20180180 Ver 2_Hollowell MY4_Task 8 Credit Release Request Form_20240131

January 31, 2024
CREDIT RELEASE REQUEST FORM

To: NCDEQ-DWR Nutrient Offset & Buffer Banking Coordinator
From: Cara Conder, Water & Land Solutions, [e-mail], 843-446-2312
Through: Water & Land Solutions, LLC

We formally request a credit release for the Hollowell site (DWR ID #2018-0180v2) for completion
of Task #8 per the approved credit release schedule, which is included in the Attachments with this
request. The following documents have been submitted to DWR for Task # 8 and are approved:
Monitoring Year 4 Report and bond renewal.
Credits requested for release are detailed below:
Credit Type % Release Credit Amount
(include Units)
Notes/Comments
Buffer Restoration 5 10,809.40 sq ft
Buffer Preservation and
Coastal Headwater
5 816.30 sq ft and
21,442.50 sq ft
coastal HW
The first amount is buffer
preservation and the second
is for coastal headwater
buffer.
Buffer Enhancement
Generated Nitrogen Nutrient
Offset
5 3,198.93 lbs
Delivered Nitrogen Nutrient
Offset (Jordan sites only)

Generated Nitrogen Nutrient
Offset

Delivered Phosphorus Nutrient
Offset (Jordan sites only)

Signature:

Attachments: 1) Approved Project Credit Table (include the most recent Asset Table approved by
DWR, whether it is the BPDP table or the As-Built table), 2) Approved Credit Release Schedule
Include the approved credit release schedule, whether it is the credit release schedule from the
MBI/UMBI or from the BPDP,

3

Table 1. Proposed Mitigation Credits

2.2 Design Approach
Riparian buffer mitigation and nutrient offset adjacent to streams and ditches was approved by DWR via
letter on February 5, 2019. Hollowell is also a stream and wetland mitigation bank, and restoration of
riparian areas will be accomplished through the goals and methods outlined by the WLS Neuse 01 Stream
& Wetland Umbrella Mitigation Banking Instrument, Hollowell Mitigation Plan (SAW-2017-00159) and the
Hollowell Riparian Buffer Nutrient Offset Mitigation Banking Instrument. All riparian buffer mitigation and
nutrient offset along channels begins from the top of bank and extends a maximum of 200 feet
perpendicular to the channel pursuant to 15A NCAC 02B .0295 and 15A NCAC 02B .0240. Land use
proposed for buffer restoration and nutrient offset was composed of row-crop agricultural fields. Wetland
mitigation areas are excluded from riparian buffer and nutrient offset credit areas.
A riparian headwater valley restoration approach was constructed for UT1-R1, UT2-R1, and UT2A.
Headwater stream restoration activities included excavating a broader floodplain at or slightly above the
Riparian
Widths Features Mitigation Type Total
Acreage
Eligible
Credit
Acreage
Credit Per
Acre (ft2)
Credit
Ratio
% Full
Credit Mitigation Credits (sq. ft.)
0-50'UT1-R2, UT2-R2,
UT2B Restoration 4.963 4.963 43,560 1:1 1 216,188 ft² (4.96 ac)
0-100'UT1-R1, UT2-R1,
UT2A
Coastal
Headwater
Restoration
8.232 8.232 43,560 1:1 1 358,586 ft² (8.23 ac)
101-200'UT1-R1, UT2-R1,
UT2A
Coastal
Headwater
Restoration
4.888 4.888 43,560 1:1 0.33 70,264 ft² (1.61 ac)
0-50' UT2-R3, UT2B Preservation
Subject Streams 2.413 2.413 43,560 10:1 1 10,511 ft² (0.24 ac)
51-100' UT2-R3 Preservation
Subject Streams 0.199 0.199 43,560 10:1 1 867 ft² (0.02 ac)
0-100'UT2C Preservation Non-
Subject Streams 0.568 0.568 43,560 5:1 1 4,948 ft² (0.11 ac)
4.963
13.120
Widths Features Mitigation Type Total
Acreage
Eligible
Credit
Acreage
Credit Per
Acre (lbs)
Credit
Ratio
0-50'Ditch 1, Ditch 2,
UT2-R3 Restoration 3.368 2,273.02 N/A
51-200'
Ditch 1, UT1-R2,
UT2-R2, UT2-R3,
Ditch 2
Restoration 24.779 2,273.02 N/A
TOTAL 28.147
Riparian Buffer Credits
16,326 ft² (0.37 ac)
216,188 ft² (216188.28 ac)Total Restoration Credits
Total Preservation Credits 3.180
Total Coastal Headwater Restoration Credits 428,850 ft² (9.85 ac)
Mitigation Credits (lbs)
7,655.53
63,978.69
includes ratios & reductions
Nutrient Offset Credits
56,323.16
11

VIII. CREDIT RELEASE SCHEDULE
A. Upon submittal of all appropriate documentation by the Sponsor, and subsequent approval
by DWR, it is agreed that the mitigation credits associated with the Bank Parcel will
become available for sale to a third party in accordance with the Credit Release Schedule
below.

Table 1 - Credit Release Schedule for Riparian Buffer and Nutrient Offset Credits
Task Project Milestone
% Credit
Available for
Sale
% Credit
Release
within
Coastal
Headwater
Areas
1
Instrument and BPDP Approved by DWR, Conservation Easement
Recorded* and Financial Assurance Posted, Stream & Wetland
Mitigation Plan Submitted to the IRT (if applicable) 20 None
2
Mitigation Site Earthwork, Planting and Installation of Monitoring
Devices Completed and all Applicable Permits Obtained 20 None
3
Monitoring Financial Assurance Posted and Approval of As-Built
Report 10 50
4
Monitoring Report #1 Approved by the DWR** & financial
assurance renewed 10 10
5
Monitoring Report #2 Approved by the DWR** & financial
assurance renewed 10 10
6
Monitoring Report #3 Approved by the DWR** & financial
assurance renewed 10 10
7
Item B (1) of Section X in this Instrument has been completed and
approved by DWR. 5 5

No remaining credits will be released until the conservation easement has been assigned to an approved
land trust or stewardship
8
Monitoring Report #4 Approved by the DWR** & financial
assurance renewed 5 5
9
Monitoring Report #5 Approved by the DWR** and final site visit
by DWR has been conducted 10 10
Total 100% 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 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.

IX. PROCEDURE FOR DEBITING AND CREDITING MITIGATION CREDITS

Credit Ledgers

A. The Bank Sponsor shall maintain a credit ledger for each mitigation type for the Bank
Parcel under this Instrument (Riparian Buffer Restoration Credits, Riparian Buffer
Preservation Credits & Coastal Headwater Restoration Riparian Buffer Credits, and