Credit Release Task 1 - Creeping Swamp C-D.docx

DocuSign Envelope ID: 83C418A7-D1E2-4907-B4B6-3E5BF8D8152A
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
February 23, 2024
Restoration Systems, LLC DWR ID# 2022-0620v4
Attn: Barrett Jenkins Jones County
(via electronic mail: barrett.jenkinskdavey.com )
Re: Restoration Systems' Neuse 02 Nutrient Offset Umbrella Banking Instrument (NUBI)
Creeping Swamp Phase CD Bank Parcel Credit Release — Task I
Dear Mr. Jenkins:
On November 15, 2023, the Division of Water Resources (DWR) approved a Bank Parcel
Development Package (BPDP) for the above -referenced site under the terms and conditions of the
Neuse 02 Nutrient Offset Umbrella Banking Instrument (NUBI) made between Restoration Systems,
LLC (RS) and DWR, to establish a nutrient offset bank. On January 26, 2024, DWR received
recorded conservation easements and a corresponding plat for the subject site.
DWR received a performance bond (#K41819078) issued to RS from Federal Insurance Company, 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 DWR has provided a written approval of the As -
Built Report.
In accordance with the NUBI, signed on November 14, 2023, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones Credit
1) Banking Instrument and BPDP Approved by DWR, Conservation Easement 20%
Recorded & Financial Assurance Posted
TOTAL: 20%
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:
• 20% of the Nitrogen nutrient offset credits (0.20 x 219,285.700 lb-N = 43,857.140 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
NORTH CARCLINA
919.707.9000

DocuSign Envelope ID: 83C418A7-D1E2-4907-B4B6-3E5BF8D8152A Creeping Swamp Phase CD Site
Restoration Systems, LLC
February 23, 2024
Please note that nutrient offset credits generated at this site must be used for impacts in HUC
03020202 of the Neuse River Basin pursuant to 15A NCAC 02B .0703, which became effective
on April 1, 2020.
Please use the Credit Ledger Templates provided in the approved NUBI to track and report credit
availability for the Creeping Swamp Phase CD Mitigation Bank. Upon receiving this
correspondence, please submit one (1) credit ledger to DWR reflecting the available credits released
for each mitigation type (Nitrogen Nutrient Offset).
Please feel free to contact Katie Merritt at katie.merritt(cr�,deq.nc.gov if you have any questions
regarding this correspondence.
Sincerely,
DocuSigned by:
5��� GbSS
755ABFOCD80B428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker — (RS/Davey — via electronic mail)
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