Crown land negotiations with Humber Valley Resort Corporation completed  

Environment and Conservation Minister Tom Osborne today announced that Crown land negotiations with Humber Valley Resort Corporation (HVRC) for the resort�s expansion on the province�s west coast have been completed and a lease-purchase agreement has been signed for the land.  

�I am very pleased that we have officially concluded negotiations with HVRC on the lease- purchase agreement for Crown land for the resort�s expansion on Deer Lake �s north shore,� said Minister Osborne.  �We have worked very closely with HVRC, especially over the past few months, and I am delighted that these talks have come to a successful conclusion.  The agreement is indeed good for the people of the province, good for the resort, and the local economy.�  

In keeping with government�s commitment to ensuring the people of the province get the maximum return on its resources, Minister Osborne said the final agreement included the sale of 660 hectares of land at fair market value, as well as a premium to be paid to the province for every lot sold by HVRC.  

�We have sold the land at the fair market value of $6.39 million, combined with a six per cent premium for each lot sold by the resort, which could result in additional revenue of approximately $11 million,� said Minister Osborne.  

The minister added: �Government is committed to prudent and sustainable management of our Crown land.  We will continue to take strategic action that ensures long-term economic benefits to the province �  the land sale to HVRC demonstrates this.  Indeed, the resort is having a positive impact on the west coast and the province as a whole, and I wish HVRC all the best with its expansion plans.�  

Tom Marshall, MHA for the district of Humber East, said:  "I am very pleased that a land sale agreement has been reached between government and HVRC that not only benefits the resort development, but also ensures that this province receives full value for its resources.  I congratulate Humber Valley Resort for establishing a world class facility in such a beautiful area of our province, and indeed welcome the economic benefits that this development will provide for the west coast region.�  

Media contact: Sonia Glover, Communications, (709) 729-2575 , 685-6612  

2005 08 05                                                        11:40 p.m.