Nature Conservancy
looks to buy
coral atoll
With federal help, Palmyra
By Lori Tighe
may become a national refuge
Star-BulletinThe U.S. government's $8 million appropriation to buy Palmyra Atoll, "a postcard paradise," has pleased its owners, but didn't bring a sale any closer.
The $8 million is the largest allocation for a federal refuge in the western United States, said U.S. Sen. Dan Inouye yesterday.
The asking price is roughly $35 million, but private funds from the Nature Conservancy are intended to help pay for it.
The Nature Conservancy, which is negotiating the deal, made its second offer in December to buy Palmyra Atoll, 1,000 miles south of Hawaii, from the Fullard-Leo family. They have owned Palmyra since the 1920s and bought it for $22,000.
"The appropriation is positive, but there's still no agreement on price," said Peter Savio, agent representing the family, and owner of Palmyra Development and Savio Realty.
Savio said the Nature Conservancy offered a sum considerably below $35 million, which the family is considering.
"We're countering back and forth. It's plodding along," said Savio. "I remain hopeful. It's the perfect use."
Palmyra ranks as the No. 1 priority among 130 potential land buys for the U.S. Fish and Wildlife Service this year because of its unique environmental features.
"We're thrilled about the $8 million," said Barbara Maxfield, Fish and Wildlife spokeswoman. "We're hopeful the Nature Conservancy can work out a deal with the landowners."
If the Nature Conservancy buys Palmyra, the U.S. Fish and Wildlife Service will run it as a national refuge with limited public use.
Palmyra showcases the best coral reef diving in the nation, said Jim Maragos, a reef expert with the East-West Center.
"It's a wilderness reef for fisheries, which you're not going to find anywhere in the world," he said.
Palmyra Atoll, which has 600 land acres and 15,000 acres of coral reefs, remains the world's only undeveloped wet atoll, Maragos said.
