20160980 Ver 2_Credit Release Task 9 FINAL

DocuSign Envelope ID: 557F899E-El l8-4EA1-A2B4-5ACA373B3DBA
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
April 22, 2024
Jamey McEachran DWR Project #: 2016-0980v2
EBX Neuse 1, LLC Johnston County
(via electronic mail: [e-mail] )
Re: RES Neuse Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument (UMBI)
Meadow Spring Bank Parcel
Credit Release - Task 9 FINAL RELEASE & MONITORING CLOSEOUT
Dear Ms. McEachran:
On October 23, 2023, the Division of Water Resources (DWR) received a Year 5 Monitoring
Report from EBX Neuse 1, LLC (EBX) for the Meadow Spring Buffer Mitigation & Nutrient
Offset Bank (Site). On November 1, 2023, Katie Merritt with the DWR, visited the Site to
compare vegetation data submitted in the monitoring report with onsite conditions and to evaluate
the Site for closeout of the monitoring requirements for the riparian vegetation. Staff with EBX
were also present. As a result of the site visit evaluation, Ms. Merritt required EBX to submit a
remediation plan to address easement encroachments, stem mortality, supplemental planting,
easement sign repairs and other easement related concerns.
On April 11, 2024, EBX submitted documentation to DWR addressing how all remediation items
needed to address the issues observed on the site had been fully implemented. By copy of this
correspondence, DWR supports closing out the Site for any further monitoring and maintenance of
the riparian vegetation and conservation easement associated with the nutrient offset and buffer
mitigation credit areas. However, the conservation easement for the Site also includes the Meadow
Spring Stream Mitigation Bank (Stream Bank). Therefore, additional monitoring and maintenance
requirements for the Stream Bank will need to continue until closeout of the Stream Bank has been
authorized by the US Army Corps of Engineers and Interagency Review Team.
By copy of this letter, the monitoring requirements at the subject Site have been met and DWR is
releasing EBX from its financial assurance obligations under Performance Bond #9332404 in the
amount of $60,000 issued to EBX from Fidelity & Deposit Company of Maryland. Lastly,
according to DWR files, the Grantee of this Site's conservation easement is the North Carolina
Wildlife Habitat Foundation.
In accordance with the UMBI, signed on January 31, 2018, the following Project Milestones have
been met and the corresponding credits shall be released:
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
NORTH CARCLINA
919.707.9000

DocuSign Envelope ID: 557F899E-E118-4EA1-A2B4-5ACA373B3DBA Meadow Spring Site
EBX
April 22, 2024
Task/Milestones Credit
9) Monitoring Report #5: Approved by the DWR & final site visit by DWR 10%
has been conducted
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and 10% of your Nitrogen nutrient offset credits
(0.10 x 4,271 lb-N = 427.1 lb-N) are now available to sell. Additionally, 10% of your Neuse buffer
Restoration credits (0.10 x 192,368 ft2=19,236.80 ft2) and 10% of your Neuse buffer Enhancement
credits from cattle exclusion (0.10 x 26,805 ft2= 2,680.50 ft2) are now available to sell.
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.merritt(a deq.nc.gov if you have any questions regarding this correspondence.
Sincerely,
Es
DocuSigned by:�p�� �bSS
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Amy Staley (EBX/RES)
Todd Tugwell — USACE todd.j.tugwell&usace.gM.mil
Theodore Bethea — NC Wildlife Habitat Foundation beaubetheakgmail.com
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