20120144 Ver 2_Credit Release Task 5 final_20171206

Water Resources
Environmental Quality
December 6, 2017
John Hutton
312 West Millbrook Rd, Suite 225
Raleigh, NC 27609
ROY COOPER
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MICHAEL S. REGAN
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LINDA CULPEPPER
DWR Project #: 2012-0144v2
hrlerim Drreclol
Re: Neuse Riparian Buffer & Nutrient Umbrella Mitigation Banking Instrument (LIMBI)
Caraway Creek (Phase I) Mitigation Bank
Credit Release - Task 5 final
Dear Mr. Hutton:
On November 14, 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 Wildlands Engineering, Inc. on behalf of Wildlands Holdings II, LLC (WHII) for
the Caraway Creek 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 December 1, 2017 and December 5, 2017, DWR received a bond rider and a continuation
certificate respectively, from WHII in the amount of $60,000 from Travelers Casualty and Surety
Company of America, extending the expiration date of the current performance bond
(#106405077). The term of this bond now applies through November 30, 2018. Therefore,
WHII is required to renew the performance bond prior to November 30, 2018 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 LIMBI, signed on June 10, 2014 and modified on April 2, 2015, the following
Project Milestones have been fully met, and the corresponding credits shall be released:
Task/Milestones
5) Monitoring Report #2: Approved by the DWR (final)
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 138,693 ft2 =
6,934.65 ft2) are now available for sale. Additionally, 5% of your nitrogen nutrient offset credits
(0.05 x 53,097.75 lb -N = 2,654.891b -N) are now available for sale.
- ` _Nothing Compares`=-.__.
State of North Carolina I Environmental Quality
1611 Mail Service Center I Raleigh, North Carolina 27699-1611
919-707-9000

Caraway Creek Mitigation Bank
December 6, 2017
Page 2 of 2
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 .0240. 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 1, 2015.
Please feel free to call Katie Merritt at [phone] if you have any questions regarding this
correspondence.
Sincerely,
Karen Higgins, Supervisor
401 & Buffer Permitting Branch
KAH/km
cc:File Copy (Katie Merritt)
Robert Bugg — Wildlands Holdings Il, LLC (via electronic mail; rbugg,gwildlandseng com )
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