THE LAND CONSERVANCY OF BC TRANSFERS 29% OWNERSHIP OF MALTBY LAKE
FOR IMMEDIATE RELEASE: May 5, 2015
Victoria, BC – The Land Conservancy of BC has sold a portion of its undivided interest in Maltby Lake in Saanich. The transfer was completed on May 1, 2015.
The sale was approved by the Supreme Court of British Columbia on April 2, 2015, when TLC presented its creditor approved Plan of Arrangement to the Court for sanctioning. The Plan recognizes TLC’s commitment to pay the creditors and to ensure that the properties remain protected to the greatest extent possible.
TLC received its 35% undivided interest in Maltby Lake as part of the estate of Catherine Holmes in 2009.
The Offer to Purchase 29% of TLC’s 35% undivided interest was accepted from one of Catherine Holmes’ family members, Woody and Carmel Thomson. The Thomson’s Offer of $750,000 includes a protected area designation upon partition or subdivision of the property.
“The sale is a huge victory for the natural environment and for our extended family and friends who want to see Maltby Lake and its expansive watershed protected,” said Carmel Thompson. “It allows us, and our family, to carry forward the intent of our Aunt Catherine Holmes’ bequest to establish a park in Saanich honoring her husband / our Uncle Pip Holmes while continuing to protect Maltby Lake.”
The transfers will see the original donor’s intentions upheld and the site protected.
The Friends of Maltby Lake Watershed Society, a local conservation group supported by the community and various levels of government, have expressed interest in providing TLC with a contribution for the remaining 6% interest.
The purpose of The Friends of Maltby Lake Watershed Society is to conserve the watershed ecosystems draining into and from Maltby Lake. The Society educates and connects the public and relevant stakeholders to the importance of this delicate ecological and cultural landscape, and represents a larger community of people who have a vested interest in preserving the sensitivity and cultural heritage of the watershed.
“The Thomson’s generosity to purchase the Maltby lands and commit to protect it with community support was a key factor in kick-starting the Plan,” said Briony Penn, Chair of TLC’s Board.
“The Board of Directors and I will continue to do everything in our power to see TLC’s creditors paid to the fullest extent possible while protecting our properties,” said John Shields, Director of Operations for TLC.
About The Land Conservancy of BC:
The Land Conservancy of BC (TLC) is a non-profit, charitable Land Trust working throughout British Columbia. TLC’s primary mandate is to benefit the community by protecting habitat for natural communities of plants and animals. Founded in 1997, TLC is membership-based and governed by an elected, volunteer Board of Directors. TLC relies on a strong membership and volunteer base to help maintain its operations.
– 30 –
John Shields, TLC Director of Operations (250) 479-8053