Credit Release Task 2 - Creeping Swamp C-D.docx

DocuSign Envelope ID: 912088D5-5FD9-479F-AEF4-0254E56885AB
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
NORTH CAROLINA
Environmental Quality
May 8, 2024
Restoration Systems, LLC DWR ID# 2022-0620v4
Attn: Barrett Jenkins Craven 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 2
Dear Mr. Jenkins:
On March 11, 2024, the Division of Water Resources (DWR) received documentation from
Restoration Systems, LLC (RS) that the Creeping Swamp Phase CD site had been planted and
constructed in its entirety and monitoring plots had been installed. On April 11, 2024, staff with
DWR, with assistance from staff with RS, 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 has been adequately marked.
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
2) All riparian Earthwork, Planting & Installation of monitoring devices 20%
completed, easement boundaries adequately marked, and all applicable
permits obtained. A site visit by DWR was performed
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: 912088D5-5FD9-479F-AEF4-0254E56885AB Creeping Swamp Phase CD Site
Restoration Systems, LLC
May 8, 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.
Upon receiving this correspondence update credit ledgers accordingly. Please feel free to contact
Katie Merritt at katie.merritt ckdeq.nc.gov if you have any questions regarding this correspondence.
Sincerely,
DocuSigned by:
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
cc:File Copy (Blake Hartshorn)
Caitlyn Parker — (RS/Davey — via electronic mail)
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