Credit Release Task 1

DocuSign Envelope ID: 886B03C4-CD84-4D83-998C-71 BAB43706AB
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARb E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
August 18, 2023
Environmental Banc & Exchange, LLC DWR Project #: 2021-0536
Attn: Jamey McEachran Alamance County
(via electronic mail:: [e-mail] )
Re: RES Tobacco Road Mitigation Banking Instrument (MBI)
Tobacco Road Bank Parcel Credit Release — Task I
Dear Ms. McEachran:
On July 18, 2023, the Division of Water Resources (DWR) approved a Buffer Mitigation and
Nutrient Offset Plan (Plan) for the above -referenced site under the terms and conditions of the RES
Tobacco Road Mitigation Banking Instrument (MBI) by Environmental Banc & Exchange, LLC
(EBX) to establish a nutrient offset and riparian buffer mitigation bank. On May 17, 2023, the US
Army Corps of Engineers issued a Notice of Intent to Approve the Tobacco Road Stream Mitigation
Plan.
DWR received a performance bond (#612402577) issued to Environmental Banc & Exchange, LLC
from United States Fire Insurance Company, in the amount of $150,000, to cover performance
obligations for the construction of the subject site. The terms of this bond end July 27, 2024.
On August 18, 2023, the DWR received a recorded conservation easement and corresponding plat for
the subject site. EBX provided confirmation that the conservation easements for the subject site have
been successfully assigned to Unique Places to Save (UPS). UPS is a 501(c)(3) non-profit
corporation and has been approved by DWR as a long-term steward for this mitigation bank.
In accordance with the MBI, signed on July 13, 2023, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones
Credit
1) Instrument and Buffer Mitigation & Nutrient Offset Plan approved by DWR, 25%
Draft Stream/Wetland Mitigation Plan Approved by the IRT, Conservation
Easement recorded and assigned according to Item B (1) of Section X in the
Instrument, and financial assurance posted
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

DocuSign Envelope ID: 886B03C4-CD84-4D83-998C-71 BAB43706AB
Tobacco Road 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 being released and are now available to sell:
• 25% of the Jordan Lake riparian buffer Restoration credits
(025 x 363,900 ft2 = 90,975 ft2)
• 25% of the Jordan Lake riparian buffer Enhancement and Preservation credits
(025 x 88,274.994 ft2 = 22,068.749 ft2)
• 25% of the delivered nitrogen offset credits (025 x 159.789 lb-N = 39.947 lb-N)
• 25% of the delivered phosphorus offset credits (025 x 9.323 = 2.331 lb-P)
Please note that the delivered nutrient offset credits must be used for impacts in the Haw River
Arm of Jordan Lake within the Cape Fear River Basin according to 15A NCAC 02B .0703.
Additionally, riparian buffer credits can only be used to offset impacts located in the Haw
River Sub Watershed of Jordan Lake according to 15A NCAC 02B .0295, which became
effective on November 1, 2015.
Please use the Jordan Lake Credit Ledger Templates provided in the approved MBI to track and
report credit availability for the Tobacco Road Mitigation Bank. Upon receiving this correspondence,
please submit our credit ledgers to DWR reflecting the available credits released for each mitigation
type as follows: Buffer Restoration, Buffer Enhancement w/ Preservation, Nitrogen Nutrient Offset,
Phosphorus Nutrient Offset.
Please feel free to contact Katie Merritt at katie.merrittgdeq,nc.gov if you have any questions
regarding this correspondence.
cc:File Copy (Blake Hartshorn)
Travis Cooke (EBX) — via electronic mail
Sincerely,
Docu'S.ign1ed ,by:
St�p� c, GbSS
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
Page 2 of 2