20210306 Ver 2_Credit Release Task 1 - ThunderSwampII_20220519

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARb E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
May 19, 2022
Environmental Banc & Exchange, LLC DWR Project #: 2021-0306v2
Attn: Brad Breslow Wayne County
(via electronic mail: bbreslowgres.us )
Re: RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
Thunder Swamp Phase II Bank Parcel Credit Release — Task I
Dear Mr. Breslow,
On April 25, 2022, 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 Environmental
Banc & Exchange, LLC (EBX) RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
to establish a nutrient offset and buffer mitigation bank. On February 25, 2022, DWR approved the
Thunder Swamp DMS Full Delivery Mitigation Plan (DMS ID# 100181). On May 9, 2022, DWR
received a recorded conservation easement and corresponding plat for the subject site.
Lastly, DWR received a performance bond (#9393780) issued to EBX from Fidelity and Deposit
Company of Maryland, in the amount of $150,000, to cover performance obligations for the
construction of the subject site. The term of this bond is from May 3, 2022 through May 3, 2023.
In accordance with the UMBI, signed on March 30, 2022, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones
Credit
1) Instrument and BPDP Approved by DWR, Conservation Easement Recorded, 15%
Financial Assurance Posted, Thunder Swamp DMS Full Delivery Mitigation
Plan approved by DWR
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and the following credits are released:
• 15% of the Neuse buffer Restoration credits (0.15 x 349,569.817 ft2 = 52,435.473 ft2) are
now available to sell.
• 15% of the Neuse buffer Enhancement credits (0.15 x 15,409.014 ft2 = 2,311.352 ft2) are
now available to sell
• 15% of the Neuse buffer Preservation credits (0.15 x 13,337.300 ft2 = 2,000.595 ft2) are now
available to sell
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
NOR1H CAROL Na 919.707.9000

Thunder Swamp Phase II Site
Wildlands
May 19, 2022
• 15% of the Nitrogen nutrient offset credits (0.15 x 25,031.596 lb-N = 3,754.739 lb-N) 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 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 use the Credit Ledger Templates provided in the approved UMBI to track and report credit
availability for the Thunder Swamp Phase II Mitigation Bank. Upon receiving this correspondence,
please submit two (3) credit ledgers to DWR reflecting the available credits released for each
mitigation type (Buffer Restoration w/ Enhancement, Buffer Preservation, Nitrogen Nutrient Offset).
Please feel free to call me at [phone] if you have any questions regarding this
correspondence.
Sincerely,
w' DoocuuSiigned1Aby_:
A43C72700BD543E...
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (Katie Merritt)
Jason Murnock - EBX (via electronic mail: jmurnockgres.us )
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