Frank Riggs: “Mr. Chairman, on September 28th last year representatives of the Federal Government, representatives of the State of…”

“Mr. Chairman, on September 28th last year representatives of the Federal Government, representatives of the State of California government, and the Pacific Lumber Co. headquartered in Humboldt County, California, signed an agreement providing for the Federal acquisition of 75,000 acres of timberland in Humboldt County, in my congressional district. This land includes 3,000 acres known as the Headwaters Forest, which is the largest privately-owned old-growth redwood forest in the world. This is an un-entered tract of redwood timberland that is zoned for timber production. It is the highest and best use of the land. The funds for the Headwaters agreement would come from a combination of State and Federal accounts. The Federal share of the total acquisition cost is $250 million. The budget agreement... anticipates a $700 million increase in the Land and Water Conservation Fund for priority Federal land acquisitions and land exchanges. Of this, I believe it is understood that $250 million would be earmarked for the completion of the Headwaters Forest agreement. However, none of these funds were included in the fiscal year 1998 Interior appropriations bill before us on the floor at this time.”