COF LAND TRUST RENAMED!
PRESS RELEASE
OCTOBER 2, 2007
FOR IMMEDIATE RELEASE
The Central Okanagan Parks and Wildlife Trust has updated its name to the Central Okanagan Land Trust. The aim of the land trust remains the same, explained board chairman Hugh Westheuser: to preserve natural areas in the region.
“There are many ways we achieve that,” he said. For example, landowners can donate land to the trust, or if they prefer to retain ownership, they can register a covenant to protect its natural values; a living legacy. The trust then undertakes to conduct annual inspections to ensure the property is being protected. The donor receives a charitable receipt that can be used to reduce taxes on income, potentially by about 40 per cent of the value of the gift, depending on the circumstances.
Those who wish to convey property for the good of the community after death, can do so through the trust, which will ensure it remains in its natural state, as specified by the donor.
Commemorative gifts and endowments can be made to the trust through the Central Okanagan Foundation, through which the trust was established in 1991.
The trust is also a member of the Land Trust Alliance of B.C. People can also support particular preservation projects through the trust by donating a cash gift or by donating securities or life insurance, works of art or other items of value. COLT currently owns about 99 hectares in the Central Okanagan and is responsible for administering a number of covenants registered in its name.
Some familiar ones include the Benvoulin Woods, along the Mission Creek Greenway beside Mission Creek; Thomson Wetland adjacent to the Capital News Centre on Gordon Drive; Robert Lake Bird Sanctuary; and Cedar Mountain Regional Park. The trust was also involved in the purchase: of Rose Valley Pond, which was the basis for the larger Rose Valley Regional Park; additions to Okanagan Mountain Provincial Park; the Gellatly Nut Farm; and access to Coyote Ridge Regional Park; as well as restoration of the Brandt Creek marshes as part of that inner city park on the Okanagan Lake shoreline. The community-based trust currently manages assets valued at more than three million dollars.
“We invite everyone to consider helping out in the long-term preservation of the natural features of the Central Okanagan,” commented Westheuser.