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Marin supervisors OK $23 mil bond sale to buy Tiburon open space

Marin has officially authorized $23 million in funding to help buy and preserve 110 acres of private property on the southern Tiburon ridge as open space, putting the land trust leading the effort in position to finalize the deal in June.

The county Board of Supervisors, meeting as the Marin Open Space District board of directors on May 7, approved the bond sale in a 3-0 vote. The sale was authorized by Belvedere and southern Tiburon voters as Measure M on the November 2022 ballot, backed by a 30-year, $335-per-parcel tax with an annual 2% escalator.

Southern Marin Supervisor Stephanie Moulton-Peters, whose district includes Tiburon and Belvedere, and colleague Katie Rice were absent.

With the bond sale secured, the nonprofit Trust for Public Land is now waiting on one pending $5.5-million grant to complete its fundraising efforts and allow it to buy the land for $42.1 million from owner the Martha Co. The trust then plans to sell the land to the county for $29.2 million, Marin’s share of the fundraising.

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