20201938 Ver 2_Credit Release Task 2

DocuSign Envelope ID: DF71767B-B341-431F-BD79-13F53B5A914E
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
John Hutton
NORTH CAROLINA
Environmental Quality
April 2, 2024
Wildlands Holdings IX, LLC
(via electronic mail: jhuttongwildlandseng.com
Re: Loop Road Mitigation Banking Instrument (MBI)
Loop Road Bank Parcel Credit Release — Task 2
Dear Mr. Hutton:
DVV'R Project #: 2020-1938v2
Wayne County
On January 18, 2024, the Division of Water Resources (DVVR) received documentation from
Wildlands Holdings IX, LLC (Wildlands) that the Loop Road site had been planted and constructed
in its entirety and monitoring plots had been installed. On January 31, 2024, staff with DVVR, with
assistance from staff with Wildlands, inspected the site and confirmed that the subject site had been
adequately planted and that all monitoring plots were installed. Additionally, the conservation
easement boundary for the site was adequately marked. DWR staff observed the following during
the inspection:
• A flooded depressional area near plot 3 was observed as an area of concern due to its
inundated condition during the site visit. DWR staff noted that this area had been adequately
planted. It was discussed that Wildlands would need to add a vegetation plot in this area and
monitor the plot for all five years of monitoring. Wildlands elected to install a circular plot
and is to provide both plot photos and plot baseline vegetation data to be submitted with the
As -Built Report.
• A pipe flowing into D I was determined as creating non -diffused flow within the riparian
restoration areas. Wildlands is required to seal the end of the pipe and provide photo
documentation of completing this effort in the As -Built Report.
• Live stakes were planted in D I but were difficult to discern during the site visit. DWR
requested Wildlands include photos of the top of D I in the As -Built Report and subsequent
monitoring reports to assess live stake conditions within this area.
DVVTR received a performance bond (#107889543) issued to Wildlands from Travelers Casualty and
Surety Company of America, in the amount of $150,000, to cover performance obligations for the
construction of the subject site. The term of this bond will remain in effect until DVVR has provided
a written approval of the As -Built Report.
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
919.707.9000
4NORT�HCA�RCLINA�

DocuSign Envelope ID: DF71767B-B341-431F-BD79-13F53B5A914E
Loop Road Site
Wildlands
April 2, 2024
In accordance with the MBI, signed on August 11, 2023, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones
Credit
2) All Riparian Earthwork & Mitigation Activities, Planting and Installation of 20%
Monitoring Devices completed, easement boundaries adequately marked, all
Applicable pennits obtained, site visit performed by DVY`R
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and therefore, the following credits are being released and are now
available to sell:
0 20% of the Neuse buffer Restoration credits (0.20 x 30,838 ft2 = 6,167.600 ft2)
* 20% of the Nitrogen nutrient offset credits (0.20 x 25,460.014 lb-N = 5,092.003 lb-N)
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 receipt of this correspondence, update all credit ledgers accordingly. Please feel free to contact
Katie Merritt at katie.merrittgdeq.nc.gov if you have any questions regarding this correspondence.
Sincerely,
E DocuSigned by*
28.
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Camden Brunick (Wildlands) — via electronic mail
Page 2 of 2