20140820_Credit Release Task 1_04282023

ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
April 28, 2023
Environmental Banc & Exchange, LLC DWR Project #: 2014-0820v6
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
Caraway Bluff Phase II Bank Parcel Credit Release — Task I
Dear Ms. Mceachran,
On January 27, 2023, 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 buffer mitigation and nutrient offset bank. On December 16, 2022, DWR approved the
Caraway Bluff DMS Full Delivery Mitigation Plan (DMS ID# 100186). On April 19, 2023, DWR
received a recorded conservation easement and corresponding plat for the subject site.
Lastly, DWR received a performance bond (#612402526) issued to EBX from United States Fire
Insurance Company, in the amount of $150,000, to cover performance obligations for the
construction of the subject site. The term of this bond is from February 6, 2023 through February 6,
2024.
In accordance with the UMBI, signed on April 22, 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, Caraway Bluff 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 riparian buffer restoration credits (0.15 x 256,851.038 ft2 = 38,527.656
ft2)
• 15% of the Neuse riparian buffer preservation credits (0.15 x 6,231.770 ft2 = 934.765 ft2)
• 15% of the Nitrogen nutrient offset credits (0.15 x 49,260.784 lb-N = 7,389.118 lb-N) 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
NORTH CARCLINA
919.707.9000

Caraway Bluff Phase II Site
EBX
April 28, 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 use the Credit Ledger Templates provided in the approved UMBI to track and report credit
availability for the Caraway Bluff Phase 11 Mitigation Bank. Upon receiving this correspondence,
please submit three (3) credit ledgers to DWR reflecting the available credits released for each
mitigation type (Nitrogen Nutrient Offset, Buffer Restoration, Buffer Preservation).
Please feel free to call me at [phone] if you have any questions regarding this
correspondence.
Sincerely,
Docu Signed by:
A43C72700BD543F
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (Katie Merritt)
Travis Cooke - EBX (via electronic mail: tcooke&res.us )
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