Land trusts agree to $23.5 million acquisition of Sierra land

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TRUCKEE, California (AP) - Two land trusts have signed an
agreement to acquire a nearly 15-hundred-acre former cattle ranch
in a scenic Sierra valley for 23-point-five (m) million dollars.
The Trust for Public Land and the Truckee Donner Land Trust must
raise two (m) million dollars by October 31st to complete the
purchase of the Waddle Ranch in Martis Valley near Lake Tahoe's
north shore.
The organizations have been negotiating with the Pritzker
family, owners of the property as well as the Hyatt hotel chain.
Trust officials say the land had been considered for major
development and its protection as open space will help create a
wildlife migration corridor.
Plans call for construction of public trails for hikers and
bikers on the old ranch.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

AP-NY-03-25-07 2048EDT