Trust needs $1 million to finish ridge land purchase

The 110-acre Martha Co. property sits along the southern Tiburon Ridge. The San Francisco-based Trust for Public Land needs to raise an additional $1 million in private donations toward its $42.1 million purchase of the property so it can turn around and sell it to Marin County for $26.1 million. (Handout photo)

The nonprofit seeking to buy the 110-acre Martha property on the Tiburon Ridge says it needs to close a $1-million fundraising gap by early May to ensure the property is preserved as open space.

The San Francisco-based Trust for Public Land, aided by local grassroots group Tiburon Open Space, has so far raised about $31.6 million of the $42.1 million required to buy the site from owner the Martha Co., according to a Feb. 12 email to supporters from Tiburon residents Erica Williams, a senior project manager for the trust, and Jerry Riessen, president of the local group.

The trust is working to secure another $9.5 million through its agency partners, leaving the $1 million needed from private donations. It’s hoping to close that gap by May, before its June 14 deadline to show the owners it has the funding.

Once the purchase is complete, the trust plans to then sell the property to Marin County for $26.1 million.

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