Conservation Group Buying Paper Company Land in Three States
http://forests.org/-- Forest Conservation Archives
12/10/98
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Title: Conservation Group Buying Paper Company Land in Three States
Source: The Associated Press
Status: Copyrighted, contact source to reprint
Date: 12/10/98
MONTPELIER, Vt. (AP) -- A conservation group's purchase of
more than 296,000 acres of land in three New England states
was praised as a deal that will preserve a blend of
forest-based recreation and industry.
The Conservation Fund announced Wednesday that it will pay
$76.2 million for the land that the Champion International
paper company has had on the auction block for more than a
year.
The land in Vermont's Northeast Kingdom, New York's
Adirondacks and New Hampshire's North Country supports
diverse fish and wildlife as well as vital recreation and
timber resources.
"This sale is a major achievement," said Sen. Patrick Leahy,
D-Vt. "It can stand as one of the most significant
conservation efforts in the state of Vermont. What a way to
end this century."
The Conservation Fund described the deal as the "largest
public-private, multistate conservation partnership in U.S.
history." The Arlington, Va.,-based organization does not
plan to be the long-term owner of the wilderness.
Some of the land, perhaps 30 percent, will be sold to the
state and federal governments for long-term conservation.
The rest of the land will be offered for resale to private
groups and individuals. The land will carry deed
restrictions requiring public access for recreation, fishing
and hunting, as Champion has long permitted.
"Our purpose ... is to blend economic development -- jobs --
with conservation," said Patrick Noonan, chairman of the
Conservation Fund.
Noonan and others say they hope to preserve the way of life
in the rural areas -- where moose and snowmobiles share
acres of logged land and regenerated forests.
Champion Chief Executive Richard E. Olson said the effort to
maintain that balance was part of the reason his company
agreed to sell the land at roughly 10 percent below its
market value.
Champion decided to liquidate its timber stands in New York,
Vermont and a portion of New Hampshire so it can consolidate
its holdings closer to a mill in Maine.
More than 10 bidders, including developers, foreign
investors, timber funds and Wall Street investment
partnerships, tried to buy the land.
The Conservation Fund formed a series of partnerships with
private investors, foundations, public agencies and
nonprofit groups to buy the land. The Richard King Mellon
Foundation and the Freeman Foundation are providing the lead
funding.
The Vermont Land Trust will help the fund manage the land
and find private buyers willing to manage it for timbering.
Copyright 1998& The Associated Press.