20200047 Ver 2_MY3_Response_AMPSummary_CreditRequest_Reduced_20240102

WATERSHED
Investments
December 28, 2023
Andrew Friedman -Herring
NC DWR - 401 & Buffer Permitting
1617 Mail Service Center
Raleigh, NC 27699-1617
Re: Credit release request for Banished Bull Mitigation Bank Parcel (DWR #2020-0047v2)
CREDIT RELEASE REQUEST FORM
From: Michael Herrmann, Manager, Watershed Investments NC, LLC
Email: mike(d),watershednc.net,
Phone: [phone]
We request a credit release for the subject mitigation bank for completion of the Monitory Year 3
Report/Task #6 per the approved credit release schedule, which is included in the Attachments with
this request. In support of this request, the following documents are provided as attachments:
A. Monitoring Year 3 Report approval email;
B. Response memo to approval email and summary of completed adaptive activities
C. Continuation Certificate for Project Bond
D. Bank Mitigation Credit Calculation Table;
E. Project as -built Credit Release Table.
Credits requested for release are detailed below:
Credit Type
% Release
Credit
Notes/Comments
Amount
(include Units)
Buffer Restoration
10
21,290.10
Buffer Preservation
Buffer Enhancement
Generated Nitrogen Nutrient
10
742.979
Offset
Generated Phosphorus
10
47.854
Nutrient Offset
Sincerely,
Mike Herrmann
Cc: Katie Merritt (Via email: [e-mail])
1630 Weatherford Circle, Raleigh NC 27604 1 Tel : [phone] www.watershedinvestmentsnc.net

ATTACHMENT A. Monitoring Year 3 Report Approval Email
From: Friedman -Herring, Andrew
To: mherrmann
Cc: Merritt, Katie
Subject: Re: [External] RE: Proposed Adaptive Management Activities - Banished Bull
Date: Tuesday, November 28, 2023 9:27:36 AM
Hi Mike,
DWR has reviewed the Year 3 Monitoring Report for the Banished Bull Mitigation Parcel and
have the following comments:
A requirement for an easement boundary check to be performed every year was
included in the BPDP, but does not seem to be included in this monitoring report. Was
an easement boundary check completed this year? If so, provide a summary in response
to this comment and any photos of problem areas. Please make sure this section is
included in all monitoring reports going forward as its own section.
We approve of the Adaptive Management Plan proposed in this report. When
completed, provide DWR with a summary memo on actions taken, with photos of the
replanted areas with the newly planted stems flagged.
Thank you for your attention to these comments. Please provide an adequate response to all
items above along with supporting documents if required.
DWR officially approves the year 3 monitoring report for Banished Bull. Please provide
confirmation of bond renewal through next year's monitoring period. Once DWR receives your
bond renewal, we can proceed issuing the credit release for this task.
Due to consistent issues with this site and proposed replanting and other adaptive
management, please renew the bond at the current amount, and expect a partial credit
release until the adaptive management has been completed and memo received by DWR.
Additionally, DWR would like to request a site visit sometime in the spring after planting and
leaf out to see how the site is coming along. Thank you.
Best,
Andrew Friedman -Herring
Environmental Specialist II
Division of Water Resources - 401 & Buffer Permitting
North Carolina Department of Environmental Quality
(919)-707-3644
andrew.friedmanherring(@deq.nc.gov
From: Merritt, Katie <[e-mail]>
Sent: Tuesday, November 28, 2023 9:15 AM
To: Friedman -Herring, Andrew <[e-mail]>
Cc: mherrmann <[e-mail]>
Subject: FW: [External] RE: Proposed Adaptive Management Activities - Banished Bull

ATTACHMENT B. Response Memo to MY3 Report RequestsApproval Email
To: Andrew Friedman -Herring, NCDWR 401 & Buffer Permitting
(andrew. [e-mail])
From: Mike Herrmann, Watershed Investments ([e-mail]) 799W
CC: Katie Merritt, NCDWR 401 & Buffer Permitting ([e-mail])
Re: Response to MY3 request for additional information via email (see Attachment A) and summary
of completed adaptive management activities at Banished Bull Bank Parcel (DWR #2020-0047v2)
In the Attachment A email dated 11/28/2023, Mr. Friedman -Herring requested additional
information to support the release of project credits for the subject bank parcel. This memo provides
these requested materials including boundary check, summary of completed planned adaptive
management activities, and confirmation of bond renewal for the subject bank parcel.
Boundary Check Summary
Watershed Investments completed a boundary check of the site on 9/29/23. One area of
encroachment was observed at the property's southeast perimeter as indicated in the Supplemental
MY3 Figure 1. The source of the easement violation was a fallen tree from outside the project
easement boundary that blocked the path adjacent to the easement. The blocked path resulted in
encroachment of a small vehicle, likely to be an ATV, entering about 10 feet into the easement area
for a distance of approximately 40 feet. The landowner and land leasee were informed that the
encroachment violated easement terms where vehicles were not to be used within the conservation
easement. Subsequently, the fallen tree was removed from the adjacent path, additional easement
markings were installed, and one -gallon plants were planted in the impacted easement area (See
Supplemental MY3 Figure 2).
Completed Adaptive Management Activities
Supplemental planting of 80 one -gallon plants were proposed and approved in the MY3 Adaptive
Management Plan (AMP). Two areas of the project where trees were observed with low plant
heights were targeted for planting along with repair planting at the previously describe encroachment
area (See Supplemental MY3 Figure 2 for locations). Table 1 lists the plant species and numbers
planted. Plants were installed at the sits on 12/4/23 at spacing of approximately 16ft x 16ft.
Supplemental MY 3Table 1. Planted one -gallon tree species
Species
Common Name
Planted Number
Driodendron tulipifera
Tulip Poplar
15
Diospyros virginiana
Persimmon
20
Platanus occidentalis
Sycamore
30
Betula nigra
River Birch
15
Photos of the installed planting areas are included in Supplemental MY3 Figures 3 and 4

Confirmation of Bond Renewal
A Continuation Certificate of the project's performance bond was provided for the amount of
$80,000, the same amount as the previous year. A copy of the Certificate is provided in included as
Attachement C.
Supplemental MY3 Figure 1. Observed encroachment and Planting Areas.
Easemeile
N
FL-egendion
Eletlric FainerizN PlVegebtionranseptsement
-
to
t14
t
1
•1
0 100 Z00
400
Feet
_

Supplemental MY3 Figure 2. Encroachment area observed at the southeast portion of the
site. Fallen tree debris onto an adjacent path led to a vehicle entering about 10 feet into the
easement area for a distance of approximately 40 feet. Additional boundary signs were
installed along the path and trees planted where the easement was disturbed.

Supplemental MY3 Figure 4. Installed Plants Around Permanent Plot 5. 1

VIII. CREDIT RELEASE SCHEDULE
A. Upon submittal of all appropriate documentation by the Sponsor, and subsequent approval
by DWR, it is agreed that the Riparian Buffer Credits and Nutrient Offset Credits associated
with the Bank Parcel will become available for sale to a third party in accordance with the
Credit Release Schedule in Table 2 below:
Table 2 - Credit Release Schedule for Riparian Buffer and Nutrient Offset Credits
% Credit
Available for
Task
Project Milestone
Sale
MBI and BPDP Approved by DWR, Conservation Easement
1
Recorded* and assigned to an approved land trust or stewardship,
25
and Financial Assurance Posted
Site Earthwork, Planting and Installation of Monitoring Devices
2
Completed
20
Monitoring Financial Assurance Posted and Approval of As -Built
3
Report
10
Monitoring Report #1: Approved by the DWR** and financial
4
assurance renewed
10
Monitoring Report #2: Approved by the DWR** and financial
5
assurance renewed
10
Monitoring Report #3: Approved by the DWR** and financial
6
assurance renewed
10
Monitoring Report #4: Approved by the DWR** and financial
7
assurance renewed
5
Monitoring Report #5: Approved by the DWR * * and final site visit
8
by DWR has been conducted
10
Total
100%
* For specification, please see Section V in this Instrument
* * DWR Approval provided upon a determination that the site is meeting success criteria
contained within the approved BPDP
B. DWR may modify the credit release schedule based on the information submitted or the
order in which required information is received. DWR will notify the Sponsor of any
modification to the credit release schedule.
C. DWR may consider a Credit Release Schedule for a Bank Parcel based on the extent of
change between current onsite conditions and proposed post construction conditions.
10

Table 1. Banished Bull, INC DWR ID# 2020-0047, Project Credits
Neuse 03020201 - Upper Falls Lake
Project Area
N Credit Conversion Ratio (ft2/pound)
P Credit Conversion Ratio (ft2/pound)
19.16394
297.54099
Credit Type
Location
Subject? (enter
NO if
ephemeral or
ditch')
Feature Type
Mitigation Activity
Min -Max Buffer
Width (ft)
Feature Name
i
Total Area (ft)
Total (Creditable)
Area of Buffer
Mitigation (ft')
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 (Ibs)
Delivered
Nutrient
Offset: P (Ibs)
Buffer
Rural
Yes
I / P
Restoration
0-100
Mainstem
188,931
188,931
1
100%
1.00000
Yes
188,931.000
Yes
9,858.655
634.974
Buffer
Rural
No
Ephemeral
Restoration
0-100
UT to Mainstem
23,970
23,970
1
100%
1.00000
Yes
23,970.000
Yes
1,250.787
80.560
Nutrient Offset
Rural
Yes
I / P
Restoration
101-200
Mainstem
133,498
133,498
1
33%
3.03030
No
—
Yes
6,966.106
448.671
Nutrient Offset
Rural
No
Ephemeral
Restoration
101-200
UT to Mainstem
8,886
8,886
1
33%
3.03030
No
—
Yes
463.686
29.865
Totals (ft2):
Total Buffer (ft2):
Total Nutrient Offset (ft2):
355,285
355,285
212,901.000 18,539.234 1,194.070
212,901
212,901
142,384
N/A
Total Ephemeral Area (ft) for Credit
Total Eligible Ephemeral Area (ft)
Enter Preservation Credits Below Total Eligible for Preservation (ft)
f
Credit Type Location Subject? Feature Type Mitigation Activity Min -Max Bufer
Width (ft) Feature Name
Rural Yes hem,
Rural Yes Ephem,
TOTAL AREA OF BUFFER MITIGATION (TABM)
Mitigation Totals
Square Feet
Credits
Restoration:
212,901
212,901.000
Enhancement:
0
0.000
Preservation:
0
0.000
Total Riparian Buffer:
212,901
212,901.000
TOTAL NUTRIENT OFFSET MITIGATION
Mitigation Totals
Square Feet
I Credits
Nutrient Offset:
Nitrogen:
142 384
7,429.793
Phosphorus:
478.536
0-100
0-100
Preservation Area Subtotals (ft)
1. The Randleman Lake buffer rules allow some ditches to be classified as subject according to 15A NCAC 02B .0250 (5)(a).
23,970
23,970
53,225
11.3%
70,967
0.0%
Total Area (sf)
Total (Creditable)
Area for Buffer
Mitigation (ft')
0
0
0
0
0
0
Ephemeral Reaches as %TABM
Preservation as %TABM
Initial Credit I %Full Credit I Final Credit I Riparian
Ratio (x:1) Ratio (x:1) Buffer Credits
last updated 08/03/2020