Olympic Property Group Still Advocates Preservation of Forestland
By Admin
From the Kitsap Sun:
The effort to protect 7,000 acres of forestland in North Kitsap moved into a new phase Wednesday, when Olympic Property Group and Cascade Land Conservancy announced that they had worked out an option agreement for sale of the property.
The detailed agreement gives Cascade Land Conservancy 18 months to come up with a down payment or other financing needed to purchase some or all of the 7,000 acres, according to Michelle Connor, executive vice president for Cascade Land Conservancy. The price of the land would be based on an appraisal at the time of the sale.
Market conditions for timberland fluctuate too rapidly to provide a price estimate, said Jon Rose of Olympic Property Group, a subsidiary of Pope Resources. But Rose expressed confidence that the cost would be less than $70 million for all the land and timber — including nearly two miles of undeveloped waterfront on Port Gamble Bay.
Read more: http://www.kitsapsun.com/news/2011/oct/19/north-kitsap-forestland-deal-could-protect-7000/#ixzz1cQN27a7t
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