B.C. Supreme Court has approved the sale of Wildwood Ecoforest to the Ecoforestry Institute Society for $800

Court approves sale of Wildwood forest

NANAIMO – B.C. Supreme Court has approved the sale of Wildwood Ecoforest to the Ecoforestry Institute Society for $800,000.

B.C. Supreme Court has approved the sale of Wildwood Ecoforest to the Ecoforestry Institute Society for $800,000.

The Land Conservancy, a non-profit, was looking to sell the 31-hectare Cedar site due to multi-million dollar debt. The society, another non-profit, had made previous unsuccessful bids. The conservancy subsequently accepted a deal from ecoforester Mark Randen in July, something the society was against.

The issue was before B.C. Supreme Court and on Tuesday, the society’s bid for Wildwood – $665,000 in funds and $135,000 of creditor forgiveness – was approved.

Cathy Armstrong, The Land Conservancy executive director, said a significant piece of evidence entered in the proceedings was a statement by Herb Hammond, an ecoforester considered an expert and hired by the society, who said the society’s management plan “was superior.”

B.C. Supreme Court Judge Shelley Fitzpatrick noted the previous failure of the society to close previous deals and ordered a sealed bid process. As part of that, the society was required to provide proof of the money committed, said Armstrong.

The society was able to provide that and with money matters demonstrated and Hammond’s affidavit, the conservancy board re-evaluated and decided to back the society’s bid, as it was superior financially and had the expert testimony, said Armstrong.

Kathy Code, society spokeswoman, said it was able to secure the money through a fundraising campaign.

“We ran a six-day Last Stand for Wildwood campaign. At that point we had a benefactor step forward who offered to not only double, but triple people’s donations and threw in some cash himself and by the end of that six days we had $250,000 raised. We also have a mortgage with Vancity,” said Code.

That together with creditor debt forgiveness enabled the society to raise the money, Code said.

The deal has a closing date of Dec. 20.

Just Posted

Striking Western Forest Products workers could lose benefits in September

Union, forest company at odds over Vancouver Island benefit payments as strike enters third month

$5-million lotto ticket sold in Nanaimo

Someone matched all six numbers in Wednesday’s 6/49 draw

Beefs & Bouquets, Aug. 22

To submit a beef or a bouquet to the Nanaimo News Bulletin, e-mail bulletinboard@nanaimobulletin.com

VIEX all set for 125th anniversary fair

Vancouver Island Exhibition taking place at Nanaimo’s Beban Park from Aug. 23-25

Nanaimo’s ‘Kidney Condo’ accommodates out-of-town dialysis patients

Facility first of its kind on Vancouver Island, according to Kidney Foundation of Canada

VIEX all set for 125th anniversary fair

Vancouver Island Exhibition taking place at Nanaimo’s Beban Park from Aug. 23-25

B.C. family stranded in Croatia desperate to come home

Funds being raised to bring back mom and two children

B.C. man tells judge he attempted suicide a month before daughters’ murders

Andrew Berry takes stand in his defense for December 2017 deaths of young daughters

‘Plenty of time for a deal’: Teachers’ union expects kids back in school on Sept. 3

BCTF says class size, composition at the heart of the issue

Province funds new shuttle buses for 13 B.C. senior centres

Activity, socializing helps maintain health, Adrian Dix says

BREAKING: Province approves Surrey police force

Minister of Public Safety Mike Farnworth green-lights city’s municipal police force

Thermal imaging cameras eye Salish Sea in hopes of better detecting whales

Cameras installed at BC Ferries’ terminal on Galiano Island, and off southern Gulf Islands

Police watchdog investigating two officers after Langley teen’s suspected overdose

According to IIO, two officers were deployed to help Carson Crimeni but did not locate him before he died

Most Read