Pleasure House Point Acquisition Receives First Major Donation by a Private Source of $500,000 from the Dominion Foundation

VIRGINIA BEACH, Va., Dec. 9, 2011 /PRNewswire-USNewswire/ -- The Trust for Public Land has received a $500,000 gift from the Dominion Foundation, the philanthropic arm of Dominion Virginia Power. The donation is the first substantial gift from the private sector towards the acquisition of Pleasure House Point.

A partnership is underway to acquire and protect the 122-acre property along the Lynnhaven River under terms of an agreement between Wells Fargo bank and The Trust for Public Land (TPL), a national environmental group. The property has been a top open-space priority for Virginia Beach for a decade. The Chesapeake Bay Foundation and TPL have partnered with the City of Virginia Beach to raise funds to meet the $13 million purchase price. Dominion's donation brings the fundraising total so far to $7 million.

"Dominion Virginia Power has joined us in recognizing that conserving Pleasure House Point is a community priority, in addition to an ecological priority, and we are grateful," said Lynda Frost, TPL senior project manager. "A dedicated group of community leaders have been working hard to raise private funds and the large amount of Dominion's gift is a tremendous vote of confidence in their efforts as well as the value and benefits of the project. Dominion is leading by example to encourage other corporate donors to step forward."

Pleasure House Point, located just west of the Lesner Bridge and south of the Chesapeake Bay, is at the merging of Pleasure House Creek and Crab Creek, overlooking the Lynnhaven Bay.

"We are pleased to help preserve the largest undeveloped parcel of land on the Lynnhaven River for generations to come," said Virginia M. Board, president of The Dominion Foundation and managing director of community affairs for Dominion Virginia Power. "Pleasure House Point provides valuable public green space and the opportunity to experience shoreline habitat, wetlands and maritime forest, and it protects the natural habitat of birds and marine life."

Before Wells Fargo took over ownership of the property last year, developers had planned to build a large waterfront development known as Indigo Dunes. TPL intends to buy the property from Wells Fargo and sell most of the land to the Virginia Beach Parks and Recreation Department for open space preservation and public access to the Lynnhaven River.

"It's gratifying to see the progress we've made toward preserving this unique property," said Virginia Beach Mayor William D. Sessoms, Jr. "I thank Dominion Virginia Power and the Dominion Foundation for their generosity, and for joining this partnership to save the largest piece of undeveloped waterfront property on the Lynnhaven."

Another portion of the site would be sold to the Chesapeake Bay Foundation for use as an environmental-education center, and outdoor learning experience for kids and adults.

To make a contribution towards the purchase of Pleasure House Point, contact the Virginia Beach Parks and Recreation Foundation at www.savepleasurehousepoint.org or contact Pete Hangen at 757-385-4209.The Trust for Public Land is a national nonprofit land conservation organization that conserves land for people to enjoy as parks, gardens, and natural areas, ensuring livable communities for generations to come. Established in 1972, TPL has helped protect more than 3 million acres across the nation. The Trust for Public Land depends on the support and generosity of individuals, foundations, and businesses to achieve its land for people mission. Learn more at www.tpl.org/virginia.

The Dominion Foundation is dedicated to improving the physical, social and economic well being of the communities served by Dominion companies, including Dominion Virginia Power and Dominion North Carolina Power. For more information about Dominion, visit the company's website at www.dom.com.

Follow Dominion on Twitter at: http://www.twitter.com/DomVAPower. 'Like' us on Facebook by searching keyword: Dominion Virginia Power.

SOURCE The Trust for Public Land



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