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Home My WebLink About20201091 Ver 2_Task 4_ShadyGrove_MY1_Credit Release Request Form_20240422 3600 Glenwood Avenue, Suite 100 Raleigh, NC 27612 Corporate Headquarters 6575 West Loop South, Suite 300 Bellaire, TX 77401 Main: 713.520.5400 April 12, 2024 CREDIT RELEASE REQUEST FORM To: NCDEQ-DWR Nutrient Offset Coordinator From: Jamey McEachran, jmceachran@res.us, (919) 623-9889 Through: Environmental Banc and Exchange, LLC (EBX) We formally request a credit release for the Shady Grove Riparian Buffer and Nutrient Offset Mitigation Site (DWR Project # 2020-1091v2) for completion of Task #4: "Monitoring Report #1: Approved by the DWR** & financial assurance renewed" 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) Executed M&M Bond for Financial Assurances that will renew in August 2024, 2) Monitoring Report for MY1 that has been approved as of an email from Andrew Friedman-Herring on April 12th, 2024. Credits requested for release are detailed below: Credit Type % Release Credit Amount (Include Units) Notes/Comments Buffer Restoration 10 2,970.700 Buffer Preservation 10 198.040 Generated Nitrogen Nutrient Offset 10 2,894.285 Signature: Attachments: 1) Credit Release Schedule (PDF from Approved UMBI and Excel), 2) As-Built Credit Table, 3) EBX developed Credit Release Schedule with Credit Release Numbers 12 VIII. CREDIT RELEASE SCHEDULE A. Upon submittal of all appropriate documentation by the Sponsor, and subsequent approval by DWR, it is agreed that the Riparian Buffer Credits and Nutrient Offset Credits associated with each individual Bank Parcel will become available for sale to a third party in accordance with Credit Release Schedule in Table 3.0 below. 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, Conservation Easement Recorded* and Financial Assurance Posted 20 2 All Riparian Earthwork & Mitigation Activities, Planting and Installation of Monitoring Devices completed, easement boundaries adequately marked, all applicable permits obtained, site visit performed by DWR 20 3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10 4 Monitoring Report #1: Approved by the DWR** & Financial Assurance Posted 10 5 Monitoring Report #2: Approved by the DWR** & Financial Assurance Posted 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. 5 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 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 B. 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 Parcel 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 1. Shady Grove, 2020‐1091v2, 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) Buffer Rural Yes I / P Restoration 0‐100 DJ1 13,775 13,775 1 100% 1.00000 Yes 13,775.000 Yes 718.798 — Buffer Rural No I / P Restoration 0‐100 DJ2 15,932 15,932 1 100% 1.00000 Yes 15,932.000 Yes 831.353 — Nutrient Offset Rural No Ditch Restoration 0‐100 DJ3, DJ5 211,491 1 100% No — Yes 11,035.883 — Nutrient Offset Rural Yes I / P Restoration 101‐200 DJ1 90,166 1 33% No — Yes 4,704.982 — Nutrient Offset Rural No I / P Restoration 101‐200 DJ2 29,237 1 33% No — Yes 1,525.626 — Nutrient Offset Rural No Ditch Restoration 101‐200 DJ3, DJ5 223,765 1 33% No — Yes 11,676.357 — Nutrient Offset Rural No Ditch Restoration 0‐100 Non‐diffused Flow Deductions (DJ3)4,350 1 100% No — No — — Nutrient Offset Rural No Ditch Restoration 101‐200 Non‐diffused Flow Deductions (DJ3)4,350 1 33% No — No — — ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— ——— Totals (ft2):593,066 29,707 29,707.000 30,492.999 0.000 Total Buffer (ft2):29,707 29,707 Total Nutrient Offset (ft2):563,359 N/A Total Ephemeral Area (ft2) for Credit:00 Total Eligible Ephemeral Area (ft2):9,902 0.0%Ephemeral Reaches as % TABM Enter Preservation Credits Below Total Eligible for Preservation (ft2):9,902 25.0%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 Rural Yes I / P0‐100 DJ1 137,815 0 10 100% — Buffer Rural No I / P0‐100 DJ2 18,013 9,902 5 100% 5.00000 1,980.400 Buffer Rural Yes I / P 101‐200 DJ1 16,806 0 10 33% — Rural No I / P 101‐200 DJ2 4,031 0 5 33% — Preservation Area Subtotals (ft2):176,665 9,902 Square Feet Credits 29,707 29,707.000 0 0.000 9,902 1,980.400 39,609 31,687.400 Square Feet Credits Nitrogen:28,942.848 Phosphorus:0.000563,359 TOTAL AREA OF BUFFER MITIGATION (TABM) TOTAL NUTRIENT OFFSET MITIGATION Mitigation Totals Nutrient Offset: Preservation: Total Riparian Buffer: Neuse 03020201 ‐ Outside Falls Lake 19.16394 N/A Restoration: Enhancement: Mitigation Totals 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 Original Mit Plan Credits 28,515.000 950.500 28,225.981 Riparian Buffer and Nutrient Offset Credit Release Schedule TOTAL (As-Built) Credits: 29,707.000 1,980.400 28,942.848 Credit Release # % Restoration* Preservation* Nitrogen* 1 Instrument and BPDP Approved by DWR, Conservation Easement Recorded and Financial Assurance Posted 20% 5,941.400 396.080 5,788.570 2 All Riparian Earthwork & Mitigation Activities, Planting and Installation of Monitoring Devices completed, easement boundaries adequately marked, all applicable permits obtained, site visit performed by DWR 20% 5,941.400 396.080 5,788.570 3 Monitoring Financial Assurance Posted and Approval of As-Built Report 10% 2,970.700 198.040 2,894.285 4 Monitoring Report #1: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285 5 Monitoring Report #2: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285 6 Monitoring Report #3: Approved by the DWR** & financial assurance renewed 10% 2,970.700 198.040 2,894.285 7 Item B (1) of Section X in this Instrument has been completed and approved by DWR. 5% 1,485.350 99.020 1,447.142 8 Monitoring Report #4: Approved by the DWR** & financial assurance renewed 5% 1,485.350 99.020 1,447.142 9 Monitoring Report #5: Approved by the DWR** and final site visit by DWR has been conducted 10% 2,970.700 198.040 2,894.286 *Numbers are based on As-Built credit amounts.