Credit Release Task 2final -PickleCreekII.docx

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ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
April 3, 2024
Environmental Banc & Exchange, LLC DWR Project #: 2021-0348v3
Attn: Jamey Mceachran Wayne County
(via electronic mail: jmceachrangres.us
Re: RES Pickle Creek Phase 11 Nutrient Offset Banking Instrument (NOBI)
Pickle Creek Phase H Bank Parcel Credit Release — Task 2 (final)
Dear Ms. Mceachran,
On September 7, 2023, the Division of Water Resources (DWR) issued a partial credit release (10%)
for partial completion of the Task 2 milestone with the remaining 10% issued upon fully
implementing the riparian restoration efforts within the Miscanthus area. All documentation was
required to be included in the As -Built Report. On February 20, 2024, DVVR received documentation
from Environmental Banc & Exchange, LLC (EBX) that the remaining areas of Pickle Creek Phase
II site had been planted and constructed in its entirety and a monitoring plot had been installed. On
February 29, 2024, staff with DVv`R, with assistance from staff with EBX, inspected the site and
confirmed that the subject site had been adequately planted in most areas, monitoring plots were
installed and the conservation easement boundary for the site was adequately marked. On March 25,
2024, DWR received an As -Built Report for the subject site, which included documentation
regarding the efforts completed within the Miscanthus areas of the site.
Lastly, DVvTR received a continuation certificate for performance bond (#9409216) issued to EBX
from Fidelity and Deposit Company of Maryland, in the amount of $150,000, to cover performance
obligations for the construction of the subject site. The term of this bond ends August 30, 2024.
In accordance with the NOBI, signed on August 12, 2022, the following Project Milestones have
beenfully met and the corresponding credits shall be released:
Task/Milestones
Credit
2) All riparian site earthwork, planting and installation of monitoring devices 10%
Completed for both the Pickle Creek Full Delivery site and the Bank Parcel,
Easement boundaries adequately marked, & all applicable permits obtained.
A site visit performed by DVvR is required for this task (final)
By copy of this correspondence, DWR confirms that you have fully satisfied the above requirements
for the above -referenced tract and the following credits are released:
0 10% of the Nitrogen nutrient offset credits (0. 10 x 23,172.844 lb-N = 2,317.284 lb-N)
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: 2A3E33DO-BABA-4EA8-94BD-D3531BBEFFA4
Pickle Phase 11 Site
EBX
April 3, 2024
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.
Please feel free to call Katie Merritt, with DVVR, at [phone] if you have any questions
regarding this correspondence.
Sincerely,
Cc: DVVR File Copy (Blake Hartshorn)
Amy Staley - EBX (via electronic mail)
DocuSigned by,
28.
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
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