20140704 Ver 2_Credit Release Task 5 final_20171130

Water Resources
ENVIRONMENTAL QUALITY
November 30, 2017
Daniel Ingram
EBX Neuse 1, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
ROY COOPER
Gorernor
MICHAEL S. REGAN
Secretai'v
LINDA CULPEPPER
Interim Director
DWQ Project #: 2014-0704v2
Johnston County
Re: EBX Neuse Riparian Buffer Umbrella Mitigation Bank Instrument (LIMBI)
Buffalo Branch Buffer & Nutrient Offset Bank Parcel Credit Release — Task 5 final
Dear Mr. Ingram:
On October 24, 2017, the Division of Water Resources (DWR) issued a 5% credit release for partial
completion of Task 5. The release was issued for approval of the Year 2 Monitoring Report
submitted by EBX Neuse 1, LLC (EBX) for the Buffalo Branch Mitigation Bank. It was noted in the
credit release letter that the remaining 5% of the credit release would be issued upon receipt of bond
renewal.
On November 3, 2017, DWR received a continuation certificate for performance bond
(#RLB0016536) issued to EBX to cover monitoring and maintenance at the subject site. The term of
this bond applies through July 19, 2019. Therefore, EBX is required to renew the performance bond
prior to July 19, 2019 and is required to renew the bond annually for at least 3 more years. Future
credit releases will be dependent on both the renewal of this performance bond and the approval of
the annual monitoring reports
According to the UMBI signed on November 10, 2008, the following Project Milestones have been
partially met, and the corresponding credits shall be released:
Task/Milestones
5) Approval of Year 2 Monitoring Reportfinal)
Credit
5%
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and 5% of your Neuse riparian buffer credits (0.05 x 618,552 ft' =
30,927.60 ft') excluding Preservation are now available for sale. Additionally, 5% of your Neuse
riparian buffer Preservation credits (0.05 x 29,621 ft2 = 1,481.05 ft') are now available for sale.
Lastly, 5% of your nitrogen nutrient offset credits (0.05 x 15,843 lb -N = 792.15 lb -N) are now
available for sale.
State of North Carolina I Environmental Quality I Water Resources
1617 Mail Service Center I Raleigh, North Carolina 27699-1617
919 807 6300

Buffalo Branch Bank Parcel
EBX Neuse 1, LLC
November 30, 2017
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 Watershed. Additionally, the riparian
buffer credits must be used for impacts in the Neuse River Basin according to guidelines in the
Consolidated Buffer Mitigation Rule, 15A NCAC 02B.0295, which became effective on
November 19 2015. Additionally, buffer Preservation credits cannot be converted into nutrient
offset credits.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
KAH/kym
cc: File Copy (Katie Merritt)
Cara Conder —EBX (via electronic mail)
Sincerely,
Karen Higgins, Supervisor
401 and Buffer Permitting Branch
Pige 212