20070747 Ver 1_Final Credit Release_20141104

A'4.
HCDENR
North Carolina Department of Environment and Natural Resources
Pat McCrory John E, Skvarla, III
Governor Secretary
November 4, 2014
Mr. Bob Kessler
GreenVest/Flat Swamp, LLC
4405 Dewees Ct
Raleigh, NC 27612
Re: Flat Swamp Neuse River Riparian Buffer and Nutrient Offset Mitigation Banking
Instrument (MBI)
Flat Swamp Bank Parcel Final Credit Release & Monitoring Closeout
Dear Mr. Kessler:
On November 5, 2013, the Division of Water Resources (DWR) received the Year Five Monitoring
Report, dated November 1, 2013, for the Flat Swamp Mitigation Bank in Craven County, North
Carolina. On November 5, 2013, Katie Merritt, with DWR, along with you and Scott Frederick
with Soil, Water, & Environmental Group, PLLC visited the subject site to compare vegetation
data. In addition, at the request of GreenVest/Flast Swamp, LLC (GVFS), Ms. Merritt also
evaluated the site's condition for closeout of the monitoring requirements. Ms. Merritt determined
that as a whole, the Flat Swamp Mitigation Bank was in great condition and supports closing out the
site for any further monitoring.
On November 20, 2013, Ms. Merritt requested additional information regarding the long term
steward chosen to provide perpetual protection and maintenance on the subject site. On September
22, 2014 and October 21, 2014, GVFS provided all of the information required to approve Green
Trust Alliance, Inc. as an acceptable long term steward for the Flat Swamp Mitigation Bank.
By copy of this letter, the monitoring requirements at the subject site have been met and DWR is
releasing GVFS from its financial assurance obligations.
According to the MBI, the following Project Milestone has been met, and the corresponding credits
shall be released:
Task
Credit
8) Submittal and approval of Year 5 Monitoring Report 10%
401 and Buffer Permitting Unit
1617 Mail Service Center, Raleigh, North Carolina 27699-1617
Location: 512 N. Salisbury St. Raleigh, North Carolina 27604
Phone: [phone] \ FAX: [phone]
Internet: www.ncwaterquality.org
An Equal Opportunity \ Affirmative Action Employer — Made in part by recycled paper

By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above-referenced tract and an additional 10% of your nutrient offset credits (0.1 x 763,461.95
lb-N = 76,346.2 lb-N) are now available for sale. Also, an additional 10% of your riparian buffer
credits (0.1 x 904,305.6 ft'= 90,430.56 ft2 ) are now available for sale.
A total of 100% of the available nutrient offset credits and riparian buffer credits have been
released for this site to date.
Please note that credits generated at this site must be used for impacts in HUC 03020202 of
the Neuse River Basin.
All credit sales' transactions must be provided to the DWR for review and approval until all credits
that have been released, have been sold. At the time all credits have been sold, DWR will issue a
"Bank Closure" letter.
Please feel free to contact Katie Merritt at [phone] if you have any questions regarding this
correspondence.
KAH/kym
cc:
File Copy-Katie Merritt