Credit Release Task 1

DocuSign Envelope ID: 93F36059-4C4C-45E2-8DB9-4F1 1 1525A430
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
October 5, 2023
Restoration Systems, LLC DWR ID# 2021-1037v2
Attn: John Preyer Craven County
Attn: Barrett Jenkins
(via electronic mail: [e-mail])
Re: Restoration Systems' Neuse 04 Nutrient Offset Banking Instrument (NOBI)
Saints Delight Bank Parcel Credit Release — Task 1
Dear Mr. Jenkins:
On February 24, 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
Neuse 04 Nutrient Offset Banking Instrument (NOBI) made between Restoration Systems, LLC (RS)
and DWR, to establish a nutrient offset bank. On September 23, 2023, DWR received a recorded
conservation easement and corresponding plat for the subject site.
DWR received a performance bond (#K41730158) issued to RS from Federal 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 DWR has provided a written approval of the As -
Built Report.
In accordance with the NOBI, signed on February 24, 2023, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones Credit
1) NOBI and BPDP Approved by DWR, Conservation Easement Recorded, 20%
& Financial Assurance Posted
TOTAL: 20%
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:
• 20% of the Nitrogen nutrient offset credits (0.20 x 83,821.385 lb-N = 16,764.277 lb-N)
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: 93F36059-4C4C-45E2-8DB9-4F1 1 1525A430 Saints Delight Site
Rcstoration Systems, LLC
October 5, 2023
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020204 of the Neuse River Basin pursuant to 15A NCAC 02B .0703, which became effective
on April 1, 2020.
Please use the Credit Ledger Templates provided in the approved NOBI to track and report credit
availability for the Saints Delight Mitigation Bank. Upon receiving this correspondence, please
submit one (1) credit ledger to DWR reflecting the available credits released for each mitigation type
(Nitrogen Nutrient Offset).
Please feel free to contact Katie Merritt at katie.merritt(cr�,deq.nc.gov if you have any questions
regarding this correspondence.
Sincerely,
DocuSigned by:
5�� C1(JSS
755ABFOCD806428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker — (RS/Davey — via electronic mail)
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