20201937 Ver 3_Credit Release Task 3,4

DocuSign Envelope ID:43AE502A-COAA-45OA-8886-48077OBDA1F3
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
July 20, 2023
Barrett Jenkins DWR ID# 2020-19370
Restoration Systems, LLC Edgecombe County
1101 Haynes Street, Suite 211
Raleigh, NC 27605
(via electronic mail: bienkinsgrestorationsystems.com)
Re: Dead Tree Umbrella Nutrient Offset Banking Instrument (NOBI)
Dead Tree B Bank Parcel Credit Release — Tasks 3 & 4
Dear Mr. Jenkins:
On September 19, 2022, the Division of Water Resources (DWR) received an As -Built Report from
Restoration Systems, LLC (RS) for the Dead Tree B Bank Parcel site. DWR provided comments to
RS that were addressed in the revised As -Built Report submitted by RS to DWR on May 4, 2023.
According to the As -Built survey and corresponding project credits table submitted with the revised
As -Built Report, there are slight adjustments in the total amounts of Nutrient Offset credits as
compared to the approved Bank Parcel Development Package. The subject site has generated
5,406,912 ft2 (281,063.289 lbs-nitrogen and 18,102.649 lbs-phosphorus) of nutrient offset credits.
On December 26, 2022, the Division of Water Resources (DWR) received a Year 1 Monitoring
Report from RS for the site. DWR approved the report on May 19, 2023.
DWR received a performance bond (#107688086) issued to RS from Travelers Casualty and Surety
Company of America, in the amount of $100,000, to cover monitoring and maintenance at the
subject site. The term of this bond ended with the approval of the Year 1 Monitoring Report by
DWR. DWR received a new performance bond (K41730055) issued to RS from Federal Insurance
Company, in the amount of $80,000. This bond replaces the previous performance bond
(107688086) referenced above. The term of this bond ends with the approval of the Year 2
Monitoring Report by DWR. Future credit releases will be dependent on both the renewal of this
performance bond and the annual monitoring reports.
In accordance with the NOBI, signed on November 10, 2021, the following Project Milestones have
been met and the corresponding credits shall be released:
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

DocuSign Envelope ID: 43AE502A-COAA-45OA-8886-48077OBDA1 F3 Dead Tree B Site
Restoration Systems, LLC
July 20, 2023
Task/Milestones Credit
3) Monitoring Financial Assurance Posted (not needed) and Approval of 10%
As -Built Report
4) Monitoring Report #1 approved by the DWR & financial assurance renewed 10%
TOTAL 20%
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 to sell:
• 20% of the Nitrogen nutrient offset credits (0.20 x 281,063.289 lbs-N = 56,212.658 lbs-N)
minus 179.044 lbs-N yields 56,033.614 lb-N
• 20% of the Phosphorus nutrient offset credits (0.20 x 18,102.649 lbs-P = 3,620.530 lbs-P)
minus 11.531 lbs-P yields 3,608.999 lbs-P
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020102 of the Tar -Pamlico River Basin pursuant to 15A NCAC 02B .0703, which became
effective on April 1, 2020.
Please feel free to contact Katie Merritt at katie.merritt(c-r�,deq.nc.goy if you have any questions
regarding this correspondence.
Sincerely,
E
DoculS.ig-n'ed 'by:t�p(" CIfJSS
755ABFOCD80B428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker (Davey/RS) — via electronic mail
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