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March 31, 2016
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Financing Conservation at Wallowa Lake Lodge
Joseph, Oregon
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Financing Conservation at Wallowa Lake Lodge
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With a Craft3 Conservation Bridge Fund loan, Lake Wallowa Lodge, LLC was able to preserve nine acres at the head of Wallowa Lake including old growth timber, a quarter mile of the Wallowa River and associated wetlands.
Originally opened in 1923 on the shores of Wallowa Lake, historic Wallowa Lake Lodge is a peaceful retreat in Oregon’s spectacular Wallowa Mountains. Adjacent to Wallowa Lake State Park, the lodge offers wilderness hiking, fishing and boating.
After the previous co-owner passed away, the lodge was scheduled to be sold at auction. Concerned for its future, community members wanted to preserve the historic lodge, its current function and the surrounding acreage.
The Nez Percé Tribe also had interest in protecting the fragile landscape surrounding the lodge – the property is part of the tribe’s ancestral homeland and has considerable conservation and cultural value. The Tribe had pursued purchasing a conservation easement, but due to the timing of federal and state funding they needed Craft3 to step in to provide bridge funding to help close the sale to local interests.
With a Craft3 Conservation Bridge Fund loan, Lake Wallowa Lodge, LLC was able to secure the property in advance of auction, preserving nine acres at the head of Wallowa Lake including old growth timber, ¼ mile of the Wallowa River and associated wetlands.
Applying capital to help communities save historic assets and conserve the environment is one way Craft3 supports resilience in the Northwest.
Visit
www.Craft3.org/LandConservation
and
www.LakeWallowaLodge.com
to learn more.
Impacts
5 jobs retained
9 acres conserved
$3.2 million property value preserved
$2 million other funds leveraged
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