Even before setting up its by-laws and meeting schedules yesterday, Tennessee’s Heritage Conservation Trust Fund board of directors discussed a plan of action for the sale of Bowater’s Tennessee landholdings.
In September, Governor Phil Bredesen appointed the board to direct the state’s 10-million dollar trust fund dedicated to the preservation of forest land in Tennessee, particularly on the Cumberland Plateau.
Pulp and paper company Bowater announced earlier this month that it would divest over 230-thousand acres of timberland in Tennessee, almost all on the Plateau.
The Heritage Conservation Trust Fund was set up to make the most of these opportunities, avoiding much of the bureaucracy of state government. State agencies like the Department of Environment and Conservation hope that will make protecting priority lands easier.
TDEC Commissioner Jim Fyke is a non-voting member of the board.
“We’re thinking that it has more flexibility than what we call the State Land Acquisition Fund. We didn’t know we were going to need that flexibility quite as quick as we do, but I definitely think it has the ability to talk with private partners quicker than we could within the typical state funding mechanism.”
Initially the board plans to explore partnering with conservation groups and timber investors to make their money go further to preserve large plots. The partnership would mean timber companies could buy the land and allow the state to establish conservation easements.
The trust fund’s board will meet quarterly, but a special meeting will likely be called in the pursuit of Bowater’s land.
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