20150636 Ver 1_Final Credit Release & Closeout – Neville Phase I_20221108

Strickland, Bev
From: Merritt, Katie
Sent: Tuesday, November 8, 2022 5:07 PM
To: Baker, Caroline D
Subject: FW: Final Credit Release - Neville Phase I
Attachments: Neville Phase I FINAL Closeout Draft.docx.pdf
File email thread below with the attachment. Title the file "Final Credit Release & Closeout — Neville Phase I"
From: Merritt, Katie
Sent: Tuesday, November 8, 2022 5:06 PM
To: mherrmann <[e-mail]>
Cc: Pjetraj, Michael <[e-mail]>
Subject: Final Credit Release - Neville Phase I
Hey Mike,
Your final credit release letter for the Neville Farm Phase I site is attached. Please forward this information to your
contact with Unique Places to Save and make sure to CC me on that correspondence.
Thank you for your patience,
Katie
Katie Merritt
Nutrient Offset & Buffer Banking Coordinator
401 & Buffer Permitting Unit
North Carolina Department of Environmental Quality
Office: 919-707-3637
Work Cell: 919-500-0683
Website: https://deq.nc.gov/about/divisions/water-resources/water-quality-permitting/401-buffer-permitting-branch
512 N. Salisbury Street, Raleigh, NC 27620
1617 Mail Service Center, Raleigh, NC 27699-1617
Email correspondence to and from this address is subject to the
North Carolina Public Records Law and may be disclosed to third parties.
1

DocuSign Envelope ID: 3C4E6E86-EED0-4F91-ADFD-D6AB22ECC833
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
Mike Hermann
Watershed Investments NC, LLC
1630 Weatherford Circle
Raleigh, NC 27604
NORTH CAROLINA
Environmental Quality
November 8, 2022
DWQ Project #: 2015-0636
Orange County
Re: Neville Farms Mitigation Bank Instrument (MBI)
Neville Farms Phase I Bank Parcel Credit Release — Task 9 FINAL RELEASE &
MONITORING CLOSEOUT
Dear Mr. Hermann:
On September 29, 2022, the Division of Water Resources (DWR) received a Year 6 Monitoring
Report from Watershed Investments NC, LLC (WINC) for Phase I and Phase II sites of the Neville
Farms Mitigation Site. Vegetation data for Phase I was submitted with the report and indicated all
monitoring plots met the final performance criteria. Additionally, stem height data submitted with
the report for Phase I was satisfactory with no encroachment within the conservation easement
observed. Based on the review of the data submitted with the Year 6 Monitoring Report along with
onsite evaluations performed in previous monitoring years, Katie Merritt with the DWR, supports
closing out the Phase I site for any further monitoring and maintenance of the riparian vegetation and
conservation easement. According to DWR files, the Grantee of the Phase I site conservation
easement is Unique Places to Save (UPS).
By copy of this letter, the monitoring requirements at the subject site have been met and DWR is
releasing WINC from its financial assurance obligations under Performance Bond # CE00155800021
with Philadelphia Indemnity Insurance Company.
According to the MBI signed on January 7, 2016, the following Project Milestones for Phase I have
been fully met, and the corresponding credits shall be released:
Task/Milestones Credit
9) Monitoring Report #5: Approved by the DWR and final site visit by DWR 5%
has been conducted (final)
GDE
NORTH C OLI JA '
omm mr� ep..of o�.i
North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 11611 Mail Service Center I Raleigh, North Carolina 27699-1611
919.707.9000

DocuSign Envelope ID: 3C4E6E86-EED0-4F91-ADFD-D6AB22ECC833
Neville Farms Phase I
Watershed Investments NC, LLC
November 8, 2022
By copy of this correspondence, DWR confirms that you have fully satisfied the above requirements
for the above -referenced tract. Therefore, 5% of your Jordan Lake riparian buffer Preservation
credits (0.05 x 1,742.4 ft2 = 87.12 ft2) are now available for sale. Additionally, 5% of your
generated nitrogen nutrient offset credits (0.05 x 8,113.03 lb-N = 405.65 lb-N) are now available to
sell. Finally, 5% of your generated phosphorus credits (0.05 x 537.85 lb-P = 26.89 lb-P) are now
available to sell. Generated credits are credits that have not been applied to the appropriate delivery
factor.
The delivery factors applied to this bank due to its location in the 14-digit HUC 03030002060070 are
89% for nitrogen and 79% for phosphorous. Therefore, the total amounts of nutrient offset credits
for this site after application of delivery factors are 7,220.59 lb-N delivered and 424.90 lb-P
delivered. By copy of this correspondence, 5% of your delivered nitrogen offset credits (0.05 x
7,220.59 lb-N = 361.03 lb-N) are now available to sell. Additionally, 5% of your delivered
phosphorus credits (0.05 x 424.90 lbs-P = 21.25 lbs-P) are now available to sell. Please update your
credit ledgers accordingly.
With this correspondence, 100% of the site's approved buffer mitigation and nutrient offset credits
have been released according to the approved credit release schedule in the Neville Farms MBI.
Please note that only the delivered nutrient offset credits can be sold from this bank and must
be used for authorized impacts in the Upper New Hope Sub -watershed in accordance with 15A
NCAC 02B .0703. Additionally, the riparian buffer credits must be used for authorized
impacts in the Upper New Hope Sub -watershed according to guidelines in the Consolidated
Buffer Mitigation Rule, 15A NCAC 02B .0295, which became effective on November 1, 2015.
Buffer Preservation credits cannot be converted into nutrient offset credits.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
Sincerely,
DocuSigned by:
M;r�P Pyj
32BDA3BFE0074C5...
Michael Pjetraj, Acting Supervisor
401 and Buffer Permitting Branch
MP/km
cc: File Copy (Katie Merritt)
Michael Scisco — Unique Places to Save ([e-mail] )
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