N.S. acquires land in exchange for debts owed
April 20, 2016 - The Nova Scotia government is adding more than 3,000 hectares of forestry land after a unique arrangement with a local lumber company, according to a recent article in The Chronicle Herald.
The acquisition is part of an agreement that sees the province accept productive forest lands in exchange for debts owed by Harry Freeman and Son Ltd., a family-owned sawmill in Greenfield, N.S. Comprised of 19 different parcels totalling 3,242 hectares, and valued at $3.6 million, the land is scattered across the province, and supports outdoor recreation activities such as hunting and fishing in addition to its potential for forestry.
The deal represents an important strategic effort from government to acquire more Crown lands. Of the 5.3 million hectares of land in Nova Scotia, about one-third is owned by the province. In other provinces across Canada, the Crown owns anywhere from 50 to 90 per cent of the overall land.
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April 20, 2016 By Taylor Fredericks
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