20230163 Ver 2_Brooks Swamp 2023-0163v2, Credit Release Request No. 1, 040224_20240402

April 2, 2024
CREDIT RELEASE REQUEST FORM

To: NCDEQ-DWR Nutrient Offset & Buffer Banking Coordinator
From: Daniel Ramsay, [e-mail], 919-817-7378
Through: RestorEcology Neuse, LLC

We formally request a credit release for the Brooks Swamp Buffer Mitigation and Nutrient Offset
Mitigation Bank (DWR ID# 2023-0163V2) for completion of Task #1 per the approved credit release
schedule, which is included in the Attachments with this request. The following documents have been
submitted to and approved by DWR for Task #1:

1. Mitigation Plan dated December 21, 2023; approved February 26, 2024
2. Mitigation Bank Instrument executed February 21, 2024
3. Conservation Easement Recorded in Wayne County Register of Deeds March 22, 2024
4. Conservation Easement Plat Recorded in Wayne County Register of Deeds March 21, 2024
5. Construction Performance Bond, executed March 28, 2024
Credits requested for release are detailed below:

Credit Type %
Release
Credit Amount
(include Units)
Notes/Comments
Buffer Restoration 25% 51,400.500 credits
Buffer Preservation 25% 1,367.184 credits
Buffer Enhancement 25% 658.875 credits
Generated Nitrogen Nutrient
Offset
No longer shown in Project
Credits Table.
Delivered Nitrogen Nutrient
Offset
25% 2,450.736 lb/30 yr
Generated Phosphorus Nutrient
Offset Not applicable.
Delivered Phosphorus Nutrient
Offset (Jordan sites only)
Not applicable.

SIGNATURE

Attachments:
1. Approved Project Credit Table (from the approved Project Plan)
2. Approved Credit Release Schedule (from the MBI)
VIII. CREDIT RELEASE SCHEDULE
A. Upon submittal of all appropriate documentation by the Sponsor, and subsequent approval by
DWR, it is agreed that Riparian Buffer Credits and Nutrient Offset Credits associated with the
Brooks Swamp Bank Parcel will become available for sale to a third party in accordance with the
Credit Release Schedule provided in Table 3.0 below:
Table 3.0 — Credit Release Schedule for Riparian Buffer Credits and Nutrient Offset Credits
Task Project Milestone Credit
Available for
Sale
1 Instrument and BPDP Approved by DWR, Conservation Easement 25%
Recorded and Assigned', and Financial Assurance Posted
2 All mitigation activities including Riparian Earthwork, Planting and 20%
Installation of Monitoring Devices Completed, easement boundaries
adequately marked, all applicable permits obtained, and site visit
performed by DWR
3 Monitoring Financial Assurance Posted and Approval of As -Built Report 10%
4 Monitoring Report #1: Approved by the DWR' & Financial Assurance 10%
Renewed
5 Monitoring Report #2: Approved by the DWR' & Financial Assurance 10%
Renewed
6 Monitoring Report #3: Approved by the DWR' & Financial Assurance 10%
Renewed
7 Monitoring Report #4: Approved by the DWR' & Financial Assurance 5%
Renewed
8 Monitoring Report #5: Approved by the DWR' and final site visit by 10%
DWR has been conducted
Total 100
For specification, please see Section V of this Instrument.
DWR approval provided upon a determination that the site is meeting performance standards contained
within the approved BPDP.
B. DWR may modify Credit Release Schedules based on the information submitted or the order in
which required information is received. DWR will notify Sponsor of any modification to the
Credit Release Schedule.
C. Any major deviations to the Bank Parcel that are 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 Parcel.
Remainder of this page intentionally left blank.
13