20150636 Ver 1_Credit Release (Ph II) Task 1_20161020

PAT MCCRORY
>.. Governor
DONALD R. VAN DER VAART
Secretor,
WaterResources S. JAY ZIMMERMAN
ENVIRONMENTAL QUALITY
Director
October 20, 2016
DWQ Project#: 2015-0636
Orange County
Mike Hermann
Watershed Investments NC, LLC
1630 Weatherford Circle
Raleigh,NC 27604
Re: Neville Farms Mitigation Bank Instrument(MBI)
Neville Farms Phase II(McGee/Tract 1)Bank Parcel Credit Release—Task I
Dear Mr. Hermann:
On June 9, 2016, the Division of Water Resources(DWR) approved a Bank Parcel Development
Package(BPDP) for the Neville Farms Buffer and Nutrient Offset Bank(Bank) submitted by
Watershed Investments NC, LLC (WINC) on May 10, 2016. This BPDP was approved as a phased
project. Phase I is on the Gambill property and Phase II is on the McGee property. On June 27,
2016, DWR received a performance bond(#CE01492400035) for WINC with Philadelphia
Indemnity Insurance Company, to cover performance obligations for the construction of Phase I and
Phase II of the Bank. The term of the bond is through June 23, 2017 and will terminate upon DWR
approval of the As-Built Report/s for both Phase I and Phase II. On October 18, 2016,the DWR
received a signed and recorded conservation easement for the subject site.
According to the MBI signed on January 7, 2016, the following Project Milestones for Phase II have
been met, and the corresponding credits shall be released:
Task/Milestones Credit
1) MBI and BPDP Approved by DWR, Conservation Easement Recorded 20%
And Financial Assurance Posted
TOTAL: 20%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above-referenced tract. Therefore, 20% of your Jordan Lake riparian buffer Preservation credits
(0.20 x 2,787.8 ftz=557.56 ft )and 20% of your Jordan Lake riparian buffer Restoration credits
(0.20 x 51,400.8 ft'= 10,280.16 ft2)are now available for sale
The riparian buffer Preservation and Restoration credits must be used for authorized impacts
in the Upper New Hope Sub-watershed according to guidelines in the Consolidated Buffer
Mitigation Rule, 15A NCAC 02B .0295,which became effective on November 1,2015.
Please use the Credit Ledger Templates submitted with the MBI to track and report credit availability
for the Neville Farms Phase II Bank Parcel. Upon receiving this correspondence, please submit two
credit ledgers to DWR reflecting the availability of credits released for each mitigation type.
State of North Carolina I Environmental Quality I Water Resources
1617 Mail service Center I Raleigh,North Carolina 27699-1617
919 807 6300

Neville Farms Phase II
October 20, 2016
Page 2 of 2
Please feel free to call Katie Merritt at(919) 807-6371 if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supervisor
401 and Buffer Permitting Branch
KAH/kym
cc: File Copy(Katie Merritt)