I spoke this morning with Mike Carr, head of the Adirondack Nature Conservancy. We spoke about the New York Post’s article, in which sources allege that the state overpaid for the massive Domtar land deal.<\/p>\n
In 2008, that $9.8 million transaction added 20,000 acres to the Adirondack forest preserve. The Nature Conservancy paid only around $6.2 million for the parcel.<\/p>\n
NCPR: HOW DO YOU EXPLAIN THE DISCREPANCY BETWEEN THE NATURE CONSERVANCY’S PURCHASE PRICE AND THE AMOUNT PAID BY THE STATE OF NEW YORK?<\/p>\n
CARR: We go out and seek these big landscape sale transactions. This one was 104,000 acres, which means wet got discount at sale. The state only wanted 20,000 acres. Smaller retail blocks don’t get the same discount. Two appraisals were done independently for the state and reviewed internally by the DEC. The timber market was jumping in 2007 and 2008. Markets were very good, it appraised well. One of those two appraisals came back at 11 million dollars. They [the state] could have paid us 11 million dollars for this land.<\/p>\n
NCPR: IN THE POST ARTICLE, APPRAISERS IN THE NORTH COUNTRY ARE QUOTED SAYING THAT THE PRICE PAID BY THE STATE WAS INFLATED AND OUT OF SYNC WITH MARKET RATES IN THE REGION.<\/p>\n
CARR: They have no business commenting on commercial timberlands. They comment on housing markets. In this case, the experts [on timber land transactions] looked at comparable sales in Northeastern forests, actual trades.<\/p>\n
NCPR: THE ARTICLE SUGGESTS THAT THIS WAS A SWEETHEART DEAL AND THE NATURE CONSERANCY PROFITED BY MILLIONS OF DOLLARS. IS THAT TRUE?<\/p>\n
CARR: No. You have all of these costs, survey costs, subdivision blocks, property taxes paid by the Nature Conservancy. In this case, our costs exceeded $3.4 million. We just about broke even [after the sale]. It was very close.<\/p>\n
NCPR: ATTORNEY GENERAL ANDREW CUOMO AND COMPTROLLER TOM DINAPOLI SAY THEY PLAN TO REVIEW THIS DEAL. WHAT DO YOU THINK ABOUT THEIR PROBE?<\/p>\n
CARR: We?re delighted. We fully support the idea. These transactions get reviewed by the Comptroller?s office regularly.<\/p>\n
NCPR: DO YOU THINK THE QUESTIONS RAISED ABOUT THE 2008 DOMTAR DEAL WILL AFFECT CURRENT NEGOTIATIONS OVER THE STATE’S PURCHASE OF THE FINCH, PRUYN AND FOLLENSBY LANDS IN THE ADIRONDACKS?<\/p>\n
CARR: I don?t think so. This [Domtar deal] was done by the numbers. When you get facts in front of professionals, it will be abundantly clear that this was the right way forward.<\/p>\n","protected":false},"excerpt":{"rendered":"
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