20210754 Ver 3_Task 4 Sassafras Phase II Credit Release Request_20240228

3600 Glenwood Avenue, Suite 100
Raleigh, NC 27612

Corporate Headquarters
6575 West Loop South, Suite 300
Bellaire, TX 77401
Main: 713.520.5400

February 28, 2024
CREDIT RELEASE REQUEST FORM
To: NCDEQ-DWR Nutrient Offset Coordinator
From: Heath Hidlay, [e-mail] (717-543-7711)
Through: Environmental Banc and Exchange, LLC (EBX)
We formally request a credit release for the Sassafras Phase II Mitigation Site (DWR Project # 2021-
0754v3) for completion of Task #4: Monitoring Report #1 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 #4:
1) Year 1 Monitoring Report 2) Credit Release Schedule (PDF from Approved BPDP, and Excel) and 3)
Approved Credit Table (PDF from As-Built)
Credits requested for release are detailed below:
Credit Type % Release Credit Amount
(Include Units)
Notes/Comments
Generated Nitrogen Nutrient Offset 10 2,812.084

Signature: Heath Hidlay

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 the Riparian Buffer Credits and/or Nutrient Offset
Credits associated with the Thunder Swamp Phase II, Sassafras Phase II and Caraway Bluff
Phase II Bank Parcels will become available for sale to a third party in accordance with a
Credit Release Schedule similar to that provided in Table 3.0 below.
B. A Credit Release Schedule specific to each Bank Parcel proposed under this Instrument
shall be provided in each BPDP and shall outline project milestones required to be
completed for each Task. Credit releases will follow the Credit Release Schedule approved
in each BPDP.
Table 3.0 - Credit Release Schedule for Riparian Buffer and Nutrient Offset Credits
Task Project Milestone
% Credit
Available for
Sale
1
Instrument and BPDP Approved by DWR, applicable DMS Full Delivery
Mitigation Plan approved by DWR, Conservation Easement Recorded* and
Financial Assurance Posted 15 - 20
2
All Riparian Earthwork & Mitigation Activities, Planting and Installation
of Monitoring Devices completed for both the Full Delivery site and the
Bank Parcel, easement boundaries adequately marked, all applicable
permits obtained. A site visit performed by DWR is required for this task 20
3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10
4
Monitoring Report #1: Approved by the DWR** & Financial Assurance
Posted 5-10
5
If Item L of Section V applies, then no remaining credits will be released
until Item B (1) of Section X in this Instrument has been completed and
approved by DWR 0-10
5 or 6
Monitoring Report #2: Approved by the DWR** & Financial Assurance
Posted 5-10
6
Monitoring Report #3: Approved by the DWR** & Financial Assurance
Posted 10
7
Item B (1) of Section X in this Instrument has been completed and
approved by DWR. 0-5
Unless Item L of Section V applies, then 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
Posted 5-10
9
Monitoring Report #5: Approved by the DWR** and final site visit 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

C. DWR may modify credit release schedules 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. Any major deviations to the Bank Parcels that
were 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 Parcels.
Table 6. Sassafras Phase II 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)
Nutrient Offset Rural Yes Ditch Restoration 0-100 Ditch 1 82,737 1 100%No —Yes 4,317.327 —
Nutrient Offset Rural Yes Ditch Restoration 101-200 Ditch 1 54,654 1 33%No —Yes 2,851.919 —
Nutrient Offset Rural No Ephemeral Restoration 101-200 RS2-A 21,482 1 33%No —Yes 1,120.959 —
Nutrient Offset Rural Yes I / P Restoration 101-200 RS1, RS2-B, RS2-C, RS3 380,033 1 33%No —Yes 19,830.630 —
Nutrient Offset Rural No Ditch Restoration No Credit Area (> 200 ft)17,640 1 No —No ——
———
———
———
———
———
———
———
———
———
———
———
———
———
———
Totals (ft2):556,546 0 0.000 28,120.835 0.000
Total Buffer (ft2):0 0
Total Nutrient Offset (ft2):556,546 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 —
Buffer —
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:28,120.835
Phosphorus:0.000
Neuse 03020201 - Outside Falls Lake
19.16394
N/A
Restoration:
Enhancement:
Mitigation Totals
556,546
TOTAL AREA OF BUFFER MITIGATION (TABM)
TOTAL NUTRIENT OFFSET MITIGATION
Mitigation Totals
Nutrient Offset:
Preservation:
Total Riparian Buffer:
1. The Randleman Lake buffer rules allow some ditches to be classified as subject according to 15A NCAC 02B .0250 (5)(a).
last updated 08/03/2020
As-Built Credits 28,120.835
Original Mit Plan Credits 28,121.208
Nutrient Offset Credit release schedule TOTAL (as-built) Credits:
Credit Release #%Nitrogen Release Date
1 Instrument and BPDP Approved by DWR, Conservation Easement Recorded* and
Financial Assurance Posted 20%5,624.167 4/27/2023
2 Mitigation Site Earthwork, Planting and Installation of Monitoring Devices Completed 15%4,218.125 5/17/2023
Re-plant TOB of Ditch and a couple of areas outside to the easement boundary (6 feet
away)5%1,406.042 5/17/2023
3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10%2,812.084 9/6/2023
4 Monitoring Report #1: Approved by the DWR** & financial assurance renewed 10%2,812.084
5 Monitoring Report #2: Approved by the DWR** & financial assurance renewed 10%2,812.084
6 Monitoring Report #3: Approved by the DWR** & financial assurance renewed 10%2,812.084
7 Item B (1) of Section X in this Instrument has been completed and approved by DWR.5%1,406.042
8 Monitoring Report #4: Approved by the DWR** & financial assurance renewed 5%1,406.042
9 Monitoring Report #5: Approved by the DWR** and final site visit by DWR has been
conducted 10%2,812.084
14,060.418 Credits Released to Date