Credit Release Task 5

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
S. DANIEL SMITH
Director
Brad Breslow
EBX Neuse 1, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
(via electronic mail: bbreslowLres.us )
NORTH CAROLINA
Environmental Quality
December 15, 2021
DWR Project #: 2016-0979v2
Johnston County
Re: RES Poplar Creek Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument
(UMBI)
Poplar Creek Bank Parcel Credit Release — Task 5
Dear Mr. Breslow:
On October 12, 2021, the Division of Water Resources (DWR) received a Year 2 Monitoring Report
from Resource Environmental Solutions, LLC (RES) on behalf of EBX-Neuse 1, LLC (EBX), for the
Poplar Creek site. Overall, vegetation conditions look satisfactory, cattle exclusion fencing is in
good condition and no encroachment within the conservation easement areas was observed. Despite
replanting efforts in 2021, poor stem density is still noted as a problem and was observed by DWR
staff onsite along the lower portion of YB2-A and areas in and around Plot 4. EBX is proposing to
replant with containerized trees in Winter 2022 and shall provide written notification with photo
documentation to confirm planting efforts proposed are completed successfully.
DWR received a bond rider for the performance bond (#K15481055) in the amount of $100,000
issued to EBX from Federal Insurance Company, to cover monitoring and maintenance at the subject
site. The term of this bond applies beginning December 31, 2021 and ends December 31, 2022.
Future credit releases will be dependent on both the renewal of this performance bond and the annual
monitoring reports.
In accordance with the UMBI, signed on January 16, 2019, and the Bank Parcel Development Plan
approved on February 1, 2019, the following Project Milestones have been met and the
corresponding credits shall be released:
Task/Milestones Credit
5) Monitoring Report #2: Approved by the DWR 10%
TOTAL: 10%
D �North Carolina Department of Environmental Quality I Division of Water Resources
>
512 North Salisbury Street 1 1617 Mail Service Center I Raleigh, North Carolina 27699-1617
NORTH CAROLINA
o,wrb.M.1EMI.—MI OWRY /"S 919.707.9000

Poplar Creek Site
EBX
December 15, 2021
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the Poplar Creek site. Therefore, the following credits are being released and are available to sell:
10% of the Nitrogen nutrient offset credits (0.10 x 1,454.73 lbs-N=145.471bs-N) are
available to sell.
10% of the Neuse riparian buffer restoration credits (0.10 x 93,766 ft2 = 9,376.60 ft2)
are available to sell.
10% of the Neuse riparian buffer enhancement credits (0.10 x 76,454.50 ft2 = 7,645.45 ft2)
and 10% of the Neuse riparian buffer preservation credits (0.10 x 8,220.50 ft2 = 822.05 ft2)
are available to sell.
Neuse buffer Preservation and Enhancement credits should be depicted on the same credit ledger for
this Site.
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Neuse River Basin excluding the Falls Lake Watershed pursuant to 15A NCAC
02B .0703, which became effective on April 1, 2020. Additionally, the riparian buffer credits
must be used for impacts in the Neuse River Basin in accordance with guidelines in the
Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295, which became effective on
November 1, 2015.
Please feel free to call [phone] if you have any questions regarding this correspondence.
cc:File Copy (DWR)
Caitlan Parker (EBX) — via electronic mail
Sincerely,
DocuSigned Eby:
V*
A43C72700BD543E...
Katie Merritt
401 & Buffer Permitting Branch
Page 2 of 2

From: Merritt, Katie
To: Baker. Caroline D
Subject: FW: Credit Release - Poplar Creek
Date: Wednesday, December 15, 2021 4:59:01 PM
Attachments: Poplar Release Task 5-2022.docx.pdf
From: Merritt, Katie
Sent: Wednesday, December 15, 2021 4:56 PM
To: Brad Breslow <[e-mail]>
Cc: Katie Webber <[e-mail]>; Caroline Irvin <[e-mail]>
Subject: Credit Release - Poplar Creek
Hey Brad,
Please see your copy of the credit release letter for the Poplar Creek site. Please have your
credit ledgers updated accordingly.
Thank you for your patience
Katie