20150636 Ver 1_Credit Release (Ph II) Task 2_20170202

Water Resources
ENVIRONMENTAL QUALITY
February 2, 2017
Mike Hermann
Watershed Investments NC,, LLC
1630 Weatherford Circle
Raleigh, NC 27604
Re: Neville Farms Mitigation Bank Instrument (MBI)
Neville Farms Phase II Bank Parcel Credit Release — Task 2
Dear Mr. Hennann:
ROY COOPER
MICHAEL S. REGAN
Scci cla
S. JAY ZIMMERMAN
Dir ecic�
DWQ Project #: 2015-0636
Orange County
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 submitted by Watershed
Investments NC, LLC (WINC) on May 10, 2016. 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 the subject site. The term of the bond is until June 23,
2017 and will terminate upon DWR approval of the As -Built Reports for both Phase I and Phase II.
On January 19, 2017, Katie Merritt with DWR received documentation from WINC that the
subject site had been constructed in its entirety and monitoring plots had been installed. On
January 31, 2017, Ms. Merritt, with your assistance, inspected the site and confirmed that all of
Phase II at the subject site had been completely planted and 2 monitoring devices had been
installed in accordance with the BPDP.
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
2) Mitigation Site Earthwork, Planting & Installation of Monitoring 20%
Devices Completed
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 ft2 = 557.56 ft2) and 20% of your Jordan Lake riparian buffer Restoration credits
(0.20 x 51,400.8 ft2 = 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.
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
WINC
February 2, 2017
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
IMMMIAMIT
cc: File Copy (Katie Merritt)
Sincerely,
�x n , n � 4��
Karen Higgins, Supervisor
401 and Buffer Permitting Branch
��<1„ 2 1 2