Oregon Dept. of Forestry Seeks Operating Loan
State forestry officials are seeking changes to the way the state funds firefighting efforts after the agency had to ask the Oregon State Treasury for a $60 million loan to tide the agency over until it can get more money from the Legislature. After taking the brunt of this year’s $317 million in firefighting costs (almost half will be reimbursed—eventually—from the federal government), the Oregon Dept. of Forestry is broke.
According to ODF officials, the agency has had to ask for loans several times in the past 20 years, most recently in 2021. They add that firefighting costs have increased dramatically the past decade at a rate of more than $10 million annually of rising costs. The agency is working on a report that includes potential new funding models that will be forwarded to the 2025 legislature.
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Biofuels Project Sinks
The Red Rock Biofuels project in southern Oregon appears headed for foreclosure according to notices published in the Lake County Examiner newspaper in late December after the company failed to make principal and interest payments on some $300 million in debt. The notice set a February 4 payment deadline with a property auction scheduled for February 9. Originally scheduled for completion in 2017, the…
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