A payment deadline in the Cottonwood Lake Preservation Society’s attempt to buy 49 hectares of forest land to prevent it from being logged has been moved to Aug. 31.
The landowner, Nelson Land Corporation, agreed to halt logging while the society fundraises, but the agreement contains a number of milestones — deadlines by which a certain amount must be raised if the company is to continue waiting.
By Aug. 31 the Cottonwood Lake Preservation Society must raise $180,000, of which it has so far collected $80,000. The original deadline was April 30 but was extended by agreement because of the pandemic.
The total cost is $750,000. This will not just purchase the land but will also cover fundraising costs and a conservancy endowment to the Nature Conservancy of Canada, which will become the property owner if the deal goes through.
A conservancy endowment is intended to cover future costs of the Nature Conservancy’s management of the property.
“For now, all of our attention is focused on Aug. 31,” a news release from the society states. “If we don’t raise the money, the campaign to save Cottonwood Lake’s stunning forest ecosystem will end and the landowner will move forward on logging, putting the integrity and beauty of the lake’s critical ecosystem at risk.”