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Home My WebLink About20160393 Ver 4_Bandit Farms MBI - FINAL - 100923 - FOR SUBMITTAL_20231009 1 AGREEMENT TO ESTABLISH THE BANDIT FARMS MITIGATION BANKING INSTRUMENT IN THE UPPER NEW HOPE SUBWATERSHED FOR NUTRIENT OFFSET AND RIPARIAN BUFFER MITIGATION CREDITS PURSUANT TO THE JORDAN WATER SUPPLY NUTRIENT STRATEGY Table of Contents I. PREAMBLE ................................................................................................................................................................................. 3 II. LOCATION AND GEOGRAPHIC SERVICE AREA ................................................................................................................. 3 III. AUTHORITIES ............................................................................................................................................................................ 4 IV. ESTABLISHMENT OF BANK PARCELS .................................................................................................................................. 4 V. PRE-CONSTRUCTION DOCUMENTATION.......................................................................................................................... 6 VI. POST-CONSTRUCTION DOCUMENTATION ....................................................................................................................... 8 VII. CALCULATION OF CREDITS ................................................................................................................................................. 11 VIII. CREDIT RELEASE SCHEDULE ................................................................................................................................................ 14 IX. PROCEDURE FOR DEBITING AND CREDITING ................................................................................................................ 15 X. BANK PARCEL CLOSURE ....................................................................................................................................................... 16 XI. GENERAL PROVISIONS ......................................................................................................................................................... 17 Attachments A – Division of Water Resources Authority Document B – Jordan Credit Yields Table C – Ledger Templates D – Project Credit Table (Example) References 1. Nutrient Offset Credit Trading Rule: http://reports.oah.state.nc.us/ncac/title%2015a%20- %20environmental%20quality/chapter%2002%20- %20environmental%20management/subchapter%20b/15a%20ncac%2002b%20.0703.pdf 2. Riparian Buffer Mitigation Rule: http://reports.oah.state.nc.us/ncac/title%2015a%20- %20environmental%20quality/chapter%2002%20- %20environmental%20management/subchapter%20b/15a%20ncac%2002b%20.0295.pdf 3. NC Session Law 2019-86 “Nutrient Offset Credits”: https://ncleg.gov/EnactedLegislation/SessionLaws/HTML/2019-2020/SL2019-86.html 4. Buffer Interpretation/Clarification #2008-019 for diffuse flow: https://www.deq.nc.gov/water-quality/surface-water-protection/401/buffer-clarification- memos/diffuse-flow-buffer-mitigation-sites-buffer-clarification/download 2 5. Clarified Procedures for Calculating Buffer Mitigation Credits and Nutrient Offset Mitigation Credits (November 2019): https://edocs.deq.nc.gov/WaterResources/DocView.aspx?dbid=0&id=2582459 6. NCDWR – Methodology and Calculations for Nutrient Reduction on the Bank Parcel: https://files.nc.gov/ncdeq/Water%20Quality/Planning/NPU/Nutrient%20Offset%20Rule/Ag- Buffer-Credit.pdf 7. Jordan Water Supply Nutrient Strategy - Options for Offsetting Nutrient Loads Rule: http://reports.oah.state.nc.us/ncac/title%2015a%20- %20environmental%20quality/chapter%2002%20- %20environmental%20management/subchapter%20b/15a%20ncac%2002b%20.0273.pdf 3 I. PREAMBLE This Mitigation Bank Instrument (Instrument) regarding the entitlement, construction, and maintenance of the Bandit Farms Bank Parcel (Bank Parcel), further described in Section II, to provide Upper New Hope Subwatershed of Jordan Lake Riparian Buffer mitigation credits (Riparian Buffer Credits) and Jordan Water Supply Nutrient Strategy nutrient load reduction credits (Nutrient Offset Credits) is made and entered into by and among RestorEcology Jordan, LLC acting as the Bank Sponsor (Sponsor) and the North Carolina Department of Environmental Quality – Division of Water Resources (DWR). This Instrument is prepared in accordance with 15A NCAC 02B .0703 and the Consolidated Mitigation Rule 15A NCAC 02B .0295, which became effective on April 1, 2020 and November 1, 2015, respectively (Reference #1 and #2). The purpose of the Bank Parcel is: A. To restore, enhance, and preserve riparian vegetation along streams with the intent to improve water quality, reduce nutrient loading, attenuate flooding, and expand habitat for wildlife along Morgan Creek and its tributaries in the Upper New Hope Subwatershed of Jordan Lake. B. To convert agricultural land uses within riparian areas adjacent to perennial, intermittent, and ephemeral streams into a diverse hardwood forest, with the intent to reduce nutrient loadings associated with agricultural practices into the streams and their receiving waters. C. To provide Riparian Buffer Credits and Nutrient Offset Credits to third parties in specific areas within the Upper New Hope Subwatershed of Jordan Lake for development (both existing and proposed) or to offset NPDES-permitted wastewater nutrient sources requiring such mitigation or offset. II. LOCATION AND GEOGRAPHIC SERVICE AREA A. The Geographic Service Area (GSA) is the designated area wherein a Bank Parcel can reasonably be expected to sell Riparian Buffer Credits and/or Nutrient Offset Credits for impacts from development activities. B. The GSA for this Bank Parcel is limited to the Upper New Hope Subwatershed of Jordan Lake. The Upper New Hope Subwatershed of Jordan Lake is defined in 15A NCAC 02B .0262 as that portion of the reservoir and its drainage area upstream of S.R. 1008 (Farrington Road). C. Sale or transfer of Riparian Buffer Credits shall be limited to the Upper New Hope Subwatershed of Jordan Lake, as defined in rule 15A NCAC 02B .0262, unless otherwise authorized by the DWR or delegated local government in accordance with 15A NCAC 02B .0295. D. Sale or transfer of Nutrient Offset Credits shall be limited to the Upper New Hope Subwatershed of Jordan Lake, as defined in rule 15A NCAC 02B .0262, unless otherwise authorized by the DWR in accordance with Session Law (S.L). 2019-86. E. The following table provides details of the Bank Parcel proposed under this Instrument, which is within the Upper New Hope Subwatershed of Jordan Lake. 4 Table 1.0 – Bank Parcel Details Bank Parcel County Watershed DWR ID Project Location Named Receiving Stream Primary Land Use Bandit Farms Orange Upper New Hope Subwatershed of Jordan Lake - 03030002060070 2016- 0393v4 35°58'30.10"N 79° 8'45.89"W Morgan Creek Agriculture III. AUTHORITIES A. The Bank Parcel will be used to provide Riparian Buffer Credit and/or Nutrient Offset Credit in accordance with the requirements in the DWR Authority document referenced herein as Attachment A and attached to this instrument. B. Projects eligible for utilization of the credits are those requiring authorization under the requirements of Attachment A and any new approved North Carolina (State) statutes and rules for the Jordan Lake Nutrient Sensitive Waters Management Strategy. C. The selling of credits generated by the Bank Parcel approved under this Instrument shall be consistent with approved State statutes and rules for the Jordan Lake Nutrient Sensitive Waters Management Strategy. D. Buffer mitigation and nutrient reduction activities proposed under this Instrument and corresponding Bank Parcel Development Package (BPDP) to generate Riparian Buffer Credits and Nutrient Offset Credits shall be consistent with State statutes and rules for the Jordan Lake Nutrient Sensitive Waters Management Strategy that are in place at the time a complete BPDP is submitted to DWR. IV. ESTABLISHMENT OF BANK PARCELS A. In accordance with 15A NCAC 02B .0295 and 15A NCAC 02B .0703, DWR has provided a “Site Viability Letter” for the Bank Parcel proposed under this Instrument. The Site Viability Letter is not an approval of the site to generate Riparian Buffer Credits and Nutrient Offset Credits, but is a preliminary review of the Bank Parcel that details and confirms existing land use conditions, defines the riparian sites (Preservation, Enhancement, or Restoration), and identifies features (streams, ditches, ponds, etc.) that meet general criteria to be suitable to generate Riparian Buffer Credits and Nutrient Offset Credits. Table 2.0 below outlines when a Site Viability Letter was issued by DWR for the Bank Parcel: 5 Table 2.0 – Site Viability Letter Details B. A valid Site Viability Letter is required prior to submittal of each BPDP. The Site Viability Letter will either expire on the date listed in the table above or upon submittal of an As-Built Report to the DWR, whichever comes first. If a Site Viability Letter expires prior to submittal of a complete BPDP as described in Section V to DWR, then the Sponsor must submit a formal request to DWR for a new Site Viability Letter for that Bank Parcel. C. The Bank Parcel proposed for inclusion under this Instrument shall require a BPDP be submitted to, and approved, by the DWR prior to use of the Bank Parcel for buffer mitigation and nutrient offset purposes, or the sale or transfer of any associated credits. The contents of the BPDP are provided in Section V. D. BPDPs submitted under this instrument will be placed on public notice and made available for public commenting for 15 calendar days. E. In general, Riparian Buffer Credit may be achieved on this Bank Parcel through restoration of DWR riparian buffers as they are defined in 15A NCAC 02B. 0267 and other riparian areas as allowed per 15A NCAC 02B. 0295(n) and (o) where applicable. Riparian Buffer Credits are only attainable if the width of the riparian areas are at least 20 feet from tops of banks along streams and ephemeral channels and at least 30 feet from tops of banks along ditches when measuring perpendicular and landward from features. Riparian buffer credits are attainable to a maximum of 200 feet from tops of banks of streams and ephemeral channels and a maximum of 50 feet from tops of banks of viable ditches. The viability of features to generate Riparian Buffer Credit is provided in the Site Viability Letter for the Bank Parcel and referenced in Table 2.0 of this Instrument. F. The Bank Parcel is intended to provide Upper New Hope Subwatershed of Jordan Lake Riparian Buffer Mitigation Credits as follows: 1. Planting hardwood trees and shrubs on a Restoration Site as defined in 15A NCAC 02B .0295(b) adjacent to streams as allowed per 15A NCAC 02B .0295(n). 2. Plant hardwood trees and shrubs on a Restoration site as defined in 15A NCAC 02B .0295(b) adjacent to ephemeral channels as allowed per 15A NCAC 02B .0295(o)(7). 3. Maintaining a Preservation Site, as defined in 15A NCAC 02B .0295(b) by placing a conservation easement around riparian areas along streams as allowed per 15A NCAC 02B .0295(o)(5). 4. Performing minor bank stabilization and grading where bank stability is compromised and where erosional rills, sink holes and gullies are observed. Bank Parcel DWR On-Site Evaluation Viability Letter Received Viability Letter Expiration Date Bandit Farms September 21, 2022 December 9, 2022; amended April 12, 2023 December 9, 2024 6 5. Diffuse flow will be maintained onsite. The Buffer Interpretation/Clarification Memo #2008-019 may be applied where maintenance of diffuse flow onsite is unattainable. G. Nutrient Offset Credit on the Bank Parcel may be achieved through restoration of the riparian areas adjacent to streams where agriculture was determined by DWR to be the predominant land use. Nutrient Offset Credits are only attainable if the width of the restored riparian areas are at least 50 feet as measured perpendicular and landward from tops of banks along streams. On the Bank Parcel, the width of the riparian restoration area will begin at the top of bank or the rooted herbaceous vegetation and extend landward a minimum of 50 feet and a maximum of 200 feet on all sides of viable features. A conservation easement will be secured to include at least the stream centerline for one-sided mitigation and will extend out to a maximum of 200 feet. For two-sided mitigation, the conservation easement will include the stream channel and extend out to a maximum of 200 feet from each bank. The viability of features to generate nutrient offset credit is provided in the Site Viability Letter for the Bank Parcel and referenced in Table 2.0 of this Instrument. H. The Bank Parcel is expected to provide Nutrient Offset Credits in accordance with 15A NCAC 02B .0703 as follows: 1. Converting agricultural land uses within riparian areas to non-agricultural land uses by placing a perpetual conservation easement around riparian areas along streams and ephemeral channels in accordance with 15A NCAC 02B .0703(g). 2. Planting hardwood trees and shrubs on a Restoration Site as defined in 15A NCAC 02B .0295(b) adjacent to streams and an ephemeral channel where agriculture has been determined by the DWR to be the predominant land use. I. The total area of riparian restoration activities on the Bandit Farms Bank Parcel is expected to be approximately 17.5 acres. V. PRE-CONSTRUCTION DOCUMENTATION Bank Parcel Development Package A. The Bandit Farms Bank Parcel Development Package (BPDP) submitted under this Instrument shall be submitted to DWR for review and must be approved by DWR prior to any construction on the Bank Parcel. The BPDP must describe any changes that have occurred to the site between the date of the Site Viability Letter and the date the BPDP is submitted to DWR. The BPDP shall include detailed information consistent with the sections below concerning; 1) site location (14- digit HUC is required); 2) existing conditions with current photos; 3) proposed buffer mitigation and nutrient offset activities including a detailed vegetation plan; 4) monitoring and maintenance plans; 5) financial assurances; 6) a Project Credit Table (see Attachment D) showing associated buffer/nutrient credit calculations, which shall include credit generation, service area, and accounting as appropriate for each regulatory authority; 7) stream buffer determination letter from DWR; 8) Site Viability Letter from DWR; 9) service area figure for each mitigation type proposed under this Instrument, and 10) all pertinent information including but not limited to permitting, bank stabilization, culvert removal, installation of any utilities indirectly or directly affecting the Bank Parcel, endangered or threatened species, presence of 7 historical sites and an Environmental Data Resources (EDR) report to evaluate environmental risk associated with the land proposed for the Bank Parcel. B. The Sponsor will obtain all applicable federal, state and local documentation, permits, or authorizations needed to construct and maintain the Bank Parcel. This Instrument does not qualify as, or substitute for, such documentation, permit, or authorization. C. Any restoration activities or proposed construction within the stream channels, riparian buffers and other riparian areas on the Bank Parcel to produce Riparian Buffer Credit and/or Nutrient Offset Credit must be approved by DWR in writing prior to implementation. The failure of the Sponsor to comply with this requirement may result in a revised or reduced credit release schedule. D. Requests for deviation from the approved BPDP must be submitted to DWR in writing. Written approval from the DWR must be received prior to implementing any deviation from the approved BPDP. Property Disposition & Long-Term Management E. Prior to release of any credits, the Sponsor shall record a permanent conservation easement for the Bank Parcel at the Orange County Register of Deed’s office that is sufficient to ensure protection, operation, and maintenance of restored riparian buffers and other riparian areas for the duration specified in the approved BPDP. F. The form of the conservation easement shall be consistent with the standards employed by the State of North Carolina in the protection of restored riparian buffers and riparian areas and shall be approved by the DWR prior to the release of any credits. G. The Sponsor shall not grant additional easements, right of ways, or any other property interest in or to the Bank Parcel, without prior approval from DWR. H. The Sponsor agrees to assign the conservation easement and its interests in perpetuity to a qualified holder under NC General Statute (GS) 121- 34 et seq. and 170(h) of the Internal Revenue Code prior to the submittal of the Year 4 Monitoring Report. The holder shall be a land trust or stewardship program that will hold and enforce the conservation easement and the interests in perpetuity. The Sponsor shall choose a land trust or stewardship program that is accredited by the Land Trust Accreditation Commission and/or has been approved by DWR prior to the end of the Year 4 monitoring period. A land trust must be certified under 501(c)(3) of the Internal Revenue Code. I. In the event the Sponsor is also the owner of the underlying fee interest in the property the conveyance of the conservation easement to a land trust or stewardship fund must be arranged at the outset of the approved BPDP. Financial Assurances for Bank Development. J. Following approval of the BPDP, the Sponsor shall provide Performance/Maintenance Bonds from a surety company that is rated no less than an “A-“ as rated by A.M. Best, to construct the 8 sites according to the approved BPDP. It is the Sponsor’s responsibility to confirm that the surety company is rated no less than an “A-“ with each annual bond renewal. K. The amount of the Performance Bond shall be 100% of the estimated cost for implementation of the riparian restoration and other related activities for the construction of the Bank Parcel as described in the approved BPDP. No bond shall be less than $150,000 to cover construction costs. L. Alternatively, in lieu of posting a Performance/Maintenance Bond, the Sponsor may elect to construct the Bank Parcel prior to the first credit release. M. Once DWR has released all credits for completion of all items listed below, then the Bank Sponsor will be released from its performance obligations under the Performance/Maintenance Bond required in Item J and K of this section: 1. Instrument and BPDP Approved by DWR, Conservation Easement Recorded and Assigned according to Item B (1) of Section X in this Instrument has been completed and approved by DWR, Financial Assurance Posted; 2. All mitigation activities, including Riparian Earthwork, Planting and Installation of Monitoring Devices completed; easement boundaries adequately marked; all applicable permits obtained, and site visit performed by DWR; 3. As-Built Report as described in Section VI has been received by the DWR; and 4. DWR has submitted a written approval of the As-Built Report. N. To comply with this section, DWR must be the Obligee on all Performance/Maintenance Bonds. VI. POST-CONSTRUCTION DOCUMENTATION As-Built Report A. The Sponsor agrees to perform all necessary work, in accordance with the provisions of this Instrument and corresponding BPDP, to establish, maintain, and monitor Jordan Lake Riparian Buffers or other riparian areas until Items B(1) and (2) of Section X have been satisfied. B. Within 30 calendar days after completing the establishment of the buffer mitigation and nutrient offset areas, the Sponsor will submit written notification to DWR documenting that all buffer mitigation and nutrient offset activities have been completed. Failure to submit written notification within 30 days may result in a modified credit release schedule or a delay in the issuance of credit releases. Notification shall include all the following: 1. Short summary of activities completed as required per the approved BPDP; 2. Figures representing all riparian restoration and riparian preservation activities where applicable; 3. Figures representing location of all monitoring plots installed; 9 4. Detailed planting plan – including the type of species planted, density of species planted, and any modifications to the planting plan from what was approved in the BPDP. 5. Description of how the conservation easement boundaries were marked; and 6. Any major changes to the conservation easement boundary or to the amount of Riparian Buffer Credits and/or Nutrient Offset Credits from what was proposed in the approved BPDP. C. The Sponsor will submit an as-built plan and report for the Bank Parcel (As-Built Report) after completing the establishment of the buffer mitigation and nutrient offset areas. Each As-Built Report will be submitted to DWR and will describe any deviation from the approved BPDP and will document all the following: 1. Riparian restoration and/or preservation planting details and other construction activities that were required in the BPDP, confirmation that all boundary markers are installed, invasive species control, monitoring device locations, vegetation plot locations, and photo point locations. 2. Boundary Survey of the conservation easement area, signed and sealed by a licensed surveyor, including an inventory of the final areas for Riparian Buffer Credits and Nutrient Offset Credits in both square feet and acres. 3. As-built map of the buffer mitigation and nutrient offset areas showing where riparian activities were performed and any deviations to the Bank Parcel from what was approved in the BPDP. 4. Aerial map of the Bank Parcel showing the proposed areas for Nutrient Offset Credits and Riparian Buffer Credits that were included in the approved BPDP. Financial Assurance for Bank Parcel Monitoring and Maintenance D. After completion of the riparian activities and construction activities on the Bank Parcel, a separate Performance/Maintenance Bond will be secured for 100% of the estimated cost to implement the monitoring and maintenance plan as described in the approved BPDP and As- Built Report for the Bank Parcel. The Performance/Maintenance Bond must be from a surety company that is rated no less than an “A-“ as rated by A. M. Best, and it is the Sponsor' s responsibility to confirm the surety company is still rated no less than an “A-“ with each annual bond renewal. E. Each Performance/Maintenance Bond shall be secured each year for a minimum of five years, and until DWR has released all Riparian Buffer Credits and Nutrient Offset Credits to the Bank Sponsor. Upon DWR approval, the bond amount may be lowered each year based on the adjusted cost to complete the monitoring. No bond shall be less than $100,000 to cover monitoring and maintenance costs initially. F. Once DWR has released 100% of all credits for completion of all Bank Parcel milestones described in Table 5 of Section VIII or in the corresponding BPDP, the Bank Sponsor will be released from its performance obligations under the bond required in D and E in this section. 10 G. To comply with this section, DWR must be the Obligee on all Performance/Maintenance Bonds. Monitoring and Maintenance Reports H. The Sponsor shall monitor the Bank Parcel as described in the BPDP until such time as DWR determines that the performance standards described below have been met. The monitoring period shall be a minimum of five consecutive years for each Bank Parcel. I. Performance Standards for Vegetation: Native hardwood trees or native hardwood tree and shrub species should be planted at a density sufficient to provide 260 stems per acre after five years. A minimum of four (4) native hardwood trees or four (4) native hardwood tree and shrub species must be planted. No one species shall be greater than 50% of the planted stems. A list of species for planting will be detailed in the BPDP for approval. Native hardwood tree volunteer species may be included to meet performance standards as determined by the DWR. J. A " stem" means a woody seedling, sapling, shrub or tree, no less than 10 centimeters in height and shall apply, on the Bank Parcel, to the minimum height that a planted tree or shrub shall be at initial planting. Volunteer stems that are less than 10 centimeters shall not be quantified and included in the annual vegetation data included with the monitoring reports. K. If the performance standards of the vegetation are not met, supplemental plantings may be required. Supplemental plantings will be utilized until the required densities have been achieved and maintained for five years. Bank Parcel maintenance measures, such as ensuring diffused flow, managing invasive species, and pest control will be included in the BPDP. L. Monitoring Reports for Riparian Buffer Credit & Nutrient Offset Credit: Reporting criteria of the vegetation shall be based on the Carolina Vegetation Survey (CVS) - EEP Protocol for Recording Vegetation Level 2 Plot Sampling only version 4.0 or any updated versions of this protocol in place at the date of acceptance of each BPDP. The Sponsor shall submit to the DWR an annual monitoring report for the Bank Parcel no later than December 31 of each year for a minimum of five consecutive years after the first full growing season for the Bank Parcel under this Instrument. Vegetation data shall not be collected prior to late August of each year. This report will describe the conditions of the Bank Parcel, including an evaluation of the performance standards of the vegetation contained within the approved BPDP. Reports shall contain the following: 1. A U.S. Geological Survey map showing the location of the Bank Parcel; 2. A detailed narrative with supporting photos summarizing the condition of the Bank Parcel along with any maintenance or remediation performed that year; and 3. A map, survey, or other figures showing locations of sampling plots, permanent photo points, and location of transects, etc.; and 4. Monitoring data, including specific vegetation counts and heights showing that the trees or tree and shrub species planted are meeting performance standards and updated photographs; and 5. A copy of the most recent Bank credit/debit ledgers; and 11 6. Corresponding verification letters from designated local governments upon request; and 7. Corresponding Mitigation Transfer Certificates upon request; and 8. Proof of Performance/Maintenance Bond renewal to cover the next monitoring year (when applicable). Contingency Plans/Remedial Actions M. In the event the Bank Parcel fails to achieve the performance criteria described in this Instrument and in the approved BPDP, the Bank Sponsor shall develop necessary contingency plans in coordination with the DWR and implement appropriate remedial actions for the Bank Parcel and the Bank. Depending on the degree of remedial actions required, the DWR may modify the monitoring period. VII. CALCULATION OF CREDITS Riparian Buffer Credits A. All Riparian Buffer Credits shall be determined based on the ratios and percentages provided in 15A NCAC 02B. 0295 (m) and (n) following the guidance provided in the Clarified Procedures for Calculating Buffer Mitigation Credits and Nutrient Offset Credits letter issued by the DWR (see Reference 5), including the most recent Project Credit Table Template (see Attachment D) provided by DWR. B. Riparian buffer restoration on the Bank Parcel, as described in 15A NCAC 02B. 0295(n) and (o)(7) and defined in 15A NCAC 02B .0295(b) that is performed on agriculture lands within the Bank Parcel, may be used for either Riparian Buffer Credit or Nutrient Offset Credit, but not both. C. Riparian buffer preservation on the Bank Parcel, as described in 15A NCAC 02B .0295(o) and defined in 15A NCAC 02B .0295(b), can only be used for Riparian Buffer Credit. D. Riparian Buffer Credit is defined as one (1) buffer credit per one square foot or 43,560 buffer credits per one acre. Nutrient Offset Credits E. The square footage of Nutrient Offset Credits on the Bank Parcel will be determined by applying the applicable ratios as provided in 15A NCAC 02B. 0295(m) for a Restoration Site following the guidance provided in the Clarified Procedures for Calculating Buffer Mitigation Credits and Nutrient Offset Credits issued by the DWR (see Reference 5) including the most recent Project Credit Table Template provided by DWR. All riparian areas proposed for Nutrient Offset Credits must be a minimum of 50 feet from the top of the banks along viable features on land noted in a Site Viability Letter as having agricultural use. F. Nutrient Offset Credits cannot be achieved through the preservation activities performed on this Bank Parcel. 12 G. Nutrient Abatement of Restored Riparian Area/Buffers within agricultural land: The Sponsor and DWR agree to the following: 1. Pursuant to the Jordan Trading Rule Item 15A NCAC 02B .0273(2)(a), load reductions eligible for credit are only those that exceed reduction needs calculated by applying the strategy subwatershed percentage reduction goals as provided in 15A NCAC 02B .0262(5). For the Upper New Hope Subwatershed of Jordan Lake, this requirement results in a reduction of credits yielded per acre for restored riparian buffers when compared with the credit given in other river basins. Table 3.0 below lists the generated credit per acre of restored riparian buffer for the Upper New Hope Subwatershed of Jordan Lake (See Reference 5). Table 3.0 Generated credit yields for forest buffer restoration in the Upper New Hope Subwatershed of Jordan Lake Watershed Nitrogen Phosphorus Upper New Hope Subwatershed of Jordan Lake 2,169.260 lb/30yr/ac 143.810 lb/30yr/ac H. As required under the Jordan Trading Rule Item 15A NCAC 02B .0273(2)(d)(i), the party seeking to sell credit must account for differences in instream nutrient losses between the location of the reduction need and excess loading reduction being delivered to the affected area of Jordan Lake. DWR calculated the delivered Jordan Lake Total Nitrogen (TN) and Jordan Lake Total Phosphorus (TP) credit yields per acre of buffer restoration in each Jordan Lake 14-digit HUC subwatershed (see Reference 5). 1. Delivered credits are calculated by applying the delivery factors in Table 4.0 below (See Attachment B and Reference 5) and the acreage of riparian restoration to the generated credit yields from Table 3.0 above. The delivery factor for the bank under this Instrument for Total Nitrogen (TN) and Total Phosphorus (TP) is provided in Table 4.0 below using Attachment B for reference. The amount of delivered credits for the Bank Parcel will be detailed in the BPDP. Table 4.0 – Delivery Factors & Credit Conversion Ratio Bank Parcel TN TP Bandit Farms – 14-Digit HUC 03030002060070 Delivery Factor: 40% Ratio: 50.20146 ft2/lb Delivery Factor: 19% Ratio: 1,594.20874 ft2/lb 2. The Bank Sponsor shall report the pounds of TN and TP credit per acre of restored riparian buffer in the BPDP for both credits generated at the site of the nutrient reduction activity and the credits delivered to Jordan Lake. I. The Sponsor and DWR agree that the methodology and calculations for determining nitrogen and phosphorus reductions, associated with restoration of riparian areas on the Bank Parcel as described in Section IV of this Instrument, shall be fixed as part of the approval of this Instrument, with the fixed amount not changing during the Bank Parcel development or credit 13 release schedule for the Bank Parcel. For further details on the approved method and calculations for determining nutrient reductions associated with the riparian restoration on the Bank Parcel refer to the DWR - Methodology & Calculations for Nutrient Reductions document found in Reference 6. Remainder of this page intentionally left blank 14 VIII. CREDIT RELEASE SCHEDULE A. In general, upon submittal of all appropriate documentation by the Sponsor, and subsequent approval by DWR, it is agreed that Riparian Buffer Credits and Nutrient Offset Credits associated with the Bandit Farms Bank Parcel will become available for sale to a third party in accordance with a Credit Release in accordance with the Credit Release Schedule in Table 5.0 below: Table 5.0 – Credit Release Schedule for Riparian Buffer Credits and Nutrient Offset Credits Task Project Milestone % Credit Available for Sale 1 Instrument and BPDP Approved by DWR, Conservation Easement Recorded and Assigned according to Section X of this Instrument has been completed and approved by DWR1, and Financial Assurance Posted 25% 2 All mitigation activities including Riparian Earthwork, Planting and Installation of Monitoring Devices Completed, easement boundaries adequately marked, all applicable permits obtained, and site visit performed by DWR 20% 3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10% 4 Monitoring Report #1: Approved by the DWR2 & Financial Assurance Renewed 10% 5 Monitoring Report #2: Approved by the DWR2 & Financial Assurance Renewed 10% 6 Monitoring Report #3: Approved by the DWR2 & Financial Assurance Renewed 10% 7 Monitoring Report #4: Approved by the DWR2 & Financial Assurance Renewed 5% 8 Monitoring Report #5: Approved by the DWR2 and final site visit by DWR has been conducted 10% Total 100% 1For specification, please see Section V of this Instrument. 2DWR approval provided upon a determination that the site is meeting performance standards contained within the approved BPDP. B. DWR may modify Credit Release Schedules based on the information submitted or the order in which required information is received. DWR will notify Sponsor of any modification to the Credit Release Schedule. C. Any major deviations to the Bank Parcel that are not authorized in writing by DWR prior to implementation may affect the amount of Riparian Buffer Credits and Nutrient Offset Credits that will be generated by the Bank Parcel. 15 IX. PROCEDURE FOR DEBITING AND CREDITING Credit Ledgers A. The Sponsor shall maintain one credit ledger for each mitigation type for the Bank Parcel under this Instrument unless otherwise instructed by DWR in the approved BPDP. Credit ledgers shall provide the accounting for Riparian Buffer Credits in square feet and acres and Nutrient Offset Credits in pounds and square feet. B. Each credit ledger shall be submitted on a separate 8 ½ in. x 11 in. spreadsheet with legible font style and font size. All ledgers shall be submitted using the templates provided in Attachment C of this Instrument or any updated versions to these templates as provided by DWR. Credit Processing C. Riparian Buffer Credits generated on the Bank Parcel will be used to provide mitigation for authorized buffer impacts within the Upper New Hope Subwatershed of Jordan Lake, in accordance with 15A NCAC 02B .0295(g). D. Nutrient Offset Credits generated on the Bank Parcel will be used to offset nitrogen and phosphorus nutrient loads within the Upper New Hope Subwatershed of Jordan Lake, in accordance with 15A NCAC 02B .0703. E. Available Riparian Buffer Credits (credits that have been released by DWR but not sold by the Sponsor) that are generated from riparian restoration on agricultural land and meet criteria for Nutrient Offset Credits as outlined in Section VII of this Instrument, the Site Viability Letter and the corresponding BPDP, can be converted from Riparian Buffer Credits into Nutrient Offset Credits upon written approval from DWR. Once a credit has been converted to another credit type, the transaction is permanent, and the credit cannot be converted again. F. Available Nutrient Offset Credits (credits that have been released by DWR but not sold by the Sponsor) that are generated from riparian restoration within 0-100 ft from top-of-bank of stream banks and meet criteria for Riparian Buffer Credits as outlined in Section VII of this Instrument, the Site Viability Letter, 15A NCAC 02B. 0295, and the corresponding BPDP, can be converted from Nutrient Offset Credits to Riparian Buffer Credits upon written approval from DWR. Once a credit has been converted to another credit type, the transaction is permanent, and the credit cannot be converted again. G. Any Credit conversions must be calculated using the guidance provided in the Clarified Procedures for Calculating Buffer Mitigation Credits and Nutrient Offset Credits letter issued by the DWR (See Reference 5). H. The Sponsor shall obtain written verification of buffer mitigation required from the delegated local government in the Upper New Hope Subwatershed of Jordan Lake or from DWR prior to debiting Riparian Buffer Credits from the Bank Parcel. I. The Sponsor shall obtain written verification of nutrient offset need from a designated local government in the Upper New Hope Subwatershed of Jordan Lake or from DWR through an 16 approved NPDES permit for wastewater nutrient sources prior to debiting Nutrient Offset Credits from the Bank Parcel. J. All credit and debit transactions for the Bank Parcel under this Instrument shall be accurately depicted in the credit ledgers. The Sponsor shall submit accurate and up-to-date credit ledgers for each Bank Parcel by the 10th of each month. At a minimum and only upon request, DWR shall receive a hard copy of updated credit ledgers along with corresponding Mitigation Credit Transfer Certificates and all corresponding letters from the designated local governments or DWR where applicable once a year. Notification of all credit sales shall be provided to DWR until all credits that have been released have been sold. Mitigation Credit Transfer Certificates K. All credit sales will include a Mitigation Credit Transfer Certificate (Certificate) that is required to be provided to the buyer of Riparian Buffer and/or Nutrient Offset Credits, that will include, at a minimum, the following information; 1. Bank Details: (1) Sponsor Name, (2) Bank Parcel name as it appears in Table 1.0 and, (3) DWR project number for the BPDP as it appears in Table 1.0. 2. Credit Details: (1) date of receipt, (2) identify if full or partial payment, and (3- when applicable) amount of nitrogen Nutrient Offset Credits purchased in pounds and confirmation from the designated local government or DWR of the amount required, and (4-when applicable) the amount of phosphorus credits purchased in pounds and the confirmation from DWR or the local government of the amount required, and (5-when applicable) the amount of Riparian Buffer Credits purchased in square feet and the confirmation from DWR or the local government of the amount required. 3. Permitted Project Details: (1) project name and project number as it appears on DWR or local government permits and/or certifications, (2) 14-digit HUC, (3) Jordan Lake subwatershed (Upper New Hope), (4) nutrient strategy applicable to the project with impacts, (5 — when applicable) designated local government requiring Nutrient Offset Credits, and/ or (6) DWR or delegated local government requiring Riparian Butter Credits for this project and (7) credit type and amount required for the project. L. If DWR determines the Bank is operating at a deficit (e.g. the Sponsor is selling and/or transferring credit that is not available), or the Bank is selling or transferring credits out of compliance with statutes, rules or this Instrument, the sale/transfer of credits will immediately cease, and DWR, in consultation with the Sponsor, will determine what remedial actions are necessary. X. BANK PARCEL CLOSURE A. Bank Parcel Closure for the Bank Parcel under this Instrument shall be identified as the event when the Sponsor is relieved of all its responsibilities to the Bank Parcel and there are no Riparian Buffer Credits or Nutrient Offset Credits left to sell. B. Bank Parcel Closure shall commence only after all following events have occurred; 17 1. Transfer or assignment of the conservation easement and all its interests, in perpetuity, to a land trust or stewardship program as described in Section V of this instrument. 2. All five years of monitoring completed, and all monitoring reports submitted and approved by DWR. 3. All credits have been released and debited and updated ledgers showing zero credit balances have been submitted and approved by DWR. XI. GENERAL PROVISIONS A. Upon the presentation of proper credentials, and during normal business hours, the Sponsor and the landowner shall grant permission to the Director of DWR, or an authorized representative of the Director of DWR to enter the property containing the Bank Parcel. B. Amendments: This Banking Instrument may be amended or modified only with written approval of all signatory parties. C. Any transfer of the Sponsor' s rights or obligations outlined in this Instrument or any other agreement referenced in this Instrument to a third party must be approved by DWR prior to the transfer. D. Force Majeure: After 100% of all the credits have been released in accordance with the credit release schedule in Section VIII and confirmation has been received by the DWR that the Conservation Easement has been successfully assigned in compliance with Item H of Section V, the Sponsor will not be responsible for Bank failure that is attributed to natural catastrophes including but not limited to flood, drought, disease, regional pest infestation, etc. that are beyond the control of the Sponsor. E. However, if an event occurs before 100% of all the credits have been released in accordance with the credit release schedule in Section VIII, the Sponsor shall take remedial action to restore the property to its condition prior to the event, in a manner sufficient to provide adequate mitigation to cover credits that were sold prior to the occurrence of the event. Such remedial action shall be taken by the Sponsor only to the extent necessary and appropriate, as determined by DWR and the Sponsor. DWR must concur in writing that a force majeure event has occurred for this provision to apply. F. Oversight: Actions taken by DWR may include, but are not limited to, the following: 1. Site visits, 2. Issuance of Site Viability Letters, 3. BPDP review and approval of items listed in Section V of this Instrument, 4. As - Built report review and approval of items listed in Section VI of this Instrument, 5. Monitoring Report review and approval of items listen in Section VI of this Instrument, 18 6. Credit Ledger review and approval of items listen in Section IX of this Instrument, 7. Certificate review of items listed in Section IX of this Instrument and cross analysis to credit ledgers and, 8. Information requests, file reviews and audits. Reports, ledgers, files and other information shall be made available to DWR upon request, unless otherwise specified in this or any other document. G. Validity of this Instrument: This Instrument will become valid on the date of the last party's signature. H. Specific Language of this Instrument Shall Be Controlling: To the extent that specific language in this document changes, modifies, or deletes terms and conditions contained in those documents that are incorporated into the Instrument by reference, and that are not legally binding, the specific language within the Instrument shall be controlling. I. Any disputes over decisions regarding this Instrument, shall be referred to the Director of DWR for a decision. The Director' s decision is subject to review as provided in Articles 3 and 4 of G. S. 150B. J. This Agreement shall be binding upon the parties and is entered into knowingly, intelligently, and voluntarily. K. Notices: All Notices and other communication which may be or are required to be given or made by any party to the other shall be in writing and shall be deemed to have been properly given and received on the date delivered in person, received via email with a delivery receipt requested, or deposited in the United States mail, registered or certified, return receipt requested, to the addresses set out below or at such other addresses as specified by written notice delivered in accordance herewith. If to Bank Sponsor: RestorEcology Jordan, LLC PO Box 5842 Cary, NC 27512 Attn: Daniel Ramsay dramsay@restorecology.com If to DWR: NC Division of Water Resources – 401 & Buffer Permitting Branch Attn: Nutrient Offset and Buffer Banking Coordinator 1617 Mail Service Center Raleigh, NC 27699-1617 19 L. This agreement shall be construed under the laws of the State of North Carolina. RESTORECOLOGY JORDAN, LLC By: _Daniel B. Ramsay_______ (Print) ____________________ (Signature) Title: Owner_____________ Date: __________________ NORTH CAROLINA DEPARTMENT OF ENVIRONMENTAL QUALITY – DIVISION OF WATER RESOURCES By: ____________________ (Print) ____________________ (Signature) Title: __________________ Date: __________________ Nutrient Offset Program & Buffer Mitigation Program Authorities for UMBI/MBI Updated 03/26/2013 Attachment A All Basins General Statutes: G.S. §143-214.1 Water; water quality standards and classifications; duties of Commission G.S. §143-214.11 Ecosystem Enhancement Program G.S. §143-214.26 Nutrient Offset Credits G.S. §143-214.20-24 Riparian Buffer Protection Program G.S. §143-214.7 Stormwater runoff rules and programs G.S. §143-215.3(a)(1) General powers of Commission and Department; auxiliary powers G.S. §143-215.6A Enforcement Procedures: Civil Penalties G.S. §143-215.6B Enforcement Procedures: Criminal Penalties G.S. §143-215.6C Enforcement Procedures: Injunctive Relief G.S. §143-215.8B Basinwide Water Quality Management Plans G.S. §143B-282 Environmental Management Commission – creation; powers and duties Session Laws S.L. 2012-200 (Amendment to G.S. §143-214.23 and G.S. §143-215.1) S.L. 2011-343 (Amendment to G.S. §143-214.11) S.L. 2009- 337 (Amendment to G.S. §143-214.11) Administrative Rules: 15A NCAC 02B .0202 Definitions 15A NCAC 02B .0223 Nutrient Sensitive Waters 15A NCAC 02B .0237 Best Management Practice Cost-Effectiveness Rate 15A NCAC 02B .0240 Nutrient Offset Payments 15A NCAC 02B .0269 Riparian Buffer Mitigation Fees to the NC Ecosystem Enhancement Program 15A NCAC 02B .0274 Nutrient Offset Payment Rates for the NC Ecosystem Enhancement Program 15A NCAC 02B .0301 Stream Classifications Neuse River Basin Buffer and Neuse Nutrient Strategy Session Laws S.L. 2011-394 S.L. 1998-221 (Part I) S.L. 1995-572 Administrative Rules: 15A NCAC 02B .0232 Basin Nutrient Reduction Goal 15A NCAC 02B .0233 Protection and Maintenance of Existing Riparian Buffers 15A NCAC 02B .0234 NPDES Wastewater Discharge Requirements 15A NCAC 02B .0235 Basinwide Stormwater Requirements 15A NCAC 02B .0236 Agricultural Nitrogen Loading Reduction 15A NCAC 02B .0238 Agricultural Nitrogen Reduction Strategy 15A NCAC 02B .0239 Nutrient Management 15A NCAC 02B .0241 Delegation of Authority for the Protection and Maintenance of Existing Riparian Buffers 15A NCAC 02B .0242 Mitigation Program for Protection and Maintenance of Riparian Buffers Neuse River Basin Buffer and Falls Lake Nutrient Strategy General Statutes and Session Laws: G.S. §143-214.5 Water Supply Watershed Protection S.L. 2012-187 S.L. 2011-394 S.L. 2009-486 S.L. 1998-221 (Part I) Administrative Rules: 15A NCAC 02B .0233 Protection and Maintenance of Existing Riparian Buffers 15A NCAC 02B .0241 Delegation of Authority for the Protection and Maintenance of Existing Riparian Buffers 15A NCAC 02B .0242 Mitigation Program for Protection and Maintenance of Riparian Buffers 15A NCAC 02B .0275 Purpose and Scope 15A NCAC 02B .0276 Definitions 15A NCAC 02B .0277 Stormwater Management for New Development 15A NCAC 02B .0278 Stormwater Management for Existing Development 15A NCAC 02B .0279 Wastewater Discharge Requirements 15A NCAC 02B .0280 Agriculture 15A NCAC 02B .0281 Stormwater Requirements for State and Federal Entities 15A NCAC 02B .0282 Options for Offsetting Nutrient Loads Jordan Buffer and Jordan Water Supply Nutrient Strategy General Statutes and Session Laws: G.S. §143-214.5 Water Supply Watershed Protection) S.L. 2012-201 S.L. 2012-187 S.L. 2009-216 S.L. 2009-484 S.L. 2006-259 (Section 31(a)) S.L. 2005-190 S.L. 1999-329 (part of G.S. 143B-282) Administrative Rules: 15A NCAC 2B .0262 Purpose and Scope 15A NCAC 2B .0263 Definitions 15A NCAC 2B .0264 Agriculture 15A NCAC 2B .0265 Stormwater Management for New Development 15A NCAC 2B .0267 Jordan Water Supply Nutrient Strategy 15A NCAC 2B .0268 Mitigation for Riparian Buffers 15A NCAC 2B .0270 Wastewater Discharge Requirements 15A NCAC 2B .0271 Stormwater Requirements for State and Federal Entities 15A NCAC 2B .0272 Fertilizer Management 15A NCAC 2B .0273 Options for Offsetting Nutrient Loads Nutrient Offset Program & Buffer Mitigation Program Authorities for UMBI/MBI Updated 03/26/2013 Tar-Pamlico River Basin Buffer and Tar-Pamlico Nutrient Strategy Session Laws: S.L. 2011-394 S.L. 1999-329 (part of G.S. 143B-282) Administrative Rules: 15A NCAC 2B .0229 Nutrient Offset Payments for Non-Tar-Pamlico Basin Association Members 15A NCAC 2B .0255 Agricultural Nutrient Loading Goals 15A NCAC 2B .0256 Agricultural Nutrient Control Strategy 15A NCAC 2B .0257 Nutrient Management 15A NCAC 2B .0258 Basinwide Stormwater Requirements 15A NCAC 2B .0259 Protection and Maintenance of Existing Riparian Buffers 15A NCAC 2B .0260 Mitigation Program for Protection and Maintenance of Existing Riparian Buffers 15A NCAC 2B .0261 Delegation of Authority for the Protection and Maintenance of Existing Riparian Buffers Jordan Water Supply Nutrient Strategy Delivered Credit Yield Table for Jordan Sub Watersheds Updated 12/20/2012 Page 1 of 2 Attachment B Delivered credit yields for buffer acres in Jordan small watersheds. Watershed ID Jordan Subwatershed Delivery Factors TN Credit TP Credit TN TP (lbs/30yrs) (lbs/30yrs) 03030002010010 Haw 25% 10% 562.34 14.38 03030002010020 Haw 37% 36% 832.26 51.77 03030002010030 Haw 44% 40% 989.72 57.52 03030002010040 Haw 49% 44% 1102.19 63.27 03030002010050 Haw 55% 48% 1237.15 69.03 03030002020010 Haw 15% 4% 337.40 5.75 03030002020020 Haw 22% 12% 494.86 17.26 03030002020030 Haw 48% 43% 1079.69 61.84 03030002020040 Haw 32% 33% 719.80 47.46 03030002020050 Haw 32% 32% 719.80 46.02 03030002020060 Haw 47% 42% 1057.20 60.40 03030002020070 Haw 54% 47% 1214.66 67.59 03030002030010 Haw 60% 56% 1349.62 80.53 03030002030020 Haw 44% 31% 989.72 44.58 03030002030030 Haw 25% 8% 562.34 11.50 03030002030040 Haw 42% 30% 944.73 43.14 03030002030050 Haw 64% 62% 1439.59 89.16 03030002030060 Haw 39% 19% 877.25 27.32 03030002030070 Haw 36% 18% 809.77 25.88 03030002030080 Haw 73% 64% 1642.04 92.04 03030002040010 Haw 30% 14% 674.81 20.13 03030002040020 Haw 28% 14% 629.82 20.13 03030002040030 Haw 71% 63% 1597.05 90.60 03030002040040 Haw 32% 15% 719.80 21.57 03030002040050 Haw 52% 50% 1169.67 71.90 03030002040060 Haw 54% 51% 1214.66 73.34 03030002040070 Haw 67% 60% 1507.07 86.28 03030002040080 Haw 53% 51% 1192.16 73.34 03030002040090 Haw 54% 51% 1214.66 73.34 03030002040100 Haw 75% 65% 1687.02 93.47 03030002040110 Haw 66% 60% 1484.58 86.28 03030002050010 Haw 74% 68% 1664.53 97.79 03030002050020 Haw 81% 74% 1821.98 106.42 03030002050030 Haw 42% 17% 944.73 24.45 03030002050040 Haw 80% 73% 1799.49 104.98 Jordan Water Supply Nutrient Strategy Delivered Credit Yield Table for Jordan Sub Watersheds Updated 12/20/2012 Page 2 of 2 Watershed ID Jordan Subwatershed Delivery Factors TN Credit TP Credit TN TP (lbs/30yrs) (lbs/30yrs) 03030002050050 Haw 71% 67% 1597.05 96.35 03030002050060 Haw 79% 73% 1777.00 104.98 03030002050070 Haw 78% 72% 1754.50 103.54 03030002050080 Haw 80% 73% 1799.49 104.98 03030002050090 Haw 79% 73% 1777.00 104.98 03030002050100 Haw 81% 75% 1821.98 107.85 03030002060010 Haw 81% 74% 1821.98 106.42 03030002060020 Haw 95% 97% 2136.90 139.49 03030002060030 Haw 88% 91% 1979.44 130.86 03030002060040 Haw 97% 98% 2181.88 140.93 03030002060050 Haw 92% 95% 2069.41 136.61 03030002060062 Haw 98% 99% 2204.38 142.37 03030002060070 UNH 40% 19% 867.70 27.32 03030002060080 UNH 59% 45% 1279.86 64.71 03030002060100 UNH 69% 63% 1496.79 90.60 03030002060110 UNH 61% 58% 1323.25 83.41 03030002060120 UNH 69% 63% 1496.79 90.60 03030002060140 UNH 85% 89% 1843.87 127.99 03030002060130 UNH 69% 63% 1496.79 90.60 03030002060160 LNH 85% 90% 1932.07 131.76 03030002060090* UNH 92% 94% 1995.71 135.18 03030002060090* LNH 92% 94% 2091.18 137.62 03030002060060* UNH 94% 96% 2039.10 138.05 03030002060060* LNH 94% 96% 2136.64 140.54 03030002060150* UNH 88% 91% 1908.94 130.86 03030002060150* LNH 88% 91% 2000.26 133.22 *Watershed is located in both the Upper New Hope (UNH) and Lower New Hope (LNH) Subwatersheds. *Credits shown below are only for mitigation credits approved by the UMBI, BPDP, and As-Built. Sale/ Release Date Purchaser Name or % of Credit Release Project w/ 14 Digit HUC Local Gov't Square Feet Acres Square Feet Acres Square Feet Acres Total Balances Credits Released/Available to Bank Credits Debited/Sold From Bank Buffer Credit Balance RestorEcology Jordan, LLC -Bandit Farms Mitigation Banking Instrument (Bandit Farms -Upper New Hope Arm of Jordan Lake, 03030002060070) Buffer Credit Ledger Date Last Updated: DWR Bank Parcel Project #: 2016-0393 Total Credits Released To Date: *Credits shown below are only for mitigation credits approved by the UMBI, BPDP, and As-Built. Sale/Release Date Purchaser Name or % of Credit Release Project Name 14-digit HUC of Project Local Gov't Requiring Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Total Balances Credits Released/Available to Bank Nutrient Credit BalanceCredits Debited/Sold From Bank RestorEcology Jordan, LLC Bandit Farms Mitigation Banking Instrument (Bandit Farms -Upper New Hope Arm of Jordan Lake, 03030002060070) Nitrogen Credit Ledger Date Last Updated: DWR Bank Parcel Project #: 2016-0393 As-Built Credit Total: Delivery Factor: 40% N *Credits shown below are only for mitigation credits approved by the UMBI, BPDP, and As-Built. Sale/Release Date Purchaser Name or % of Credit Release Project Name 14-digit HUC of Project Local Gov't Requiring Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Generated Nitrogen (lbs) Delivered Nitrogen (lbs) Total Balances Credits Released/Available to Bank Credits Debited/Sold From Bank Nutrient Credit Balance RestorEcology Jordan, LLC -Bandit Farms Mitigation Banking Instrument (Bandit Farms -Upper New Hope Arm of Jordan Lake, 03030002060070) Phosphorus Credit Ledger Date Last Updated: DWR Bank Parcel Project #: 2016-0393 As-Built Credit Total: Delivery Factor: 19% P Table 1. [INSERT PROJECT NAME], [INSERT PROJECT NUMBER], Project Credits Project Area N Credit Conversion Ratio (ft2/pound) P Credit Conversion Ratio (ft2/pound) Credit Type Location Subject? (enter NO if ephemeral or ditch 1) Feature Type Mitigation Activity Min-Max Buffer Width (ft)Feature Name Total Area (ft2) Total (Creditable) Area of Buffer Mitigation (ft2) Initial Credit Ratio (x:1)% Full Credit Final Credit Ratio (x:1) Convertible to Riparian Buffer? Riparian Buffer Credits Convertible to Nutrient Offset? Delivered Nutrient Offset: N (lbs) Delivered Nutrient Offset: P (lbs) ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— Totals (ft2):0 0 0.000 0.000 0.000 Total Buffer (ft2):0 0 Total Nutrient Offset (ft2):0 N/A Total Ephemeral Area (ft2) for Credit:0 0 Total Eligible Ephemeral Area (ft2):0 0.0%Ephemeral Reaches as % TABM Enter Preservation Credits Below Total Eligible for Preservation (ft2):0 0.0%Preservation as % TABM Credit Type Location Subject?Feature Type Mitigation Activity Min-Max Buffer Width (ft)Feature Name Total Area (sf) Total (Creditable) Area for Buffer Mitigation (ft2) Initial Credit Ratio (x:1)% Full Credit Final Credit Ratio (x:1) Riparian Buffer Credits Buffer — — — — — Preservation Area Subtotals (ft2):0 0 Square Feet Credits 0 0.000 0 0.000 0 0.000 0 0.000 Square Feet Credits Nitrogen:0.000 Phosphorus:0.0000 TOTAL AREA OF BUFFER MITIGATION (TABM) TOTAL NUTRIENT OFFSET MITIGATION Mitigation Totals Nutrient Offset: Preservation: Total Riparian Buffer: Cape Fear - Jordan Upper New Hope 03030002060070 50.20146 1594.20874 Restoration: Enhancement: Mitigation Totals 1. The Randleman Lake buffer rules allow some ditches to be classified as subject according to 15A NCAC 02B .0250 (5)(a). last updated 07/06/2023