- Associated Press - Wednesday, September 10, 2014

RALEIGH, N.C. (AP) - North Carolina State University plans to sell most of the Hoffman Forest to a company that specializes in sustainable timber management.

Multiple media outlets reported that Resource Management Service of Alabama will buy about 56,000 acres near Jacksonville.

The original buyer, Hofmann Forest LLC, plans to buy the remaining 23,000 acres.

North Carolina State also agreed to cut the original price of $150 million by $19 million.

The forest was bought in the 1930s for research and to provide income for the school’s forestry program.

The school has said it wanted to sell the land because it was not generating enough revenue and was not being used very much anymore for research.

Opponents say the school has downplayed the land’s research value, as well as its environmental role.

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