Credit Release Task 4 - SassafrasPh2.docx

DocuSign Envelope ID:2291F099-FF59-47A9-8FF9-7520674D96E8
ROY COOPER
Governor
ELIZABETH S. BISER
Secretary
RICHARD E. ROGERS, JR.
Director
Environmental Banc & Exchange, LLC
NORTH CAROLINA
Environmental Quality
May 16, 2024
DWR Project #: 2021-07540
Attn: Jamey McEeachran Wayne County
(via electronic mail: jmceachran(c-r�,res.us )
Re: RES 2022 Phase II Umbrella Mitigation Banking Instrument (UMBI)
Sassafras Phase II Bank Parcel Credit Release — Task 4
Dear Ms. McEeachran,
On January 12, 2024, the Division of Water Resources (DWR) received a Year 1 Monitoring Report
from Environmental Banc & Exchange, LLC (EBX) for the Sassafras Phase II site. Overall, site
conditions appear to look good, performance standards for vegetation are met and a minor
encroachment (<O.Iacre) within the conservation easement areas was observed and noted. A
supplemental planting within the area of encroachment is required to be completed and documented
prior to approval of the Year 2 Monitoring Report. Additionally, written communication needs to be
provided in the future if any other encroachments occur on the site.
DWR received a bond rider for performance bond (#9433258) issued to EBX from Fidelity and
Deposit Company of Maryland, in the amount of $100,000, to cover monitoring and maintenance at
the subject site. The term of this bond ends December 31, 2024. Future credit releases will be
dependent on both the renewal of this performance bond and the annual monitoring reports.
In accordance with the UMBI, signed on April 22, 2022, the following Project Milestones have been
met and the corresponding credits shall be released:
Task/Milestones Credit
4) Monitoring Report #1: Approved by the DWR & financial assurance renewed 10%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and the following credits are released:
• 10% of the Nitrogen nutrient offset credits (0.10 x 28,120.835 lb-N = 2,812.084 lb-N) 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.
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:2291F099-FF59-47A9-8FF9-7520674D96E8
Sassafras Phase II Site
EBX
May 16, 2024
Please feel to contact Katie Merritt at kate.merrittgdeq.nc.gov if you have any questions regarding
this correspondence.
cc:File Copy (Katie Merritt)
Amy Staley (EBX) — via electronic mail
Sincerely,
EsDocuSigned by:
p�t' �bSS
755ABFOCD8OB428...
Stephanie Goss, Supervisor
401 & Buffer Permitting Branch
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