Portfolio

Lyme Pennsylvania Headwaters

In 2017 and 2018, Lyme acquired 67,500 acres of premium timberland in northwest Pennsylvania and southwest New York in two transactions. To finance the transaction, Lyme accessed financing from conservation partners, including the state of Pennsylvania’s clean water revolving loan fund, PENNVEST, and The Conservation Fund. In exchange, Lyme donated a conservation easement on 9,400 acres, agreed to fund $7500,000 of acid mine drainage remediation work, and made 51,000 additional acres available for working forest conservation easement purchases by the Pennsylvania Department of Conservation and Natural Resources over a seven year-period. Over 63,000 acres of the property are being managed for sustainable timber production and as if it were subject to a single, comprehensive conservation easement.

The lands grow some of the finest quality hardwood sawtimber in the world, including black cherry, sugar maple, red maple, ash, and northern red oak. Under the terms of current and contemplated working forest conservation easements, the lands provide hunting, fishing, and other recreational opportunities.

Lyme’s investments in Pennsylvania are creating and supporting dozens of logging, mill, and trucking jobs. In 2018, Lyme made a significant minority investment in the Emporium Hardwoods sawmill in Emporium, Pennsylvania. The sawmill, recently rebuilt with state-of-the-art design and advanced technology, sits in the middle of Lyme’s timberland ownership.

Three Rivers Forest Management, based in Coudersport, Pennsylvania, manages the property. David Andrus serves as the General Manager.

Location
Cameron, Clinton, Elk, Erie, Jefferson, McKean, Potter, Venango, and Warren Counties, Pennsylvania; Cattaraugus and Chautauqua Counties, New York
Acreage
67,488
Lyme Pennsylvania Headwaters