Group tries to buy the Wildwood Ecoforestry Centre south of Nanaimo
A last-minute fundraising drive has led to a bid that could change The Land Conservancy’s plan to sell the Wildwood Ecoforestry Centre south of Nanaimo to a private buyer.
The 77-acre property was one of several TLC put up for sale as part of a court-approved plan to emerge from creditor protection.
The land trust fell into financial difficulty three years after it became unable to carry its mounting mortgage debt.
Today in Vancouver court, a judge was set to approve a 725-thousand dollar bid for Wildwood from a private forester who has pledged to carry on running it as Wildwood founder Merv Wilkinson wished.
But a group concerned about seeing the land in private hands says they were able to raise 200-thousand dollars in the last few days, and entered a sealed bid before the judge today.
The judge hearing the case has asked to hear additional arguments, and is expected to take several days before reaching a decision.