The nonprofit organization was supposed to hand landowner R.D. Merrill Co. $17 million for the property sometime today, but has raised only $13 million. Under the extension, the Trust for Public Land has until Dec. 21 to raise the remaining $4 million.
R.D. Merrill Co., which at one time had planned a major destination resort on the site but canceled it after legal battles with environmentalists, has other potential buyers who have expressed interest in purchasing the site. The company decided to grant the extension to the Trust for Public Land because it is so close to reaching its goal.
Of the money it does have, $8 million has come from buyers, grants and donations, and $5 million has come in the form of "bridge loans" from institutions and individuals. The Trust hopes that the U.S. Forest Service will buy 400 acres of the site for around $5 million. It also has asked the Bonneville Power Administration for $5 million to protect the land, which includes the Methow River – a prime habitat for fish species listed under the federal Endangered Species Act.
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