May 15, 2007 was a special day for the Foundation as it received a significant land and cash donation as a result of an arrangement between the Township of Langley, the Martini Family, Pacific Parklands Foundation and Metro Vancouver Regional Parks.
The donation included a 23-acre parcel of land in Langley and a cash donation - gifted unconditionally to the Foundation. The land was appraised in 2007 at a value of $691,500. This was an exemplary transaction with many parties - local and regional government, private citizens and a private foundation - all working together for the long term benefit of the community.
The land is located on the southwest edge of Derby Reach Regional Park and is part of an extremely valuable wetland complex. The donation to the Foundation meant that the wildlife inhabiting this environmentally important area would be preserved, and that one day visitors would be able to experience this unique place.
The Pacific Parklands Foundation has entered into a long term lease agreement with Metro Vancouver which allows for the 23-acre parcel of land to form part of the Derby Reach Regional Park. A win win for all!
Some of the cash gift will be used to help support a variety of much needed regional park projects in the Township of Langley and surrounding areas.
The balance of funds will support a much needed endowment that will help leverage additional funds for future regional park projects.