20160979 Ver 2_Credit Release Task 1 & 7_6-2019_20190625

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
LINDA CULPEPPER
Director
Brad Breslow
EBX Neuse 1, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
NORTH CAROLINA
Environmental Quality
June 25, 2019
DWR Project #: 2016-0979v2
Johnston County
Re: RES Poplar Creek Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument
(LIMBI)
Poplar Creek Bank Parcel Credit Release — Task I & 7
Dear Mr. Breslow:
On February 1, 2019, the Division of Water Resources (DWR) approved a Bank Parcel Development
Package (BPDP) for the above -referenced site under the terms and conditions of the RES Poplar
Creek Buffer & Nutrient Offset Umbrella Mitigation Banking Instrument (UMBI)). On June 25,
2019, the DWR received a recorded conservation easement and corresponding plat for the subject
site from Resource Environmental Solutions, LLC (RES) on behalf of EBX Neuse 1, LLC (EBX).
Additionally, RES provided confirmation that the conservation easement for the subject site has been
successfully assigned to The North Carolina Wildlife Habitat Foundation, Inc (NCWHF). NCWHF
is a 501(c)(3) non-profit corporation and has been approved by DWR as a long-term steward for this
mitigation bank.
Lastly, DWR received a performance bond (#82522092) issued to EBX from Federal Insurance
Company, in the amount of $150,000, to cover performance obligations for the construction of the
subject site. The term of this bond is from June 7, 2019 through June 7, 2020.
In accordance with the UMBI, signed on January 16, 2019, the following Project Milestones have
been met and the corresponding credits shall be released:
Task/Milestones
'Credit
1) Instrument and BPDP Approved by DWR, Conservation Easement recorded, 20%
and Financial Assurance Posted
7) Item B (1) of Section X in the Instrument (assign the easement 5%
to stewardship) has been completed and approved by DWR
TOTAL: 25%
'Credit release percentages exclude the areas within the pond footprints.
By copy of this correspondence, DWR confirms that you have satisfied the above requirements for
the above -referenced tract and 25% of your Nitrogen nutrient offset credits
North Carolina Department of Environmental Quality I Division of Water Resources
512 North Salisbury Street 1 1617 Mail Service Center I Raleigh, North Carolina 27699-1617

Poplar Creek Site
EBX
June 25, 2019
(0.25 x 1,432 lb -N = 3581b -N) are now available to sell. Additionally, 25% of your Neuse buffer
Restoration credits (0.25 x 9,435.70 ft2 = 2,358.93 ft2) and 25% of your Neuse buffer Preservation
credits (0.25 x 8,148.87 ft' 2,037.22 W) are now available to sell. Lastly, 25% of your Neuse
buffer Enhancement credits from cattle exclusion (0.25 x 77,612.89 ft2 = 19,403.22 ft2) are now
available to sell. Neuse buffer Preservation and Enhancement credits should be depicted on the same
credit ledger.
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 in accordance with guidelines in the Consolidated Buffer Mitigation Rule, 15A
NCAC 02B .0295, which became effective on November 1, 2015.
Please use the Credit Ledger Templates provided on our website at:
http://portal.ncdenr.or web/wq/nutrientbuffertemplates to track and report credit availability for the
Hannah Bridge Mitigation Bank. Upon receiving this correspondence, please submit three credit
ledgers to DWR reflecting the available credits released for each mitigation type.
Please feel free to call [phone] if you have any questions regarding this correspondence.
Sincerely,
Katie Merritt
401 & Buffer Permitting Branch
cc:File Copy (DWR)
Caitlan Parker (EBX) — via electronic mail
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