The U.S. Forest Service is giving loggers more time to recover from a downturn in the housing market that is impacting their business. Rep. Jim Oberstar’s office announced Tuesday that the Forest Service will be adding an additional year to the time loggers have to pay off contracts to harvest timber on public lands.

“Many of these contracts were drawn up when the housing market was booming and demand was high,” said Oberstar. “Since the housing market has slowed down, many of these trees have gone uncut. This extension will keep many loggers from suffering big losses or even facing bankruptcy.”

Since September 2004, the softwood lumber market has dropped 36.4 percent.  The Forest Service can alter the terms of logging contracts if it serves the public interest to make the change. “It doesn’t serve anyone to see loggers go out of business. This really demonstrates the need to make the contract system more flexible, so it can adapt to the changing market place,” said Oberstar.

Forest Service officials advise loggers to get in touch with their contracting officer to see if they are eligible for the extension.