Washington Forestry-Olympic Range Tree Farm

NMTCs financing was necessary for a group of investors wanting to purchase 80,000 acres of forest land in the Olympic Peninsula to restore areas that had been over-harvested, and reverse environmental damage that had previously been done.

Investment

  • NMTC Amount: $8,370,000
  • Total Project Cost: $27,500,000

IMPACT

  • 63 FTE jobs
  • 2,000 Mill Jobs Retained

Investor

Project Description

NMTCs financing was necessary for a group of investors wanting to purchase 80,000 acres of forest land in the Olympic Peninsula to restore areas that had been over-harvested and reverse environmental damage that had previously been done. The land is a source of long-term log and fiber supplies for 11 local mills that employed 2,000 people, and the project would create 50-75 additional full-time positions. The NMTC benefit also allowed for the sale of over 4,000 acres to the Makah Tribe at a significant discount so that the land could be permanently used as a bridge between tribal homelands. 3,200 acres were purchased for the permanent conservation of a pristine habitat.

MAP

Address: 17203 Highway 112, Clallam Bay, WA 98326

Census Tract: 53009000200

Other Washington Projects

NMTC financing brings supportive housing and job training to homeless individuals in Everett
The preservation and substantial renovation of Firehouse 23, a two-story, 11,000 sq. ft. former fire station in the Central District neighborhood of Seattle, WA.
Financing for Heritage University’s campus expansion in Toppenish, Washington.
Financing for the New Boys and Girls Club facility, the Rainier Vista Boys and Girls Club.