Forest fund recovers slightly

  • Jul. 29, 2009 9:00 a.m.

The Gwaii Forest Society closed down in April, but directors got together Saturday in Skidegate for a brief annual general meeting. The Gwaii Forest Society started operations just two years ago, and managed to fund just under $500,000 worth of projects before it was crippled by market declines and a global recession. “As everyone knows, our office has closed,” chair Irene Mills said. “The communities all decided we would shut our office down, but would keep our society in good standing. So we will continue every year to hold an annual general meeting and appoint directors.” Islanders had envisioned the $24-million Gwaii Forest Fund operating as a mini Gwaii Trust, using a portion of the interest generated by the fund to pay for forest-related research and education. But it never worked out that way. By last fall, the fund had dipped to $22-million, below its original value, and the islanders who control it decided to close down the Gwaii Forest Society until the fund recovers. Barry Pages, the director for North Graham Island, said the island communities need regular updates on how the fund is doing. Ms Mills told directors that her latest information is that the fund now sits at $24.5-million, and is well on the way to recovery. While the original projection was that it would take until 2014 for the fund to recover, it now looks like it might not take that long, she said. Directors adopted the society’s financial statements and appointed Vohora and Company as auditors for another year.

Just Posted

Appeals court upholds existing two-stage plan for Haida title case

Judges dismiss a Haida Nation appeal to keep phase one focused on a broad declaration of rights

Coastal GasLink gets interim injunction against Unist’ot’en

The LNG pipeline company can start work Monday with enforcement approved by court.

Haida Gwaii gets set for major storm on Saturday

Environment Canada warns Saturday southeaster may bring winds of 90 to 120 km/h

In Pictures: Māori girls net a big win on Haida Gwaii

Haida Gwaii and New Zealand are just a few b-ball games away.… Continue reading

Oil tanker ban to be reviewed by committee

Indigenous groups for and against Bill C-48 travel to Ottawa to influence the Senate’s decision

VIDEO: Royals reveal the images on their Christmas cards

Prince William and his wife Kate are shown outside in casual clothes, their three young children in tow

ICBC to apply for 6.3% hike to basic insurance rates

Crown Corporation said it will be submitting its next basic rate application to the British Columbia Utilities Commission Friday

Media, robotics, Indigenous studies coming to B.C. Grade 12 classrooms in 2019-20

Provincial tests are also being changed for students in Grade 10 to 12, the Education Ministry said

Canfor Corp. extending temporary curtailment of sawmills in B.C.; cutting hours

Vancouver-based company says the decision is due to declining lumber prices, high log costs and log supply constraints

Canada’s prospective world junior team members await final roster decisions

Thirty-four players were invited to the national junior selection camp

Family searching for B.C. professor last seen at Colombian salsa club

Ramazan Gencay, a professor in economics at Simon Fraser University, was last seen in Medellin

Rash of bomb threats a learning opportunity for response capacity, Goodale

Thursday’s wave of bomb threats swept across communities on both sides of the Canada-U.S. border

Mike Duffy can’t sue Senate over suspension without pay, judge rules

Duffy’s lawsuit sought more than $7.8 million from the upper chamber

Language on Sikh extremism in report will be reviewed, Goodale says

A public-safety ministry document indicats terrorist threats to Canada included a section on Sikh extremism for the first time

Most Read