Ecotrust in the News
Eureka Times-Standard
April 15, 2009
By John Driscolli
Yuroks seek $20 million state loan for land
Eureka, CA — The Yurok Tribe has applied for a $20 million no-interest loan from the state that could secure the first part of a two-stage land deal to significantly broaden its current holdings.
The tribe last fall entered into an agreement with Green Diamond Resource Co. that gave it an option to purchase up to 47,000 acres in two phases. In its application to the State Water Resources Control Board, the Yurok Tribe offers to contribute $5 million from tax credits made available to it through an organization that helps acquire forest land in rural Northern California.
The State Revolving Fund loan would help pay for the first part of the anticipated deal, including land in the Cappell and Pecwan watersheds, totaling 22,500 acres. The land would be maintained for sustainable forestry operations, according to the tribe's application.
”We're hoping we can get the green light and move forward with this project,” said Yurok Tribe policy analyst Troy Fletcher. “We've set a working timeline of June 30.”
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