NC State sells Hoffman Forest for $150 million - WNCT

NC State sells Hoffman Forest for $150 million

Posted: Updated:

RALEIGH, N.C. (AP) - Trustees of N.C. State University's Endowment Fund have agreed to sell the 79,000-acre Hofmann Forest near Jacksonville to an Illinois-based agribusiness company for $150 million.

The News & Observer of Raleigh reports (http://bit.ly/1hrpsHf ) the money will be placed in endowment funds, and income from its investment will be used mainly to benefit the College of Natural Resources.

Conservationists, forestry experts and landowners oppose the sale. Those groups filed a lawsuit last month saying the state was required to consider public input and the potential environmental impact of selling the land, among other issues.

A judge denied the groups a temporary restraining order to stop the sale after lawyers from the state Attorney General's Office argued that the sale wasn't imminent.

N.C. State identifies the buyer as a family-owned farming company.

Information from: The News & Observer, http://www.newsobserver.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Local NewsMore>>

  • Tech Beat Tuesday 04/15/14

    Tech Beat Tuesday 04/15/14

    Tuesday, April 15 2014 10:49 PM EDT2014-04-16 02:49:10 GMT
    Tech Beat Tuesday is here again! The latest on Google Glass. Kids not knowing what a "Walkman" is?!? 
    Tech Beat Tuesday is here again! The latest on Google Glass. Kids not knowing what a "Walkman" is?!? 
  • Wayne County teacher wins STEM Teacher of the Month

    Wayne County teacher wins STEM Teacher of the Month

    Tuesday, April 15 2014 10:44 PM EDT2014-04-16 02:44:31 GMT
    Norwayne Middle School Teacher Paul Casey remembers when he used to take shop class, he still has the gun rack and baseball he made. 
    Norwayne Middle School Teacher Paul Casey remembers when he used to take shop class, he still has the gun rack and baseball he made. 
  • 2 Backpacks shutdown block near Boston Marathon finish line

    2 Backpacks shutdown block near Boston Marathon finish line

    Tuesday, April 15 2014 10:11 PM EDT2014-04-16 02:11:41 GMT
    Police destroy two unattended backpacks left near the Boston Marathon finish line one year after the deadly bombings. 
    Police destroy two unattended backpacks left near the Boston Marathon finish line one year after the deadly bombings. 
  • Events Calendar

Powered by WorldNow

3221 South Evans Street
Greenville N.C. 27834

Telephone: 252.355.8500
Fax: 252.355.8568
Email: newsdesk@wnct.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.