Optimism rises for Wildwood Land
Land Conservancy considers Ecoforestry Institute Society’s $900,000 purchase offer for property
There were two small victories this week for the self-described guardians of a sustainable demonstration forest once operated by the late Merv Wilkinson in Yellow Point.
The Land Conservancy is considering the Ecoforestry Institute Society’s $900,000 purchase offer on the property.
That was Monday. Then on Tuesday a crucial B.C. Supreme Court hearing passed without removing the property’s protected status.
Monday at 2 p.m. was TLC’s deadline to respond to the purchase offer, which was recently increased from an earlier offer of $600,000.
A few hours short of the deadline TLC came back with a request for a one-week extension to further consider it.
“This is the first time TLC has stated an intent to consider our bid and we are pleased to enter into serious negotiations on the basis of this strong offer,” said EIS chairman Peter Jungwirth.
Madam Justice Shelley C. Fitzpatrick heard TLC’s application Tuesday to change its bylaws to allow the sale of 28 of its properties, to help clear some of its $8 million in debts.
TLC needed that court approval to strike an “inalienability” clause from its bylaws which prevented it from transferring 28 of its properties to The Nature Conservancy of Canada and The Nature Trust of B.C. Supporters worried that could spill over to Wildwood. “The judge allowed the 28 properties, leaving Wildwood protected,” said Kathy Code, spokeswoman for the group.
Darrell.Bellaart @nanaimodailynews.com 250-729-4235