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Thursday, December 3, 2009

Large Grant Almost Meets Purchase Price for Saugatuck Dunes

Denison Dunes
Denison Dunes(Photo by kmh1967. The author or licensor of this image does not endorse me or my work and their image is protected under an attribution license)
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based on a news article from the Allegan County News

Although still $2 million dollars short, with the awarding of $10.5 million over the next three years from the DNR Natural Resources Trust Fund, the long disputed Saugatuck dune property is closer to becoming part of Oval Park. The area in question is a 171-acre parcel, formerly known as the Dennison property. Acquired by billionaire Aubrey McClendon, he agreed in July 2008 to sell the southern portion of the parcel to the city. The purchase price was set at 25 million dollars.

One of the biggest single awards in the history of the Natural Resources Trust Fund, the $10.5 million isn't quite enough. The Land Conservancy of West Michigan (LCWM) executive director Peter Homeyer commented, "Due to the terms of the purchase agreement, we have some work to do and have to consider our options. However, this is a major commitment from the state that demonstrates their support of this project."

LCWM signed a purchase agreement in October, but the agreement was contingent on the Trust Fund grant providing a $12.6 million award. It is not certain where the additional money will come from, or if McClendon will agree to extend the offer,

See Saugatuck May Purchase South Dennison Dunes
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2 comments:

Loreen Niewenhuis said...

I hope this deal comes together. It would be a shame to miss this opportunity to preserve this chunk of land.

-Loreen Niewenhuis
http://laketrek.blogspot.com

Sharkbytes said...

Loreen- How great to hear from you. I sure hope we get to meet some day! Yes, I've been following this one. They are getting so close. I hope that McClendon will agree to wait a little longer. He'll have so much bad PR if he withdraws his offer, I hope he figures that he really has to sell it for the park.

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