENR
North Carolina Department of Environment and Natural Resources
Division of Water Quality
Beverly Eaves Perdue Charles Wakild, P E Dee Freeman
Governor Director Secretary
November 26, 2012
Mr. Thomas L. Rinker
Environmental Banc & Exchange, LLC
10055 Red Run Blvd., Suite 130
Owings Mills, MD 21117 -5822
DWQ Project #: 2011 -0720 v2
Orange County
Re: Neuse River Basin Umbrella Mitigation Banking Instrument (UMBI)
Cedar Grove Bank Credit Release #1
Dear Mr. Ham:
On October 2, 2012, the Division of Water Quality (DWQ) approved a Bank Parcel Development
Package (BPDP) for the Cedar Grove Bank Parcel. On November 20, 2012, DWQ received a
conservation easement for the subject site and a performance bond to cover performance and
construction costs on the subject site.
According to the UMBI signed on February 10, 2012, the following Project Milestones have been met,
and the corresponding credits shall be released
Task/Milestones Credit
1) Approval of BPDP, Conservation Easement Recorded and financial 20%
assurance, posted
By copy of this correspondence, DWQ confirms that you have satisfied the above requirements for the
above - referenced tract and 20% of your Neuse riparian buffer credits (0.2 x 662,112 ft' = 132,422.4 ft')
are now available for sale. Additionally, 20% of your nitrogen nutrient offset credits (0.2 x 62,417.13
lb -N = 12,483.43 lb -N) and 20% of your phosphorous nutrient offset credits (0.2 x 4,020.151b -P =
804.03 lb -P) are now available for sale.
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Neuse River Basin which includes only the Upper and Lower Falls Watersheds as
defined in 15A NCAC 02B .0276. Additionally, the riparian buffer credits must be used for
impacts in the Neuse River Basin according to guidelines in 15A NCAC 02B .0242.
Please use the attached Credit Ledger Template to track and report credit availability for the Cedar
Grove Bank. As always, please copy DWQ on all correspondence related to credit sales.
Wetlands, Buffers, Stormwater Compliance & Permitting Unit
1650 Mall Service Center, Raleigh, North Carolina 27699 -1650
Location Archdale Bldg , 512 N Salisbury St, Raleigh, NC 27604
Phone- 919 -807 -63001 FAX 919 - 807 -6494
Internet http //portal ncdenr org /web /wq /swp /ws /webscape
An Equal Opportunity 1 Affirmative Action Employer
NorthCarolina
AdAmally

Environmental Banc & Exchange, LLC
Page 2 of 2
November 26, 2012
Please feel free to call Katie Merritt at (919) 807 -6371 if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supervisor
Wetlands, Buffers, Stormwater, Compliance and
Permitting Unit
KAH/km
cc: File Copy (Katie Merritt)
Tommy Cousins - Environmental Banc & Exchange, LLC; 909 Capability Drive, Suite 3100
Raleigh, NC 27606