20200047 Ver 2_Credit Release Task 1,2_20210910

ROY COOPER.
Governor
ELIZABETH S. BISER
Secretary
S. DANIEL SMITH
Director
NORTH CAROLINA
Environmental Quality
September 10, 2021
Mike Hermann DWR Project #: 2020-0047v2
Watershed Investments NC, LLC Orange County
1630 Weatherford Circle
Raleigh, NC 27604
(via electronic mail: [e-mail] )
Re: Banished Bull Mitigation Banking Instrument (MBI)
Banished Bull Bank Parcel Credit Release — Tasks 1,2
Dear Mr. Hermann:
On November 11, 2020, the Division of Water Resources (DWR) approved a Bank Parcel
Development Package (BPDP) for the above -referenced site under the terms and conditions of the
Watershed Investments NC, LLC (WINC) Banished Bull Mitigation Banking Instrument (MBI) to
establish a nutrient offset and buffer mitigation bank. On June 24, 2021, the DWR received a
recorded conservation easement and corresponding plat for the subject site. Additionally, WINC
provided confirmation that the conservation easement for the subject site has been successfully
assigned to Unique Places to Save (UPS). UPS is a 501(c)(3) non-profit corporation and has been
approved by DWR as a long-term steward for this mitigation bank
On June 24, 2021, the DWR received an As -Built Report from WINC documenting that the subject
site had been constructed in its entirety and monitoring plots had been installed. On August 12,
2021, Katie Merritt with DWR, with assistance from staff with WINC, inspected the site and
confirmed that most the subject site had been completely planted, all monitoring plots were installed
and cattle exclusion fencing had been erected. Additionally, conservation easement placards had
been installed along the entire easement boundary. On August 16, 2021, Ms. Merritt requested
additional information in order to confirm site completion had been fully implemented according to
the approved BPDP. On August 19, 2021, Axiom Environmental provided Ms. Merritt with the
information requested on behalf of WINC.
According to the As -Built survey submitted with the As -Built Report, there are slight adjustments in
the total amounts of buffer mitigation credits and nutrient offset credits as compared to the approved
BPDP. Therefore, DWR will use the As -Built survey for this credit release. The subject site has
generated 212,901 ft2 of buffer restoration credits and 142,384 ft2 (7,429.793 lbs-nitrogen, 478.536
lbs-phosphorus) of nutrient offset credits. The As -Built report and corresponding survey are still
under review by DWR; therefore, credit amounts may be adjusted if the As -Built report is erroneous.
In accordance with the MBI, signed on November 17, 2020, the following Project Milestones have
been met and the corresponding credits shall be released:
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NORTH CARDONA `
oeperteent of Fa m...Mal OUN
North Carolina Department of Environmental Quality j Division of Water Resources
512 North Salisbury Street 11617 Mail Service Center I Raleigh, North Carolina 27699-1617
919.707.9000

Banished Bull Site
Watershed Investments NC
September 10, 2021
Task/Milestones Credit
1) MBI and BPDP approved by DWR, Conservation Easement Recorded & 25%
Assigned to an approved land trust or stewardship, financial assurance posted
2) Site Earthwork, Planting and Installation of Monitoring 20%
Devices Completed
TOTAL: 45%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and therefore, 45% of the Neuse buffer Restoration credits (0.45 x
212,901 ft2 = 95,805.45 ft2) and 45% of the Nitrogen nutrient offset credits (0.45 x 7,429.793 lb-N =
3,343.407 lb-N) and 45% of the Phosphorus nutrient offset credits (0.45 x 478.536 lb-P = 215.341
lb-P) are now available to sell.
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Upper and Lower Falls Watersheds within the Neuse River Basin pursuant to
15A NCAC 02B .0703 which became effective on April 1, 2020. Additionally, the riparian
buffer credits must be used for authorized impacts in the Neuse River Basin according to
guidelines in the Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295, which became
effective on November 1, 2015.
Please use the Credit Ledger Templates provided in the approved MBI to track and report credit
availability for the Banished Bull Mitigation Bank. Upon receiving this correspondence, please
submit three (3) credit ledgers to DWR reflecting the available credits released for each mitigation
type (Buffer Restoration, Nitrogen Nutrient Offset, Phosphorus Nutrient Offset).
Please feel free to call me at [phone] if you have any questions regarding this
correspondence.
cc:File Copy (Katie Merritt)
Sincerely,
DocuSigned by:_ - - :
1 \A �
A43C72700BD543E...
Katie Merritt
401 & Buffer Permitting Branch
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