The West Boundary Community Forest has presented the Village of Midway with a dividend cheque for $500,000, one of the largest in recent memory.
Mayor Martin Fromme says the money has not been earmarked for any specific project, but it will go towards the general development of the village.
“It could be an economic project or something of enduring value for the community,” he says.
Dividends have generally been paid annually, split between Greenwood and Midway, since the community forest was established eight or nine years ago, Fromme said.
“It’s been a huge boost to Midway,” he added.
The community forest primarily sends its logs to the Vaagan mill in Midway, and was established partly to help the mill have a steady fibre supply.
Previous dividends have been used to buy land to support community projects, including the extension of Riverfront Park. The village also purchased a couple of lots next to the community centre to help in its renovation, as well as land along the Canada-US border adjacent to the community forest.
“The general thinking right now is that property will be developed as a recreation area,” Fromme said.