Credit Release Task 3 - Caraway Bluff II.docx

DocuSign Envelope ID: B56909E3-57F0-42ED-B8FF-F93B4C450D3E
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
January 31, 2024
Environmental Banc & Exchange, LLC DWR Project #: 2014-0820v6
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us )
Re: RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
Carraway Bluff Phase II Bank Parcel Credit Release — Task 3
Dear Ms. Mceachran,
On July 17, 2023, the Division of Water Resources (DWR) received an As -Built Report from
Environmental Banc & Exchange, LLC (EBX) for the Carraway Phase II Site. DWR provided
comments to EBX that were addressed in the revised As -Built Report submitted by EBX to DWR on
January 15, 2024. According to the As -Built survey and corresponding project credits table
submitted with the As -Built Report, there are slight adjustments in the total amounts of Riparian
Buffer credits and Nutrient Offset credits as compared to the approved Bank Parcel Development
Package. The subject site has generated 259,201.227 ft2 of buffer restoration credits, 5,749.712 ft2 of
buffer preservation credits and 943,416 ft2 (49,228.708 lbs-nitrogen) of nutrient offset credits.
DWR received a performance bond (#612402579) issued to EBX from United States Fire Insurance
Company, in the amount of $100,000, to cover monitoring and maintenance at the subject site. The
term of this bond applies beginning August 7, 2023, and ending August 7, 2024. Future credit
releases will be dependent on both the renewal of this performance bond and the annual monitoring
reports.
In accordance with the UMBI, signed on April 22, 2022 and the BPDP approved on January 27,
2023, the following Project Milestones have been met and the corresponding credits shall be
released:
Task/Milestones Credit
3) Monitoring Financial Assurance Posted & Approval of As -Built Report 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and the following credits are released:
• 10% of the Neuse riparian buffer restoration credits (0.10 x 259,201.227 ft2 = 25,920.123
ft2) plus 822.565 ft2 yields 26,742.688 ft2 now available to sell.
• 10% of the Neuse riparian buffer preservation credits (0.10 x 5,749.712 ft2 = 574.971 ft2)
minus 168.72 ft2 yields 406.251 ft2 now available to sell.
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: B56909E3-57F0-42ED-B8FF-F93B4C450D3E Caraway Bluff Phase II Site
EBX
January 31, 2024
• 10% of the Nitrogen nutrient offset credits (0.10 x 49,228.708 lb-N = 4,922.871 lb-N) minus
11.227 lbs-N yields 4,911.6441bs-N now available to sell.
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020201 of the Neuse River Basin excluding the Falls Lake Watershed pursuant to 15A NCAC
02B .0703, which became effective on April 1, 2020. Additionally, the riparian buffer credits
must be used for impacts in the Neuse River Basin in accordance with guidelines in the
Consolidated Buffer Mitigation Rule, 15A NCAC 02B .0295, which became effective on
November 1, 2015.
Upon receiving this correspondence, update all credit ledgers accordingly. Please feel free to contact
Katie Merritt at katie.merrittkdeq.nc.gov if you have any questions regarding this correspondence.
Sincerely,
Docu'S.ig-n1e-d,by,
755ABFOCD806428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Amy Staley - EBX (via electronic mail: astaley&res.us )
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