20140704 Ver 2_Credit Release Task 6 final_20181119

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
LINDA CULPEPPER
Interim Director
NORTH CAROLINA
Environmental Quality
November 19, 2018
DWR Project #: 2014-0704v2
Brad Breslow Johnston County
EBX Neuse 1, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
Re: EBX Neuse Riparian Buffer Umbrella Mitigation Bank Instrument (UMBI)
Buffalo Branch Bank Parcel Credit Release — Task 6 final
Dear Mr. Breslow:
On October 22, 2018, the Division of Water Resources (DWR) issued a 5% credit release for partial
completion of Task 6. The release was issued for approval of the Year 3 Monitoring Report
submitted by EBX Neuse I, 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 October 30, 2018, DWR received a bond rider and performance bond (#SU04599) issued to EBX
to cover monitoring and maintenance at the subject site. The term of this bond applies through
December 31, 2019. Therefore, EBX will be required to renew the bond annually for at least two (2)
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
met, and the corresponding credits shall be released:
Task/Milestones
Credit
6) Approval of Year 3 Monitoring Report (final) 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 ft2 =
30,927.60 ft') excluding Preservation are now available to sell. Additionally, 5% of your Neuse
riparian buffer Preservation credits (0.05 x 29,621 ft = 1,481.05 ft2) are now available to sell.
Lastly, 5% of your nitrogen nutrient offset credits (0.05 x 15,843 lb -N = 792.15 lb -N) are now
available to sell.
D_EQ�
DOW
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
919.707.9000

Buffalo Branch
EBX
November 19, 2018
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 1, 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.
KAIHVk n
cc: File Copy (Katie Merritt)
Caitlan Parker — EBX (via electronic mail)
Sincerely,
i
Karen Higgins, Supervisor
401 and Buffer Permitting Branch
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