Parkland grows near Sooke
Aug 04 2012
The Land TransferPhotograph by: Times Colonist , timescolonist.com (August 2012)
The Capital Regional District parkland is getting bigger this month, with the transfer of 250 hectares from Western Forest Products.
The land adjacent to the Sooke Potholes Regional Park is valued at $1.3 million.
The transfer by WFP of another parcel of land, 60.5 hectares valued at $4.5 million near Jordan River, will take place in December.
The transfers are the final pieces of a larger deal between the CRD and WFP involving 2,350 hectares of park and watershed lands at a cost of $18.8 million, paid in three annual instalments since the deal was solidified in 2010.
The bulk of the money is coming from the CRD Regional Parks Land Acquisition Fund.
The province is kicking in $2 million, private partners $265,000, while the The Land Conservancy contributed $250,000.
TLC initially promised to try to raise funds to contribute about $3 million - including $1,870,138 toward the Sooke and Jordan River parcels - but advised the CRD it was unable to follow through.
The non-profit land trust is going through financial difficulties, and this week its creditors accepted an offer to receive interestonly payments on loans.
The CRD will borrow the funds to cover the payment.
In total, 1,500 hectares valued at $15.6 million will go to CRD Parks. The balance will be watershed lands.
Notice: Undefined index: event in /home/viccity/public_html/v2/content.php on line 67