Credit Release Task 2- Shady Grove.docx

DocuSign Envelope ID: 7B2BF8BC-5BEA-45A8-8CA6-19A78C42E570
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
August 18, 2023
Environmental Banc & Exchange, LLC DWR Project #: 2020-109lv2
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2021 Neuse Umbrella Mitigation Banking Instrument (UMBI)
Shady Grove Bank Parcel Credit Release — Task 2
Dear Ms. Mceachran,
On June 12, 2023, the Division of Water Resources (DWR) received documentation from
Environmental Banc & Exchange, LLC (EBX) that the Shady Grove site had been planted and
constructed in its entirety and monitoring plots had been installed. On June 26, 2023, staff with
DWR, with assistance from staff with EBX, inspected the site and confirmed that the subject site had
been adequately planted and that all monitoring plots were installed. Additionally, the conservation
easement boundary for the site was adequately marked.
On May 3, 2023, DWR received a performance bond (#612402539) 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 will remain in effect until February 22, 2024.
On June 12, 2023, DWR received a draft final As -Built Survey from EBX showing minor differences
in riparian restoration and preservation areas than what was proposed in the approved BPDP. EBX
requested that DWR use the draft As -Built Survey which depicts a more accurate representation of
the proposed riparian restoration and preservation areas for nutrient offset credits and riparian
buffer credits than the approved BPDP. Based on the As -Built Survey the Site has generated 563,359
ft2 (28,942.848 lbs-Nitrogen) of nutrient offset credits, 29, 707 ft2 of buffer restoration credits and
1, 980.400 ft2 of buffer Preservation credits.
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
2) All riparian site earthwork & mitigation activities, planting and installation 20%
of monitoring devices completed, easement boundaries adequately marked,
all applicable permits obtained, site visit performed by DWR
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: 7B2BF8BC-5BEA-45A8-8CA6-19A78C42E570
Shady Grove Site
EBX
August 18, 2023
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 Neuse buffer Restoration credits (0.20 x 29,707 ft2 = 5,941.400 ft2)
• 20% of the Neuse buffer Preservation credits (0.20 x 1,980.400 ft2 = 396.08 ft2)
• 20% of the Nitrogen nutrient offset credits (0.20 x 28,942.848 lb-N = 5,788.567 lb-N)
Please note that this release of credits for this site reflects those provided in the draft As -Built Survey
provided by EBX on June 12, 2023. This As -Built Survey has not been reviewed in its entirety, but
credits appear to be compliant with the approved BPDP. Credits will be adjusted accordingly if it is
determined that the As -Built Survey, along with the corresponding As -Built Report, are deficient in
detail or are non -compliant during DWR review.
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 feel free to contact Katie Merritt ( katie.merrittkdeq.nc.gov ) if you have any questions
regarding this correspondence.
cc:File Copy (Blake Hartshorn)
EBX — Travis Cooke (via electronic mail)
Sincerely,
D�ocuu'S,ig-ned,by:
1�/M/UL C7V SS
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
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