20160393 Ver4_Credit Release Task 1 - 02052024

DocuSign Envelope ID: 6C5059C6-F966-4369-BOA5-E4B45BAF1CDD
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
February 5, 2024
Daniel Ramsay DWR Project #: 2016-0393v4
RestorEcology Jordan, LLC Orange County
(via electronic mail: dramsay&restorecolog m )
Re: Bandit Farms Mitigation Banking Instrument (MBI)
Bandit Farms Bank Parcel Credit Release — Task 1
Dear Mr. Ramsay:
On November 2, 2023, the Division of Water Resources (DWR) approved the Bank Parcel
Development Package (BPDP) for the Bandit Farms Nutrient Offset and Buffer Mitigation Bank. On
January 9, 2024, the DWR received a signed and recorded conservation easement and corresponding
plat for the subject site. Additionally, RestorEcology Jordan, LLC (REJ) provided confirmation that
the conservation easement for the subject bank has been successfully assigned to Unique Places to
Save. Unique Places to Save is a 501(c)(3) non-profit corporation and has been approved by DWR
as a long-term steward for this mitigation bank.
Lastly, DWR received a performance bond (#GSA2401040) from REJ in the amount of $150,000 to
cover performance obligations for the construction of the subject site. This bond is with The Gray
Casualty & Surety Company and ends with DWR approval of the As -Built Report.
In accordance with the MBI, signed on October 31, 2023, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones
Credit
1) MBI and BPDP Approved by DWR, Conservation Easement recorded 25%
and assigned according to B (1) of Section X and Financial
assurance Posted
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract. Therefore, 25% of your Jordan Lake riparian buffer Restoration credits
(0.25 x 498,733.235 ft2=124,683.309 ft2) and 25% of your Jordan Lake riparian buffer Preservation
credits (0.25 x 16,352.400 ft2 = 4,088.100 ft2) are now released.
Additionally, 25% of your delivered nitrogen offset credits (0.25 x 180.453 = 45.113 lb-N) and
25% of your delivered phosphorus credits (0.25 x 5.682 = 1.421 lb-P) are now released. Generated
credits are credits that have not been applied to the appropriate delivery factor.
Please note that the delivered nutrient offset credits can be sold from this bank and used for
impacts in the Upper New Hope Arm of Jordan Lake within the Cape Fear River Basin.
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: 6C5059C6-F966-4369-BOA5-E4B45BAF1CDD Bandit Farms Site
RestorEcology Jordan, LLC
February 5, 2024
Additionally, riparian buffer credits can only be used to offset impacts located in the Upper
New Hope Sub -watershed of Jordan Lake according to 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 Bandit Farms Mitigation Bank. Upon receiving this correspondence, please
submit three (4) credit ledgers to DWR reflecting the available credits released for each mitigation
type (Nitrogen Nutrient Offset, Phosphorus Nutrient Offset, Buffer Restoration, Buffer Preservation).
Please call Katie Merritt at [phone] if you have any questions regarding this correspondence.
cc:File Copy (Blake Hartshorn)
Sincerely,
DocuSigned by:
2r, 4...
Michael Pjetraj, Deputy Director
401 & Buffer Permitting Branch
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