20110720 Ver 2_Credit Release Task 8 final_6-2019_20190620

ROY COOPER
Governor
MICHAEL S. REGAN
Secretary
LINDA CULPEPPER
Director
Brad Breslow
Environmental Banc & Exchange, LLC
302 Jefferson Street, Suite 110
Raleigh, NC 27605
NORTH CAROLINA
Environmental Quality
June 20, 2019
DWR Project #: 2011-0720v2
Orange County
Re: Upper Neuse River Basin Umbrella Mitigation Banking Instrument (LIMBI)
Cedar Grove Bank Parcel Credit Release - Task 8 final
Dear Mr. Breslow:
On October 19, 2018, the Division of Water Resources (DWR) issued a partial (2.5%) credit
release letter to Environmental Banc & Exchange, LLC (EBX) for partial approval of the Year 4
Monitoring Report for the subject site. It was noted in the letter, that when DWR has
received confirmation of renewal of the subject bond for another year, the remainder 2.5%
of this credit release will be issued.
On May 14, 2019, DWR received a performance bond (SU04600) issued to EBX by Aspen
American Insurance Company for the subject site and replacing the bond (#RLB0016052)
issued by RLI Insurance Company. On June 18, 2019, DWR received a continuation certificate
for bond # SU04600. This bond expires on June 9, 2020.
According to the UMBI signed on February 10, 2012, the following Project Milestones have
been met, and the corresponding credits shall be released:
Task/ Milestones Credit
8) Year 4 Monitoring Report approved by DWR (final) 2.5%
By copy of this correspondence, DWR confirms that you have satisfied the above
requirements for the above -referenced tract and 2.5% of your Neuse riparian buffer
credits (0.025 x 640,486 ft2 = 16,012.15 ft2) are available to sell. Additionally, 2.5% of
your nitrogen nutrient offset credits (0.025 x 55,052.54 Ib -N = 1,376.311b -N) are available
to sell. Lastly, 2.5% of your phosphorous nutrient offset credits (0.025 x 3,545.81 lb -P =
88.651b -P) are available to sell.
D_E Q 4 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
919.707.9000

Cedar Grove
EBX
June 20, 2019
Please note that nutrient offset credits generated at this site must be used for
impacts in HUC 03020201 of the Neuse River Basin which includes only the Upper
and Lower Falls Watersheds as defined in 15A NCAC 02B.0276. Additionally, the
riparian buffer credits must be used for impacts in the Neuse River Basin according
to guidelines in the Consolidated Buffer Mitigation Rule, 115A 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,
earen Higgins, Supervisor
401 and Buffer Permitting Branch
KAH/km
cc: File Copy (Katie Merritt)
Caitlan Parker - EBX (via electronic mail)
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