20201384 Ver1_Credit Release Task 1,7 - Bobs Branch.docx

DocuSign Envelope ID: 82323759-5303-4D52-9F93-A50F18E71DCE
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
Jamey McEachran
Environmental Banc & Exchange, LLC
(via electronic mail: jmceachran&res.us )
NORTH CAROLINA
Environmental Quality
September 11, 2023
Re: RES Bobs Branch Mitigation Banking Instrument (MBI)
Bobs Branch Bank Parcel Credit Release — Tasks 1 & 7
Dear Ms. McEachran:
DWR Project #: 2020-1384vl
Randolph County
On March 15, 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) Bobs Branch Mitigation Banking Instrument (MBI) to establish a
buffer mitigation bank. DWR received a performance bond (#612402585) 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 ends August 31, 2024.
Lastly, on September 6, 2023, the DWR received a recorded conservation easement and
corresponding plat for the subject site. EBX provided confirmation that the conservation easement
for the subject site has been successfully assigned to North Caroline Wildlife Habitat Foundation
(NCWHF). NCWHF 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 March 15, 2023, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones Credit
1) UMBI and BPDP Approved by DWR, Conservation Easement Recorded, 20%
& Financial Assurance Posted
7) Item B (1) of Section X in the UMBI (assign the easement 5%
to stewardship) has been completed and approved by DWR
TOTAL: 25%
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: 82323759-5303-4D52-9F93-A50F18E71DCE
Bobs Branch Site
EBX
September 11, 2023
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and therefore, the following credits are being released and are now
available to sell:
• 25% of the Neuse buffer Restoration credits (0.25 x 432,971.106 ft2=108,242.776 ft2)
• 25% of the Neuse buffer Preservation credits (0.25 x 626.091 ft2=156.523 ft2)
Please note that the riparian buffer credits must be used for impacts in the Randleman Lake
Watershed according to 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 MBI to track and report credit
availability for the Bobs Branch Mitigation Bank. Upon receiving this correspondence, please submit
one (1) credit ledger to DWR reflecting the available credits being released.
Please feel free to contact Katie Merritt at katie.merritt(a_�,deq.nc. og_v if you have any questions
regarding this correspondence.
cc:DWR File Copy (Blake Hartshorn)
Travis Cooke (EBX) — via electronic mail
Sincerely,
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Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
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