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March 31, 2009

Nature Conservancy Sells Adirondack Woodland

The Nature Conservancy has sold 92,000 acres of Adirondack forest to a Danish pension fund as part of a long-term program to protect the land from development, The New York Times reports.

The fund, ATP, paid $32.8-million for the land, part of 161,000 acres that the nonprofit environmental group bought in 2007 from a paper company to prevent it from being developed for homes and resorts.

Conservancy officials said the deal strikes a balance between preservation and regional economic interests. The pension fund will get tax credits from a planned conservation easement that prohibits development but allows recreational uses and limited logging.

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