Credit Release Task 4 - Wolf King.docx

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARb E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
January 19, 2023
Jamey Mceachran DWR Project #: 2020-1149v2
Environmental Banc & Exchange, LLC Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2021 Neuse Umbrella Mitigation Banking Instrument (UMBI)
Wolf King Bank Parcel Credit Release — Task 4
Dear Ms. Mceachran,
On November 10, 2022, the Division of Water Resources (DWR) received a Year 1 Monitoring
Report from Environmental Banc & Exchange, LLC (EBX) for the Wolf King site. Overall, site
conditions appear to look good, performance standards for vegetation were met and no encroachment
within the conservation easement areas was noted.
DWR received a bond rider for the performance bond (#9393788) issued to EBX from Fidelity and
Deposit Company of Maryland, in the amount of $100,000, to cover monitoring and maintenance at
the subject site. The term of this bond has been extended through December 31, 2023. Future credit
releases will be dependent on both the renewal of this performance bond and the annual monitoring
reports. By copy of this correspondence, DWR approves a twenty percent (20%) reduction in the
current bond amount, reducing the required bond amount to $80,000.
In accordance with the UMBI, signed on November 30, 2021, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones Credit
4) Monitoring Report # 1: Approved by the DWR & financial assurance renewed 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced site and the following credits are released to sell:
• 10% of the Neuse buffer Restoration credits (0.10 x 12,344 ft2 = 1,234.400 ft2)
• 10% of the Neuse buffer Preservation credits (0.10 x 267.400 ft2 = 26.74 ft2)
• 10% of the Nitrogen nutrient offset credits (0.10 x 17,856.558 lb-N = 1,785.656 lb-N)
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

Wolf King Site
EBX
January 19, 2023
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 update all credit ledgers accordingly upon receiving this correspondence.
Please feel free to call me at [phone] if you have any questions regarding this
correspondence.
cc:File Copy (Katie Merritt)
Travis Cooke (EBX) — via electronic mail
Sincerely,
DocuSignedNAby::
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A43C72700BD543E...
Katie Merritt
401 & Buffer Permitting Branch
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