VANCOUVER (NEWS 1130) – Three First Nations have signalled their intentions to buy a portion of land in West Vancouver from the provincial government.

The BC government has accepted a letter of intent from Musqueam, Squamish and Tsleil-Waututh Nations to purchase the provincial portion of the Jericho lands.

The province says any final sales agreement would be based on fair market value for the lands, which would be determined by independent appraisals.

The Jericho lands consists of two parcels, including nearly 39 acres owned by the province and 52 acres that were recently transferred from the federal government to the Musqueam, Squamish and Tsleil-Waututh Nations and the Canada Lands Corporation.