Powell River Community Forest has year of windfall profits

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May 6, 2019
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After a record-setting year in which more than $2.5 million was raised from forestry activities, nearly $1.8 million from the Powell River Community Forest reserve fund was approved by City of Powell River Council for 14 community projects. In announcing the 2019 spring grants at the council meeting on Thursday, May 2, Powell River Community Forest president Greg Hemphill said the independent corporation was depositing its dividend of $2,518,576, which goes to the community forest fund and gets invested back into the community in grants. Of that amount, the community forest had recommended the expenditure of $1,793,969 for the 2019 spring grants. “This is a record profit in 2018 and record-sized dividend,” said Hemphill. A very strong market and some sound strategic decisions had a lot to do with the magnitude of the proceeds from the 2018 harvest. The $2.5 million dividend brings the total amount of deposits to the fund over the years to more than $13 million.

By Paul Galinski

Powell River Peak

May 3, 2019