In November 1998, Afognak Joint Venture (AJV) transferred to the state and federal governments surface title to approximately 41,376 acres of land on northern Afognak Island and easements on an additional 400 acres. Surface title was acquired in parcels adjacent to Shuyak Strait, the Kodiak National Wildlife Refuge, east of Paul's and Laura Lakes, Tonki Bay, and several islands in Perenosa Bay and Blue Fox Bay. AJV retained timber rights for 15 years on approximately 2,213 acres acquired to the east of Paul's and Laura Lakes. The acquisition included a conservation easement preserving a 200-foot buffer along the western shores of Paul's and Laura Lakes and easements for the operation of weir sites on the eastern shore of Waterfall Creek and at the mouth of Paul's Creek. The total purchase price was $73.2 million. The Council also purchased the subsurface estate from Koniag in a separate transaction for $750,000.
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