Quantcast

NC State sells Hoffman Forest for $150 million - Greenville, NC | News | Weather | Sports - WNCT.com

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 This material may not be published, broadcast, rewritten or redistributed.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>>

  • 2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    2 charged with first-degree murder in beating death of UNC professor, cancer researcher

    Friday, July 25 2014 9:00 AM EDT2014-07-25 13:00:14 GMT
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
    A UNC research professor was robbed and beaten to death Wednesday afternoon on University Drive in Chapel Hill, police said.
  • UNC inviting ex-athletes back to complete degrees

    UNC inviting ex-athletes back to complete degrees

    Friday, July 25 2014 6:36 AM EDT2014-07-25 10:36:35 GMT
    North Carolina is inviting former athletes who left before completing coursework to return and earn their degrees.
    North Carolina is inviting former athletes who left before completing coursework to return and earn their degrees.
  • Millions in insurance rebates coming to Carolinas

    Millions in insurance rebates coming to Carolinas

    Friday, July 25 2014 6:34 AM EDT2014-07-25 10:34:04 GMT
    Millions of dollars in health insurance rebates will be coming to consumers in South Carolina and North Carolina from companies the government says spent too much of premium dollars on profits and red tape last year.
    Millions of dollars in health insurance rebates will be coming to consumers in South Carolina and North Carolina from companies the government says spent too much of premium dollars on profits and red tape last year.
  • Events Calendar

SHARE YOUR PHOTOS AND VIDEOS
CLICK HERE TO UPLOAD PHOTO/VIDEO TO
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.