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November 18, 2004Crystal River deal on tableConservancy must borrow to cement dealByRecord-Eagle staff writer GLEN ARBOR - More than 100 acres along the Crystal River could become part of the Sleeping Bear Dunes National Lakeshore under terms of an $8.5 million deal. The agreement by the Homestead Resort to sell the land to the National Park Service and Leelanau Conservancy ends a dispute that started 18 years ago when the resort announced it planned to build a golf course there. The purchase includes 6,300 feet of river frontage and the environmentally sensitive parts of the original golf course proposal. It is not without risk. While $1.65 million in federal money already has been pledged and a bill allocating $2 million more is expected to become law this week, the Leelanau Conservancy plans to borrow $4.85 million to seal the deal. Brian Price, executive director of the conservancy, said the deal breaks down like this: - The park service will purchase 22 acres immediately with federal money allocated last year. It includes a scenic stretch along County Road 675. - The Homestead will hold an additional 23 acres for sale to the park service, using the $2 million expected to be appropriated this week. - Fifty-nine acres, including prime frontage on the Crystal River, will be purchased temporarily by the conservancy with the $4.85 million loan. It will be sold to the park service as federal money becomes available. Price said the conservancy was able to raise money to cover interest on the loan for several years. The conservancy expects federal lawmakers who pushed for the current money - Rep. Dave Camp, Sen. Carl Levin, Rep. Bart Stupak and Sen. Debbie Stabenow - to secure more funding over several years. Price said none of the conservancy's existing nature preserves have been used as security for the loan. If Congress fails to allocate the money, the conservancy would resort to private fund raising. Otherwise, portions of the 59 acres not located on the river and that do not contain wetlands could be sold, Price said. Taking the risk over the loan was necessary because the Homestead demanded to sell all of the property at once, Price said. "They weren't going to be halfway in or halfway out," Price said. "They're business people; they have held on to this thing for a very long time. We're pleased the Homestead was willing to wait and work with us." The land has been a hotbed of controversy since 1986, when Homestead developer Robert Kuras announced plans to build a golf course along the river - a move that launched a court battle with the Friends of the Crystal River. The closing should take place within a week, said a statement issued by the resort, the conservancy and the National Park Service. "We've always felt that the best alternative to our initial plan for the use of the property was preservation," Kuras said in the statement. No matter what happens to the 59 acres to be purchased with the loan, Price said the 22-acre parcel up for immediate purchase is important. "The most sensitive and scenic piece of property transfers to the park service straight out of the gate," Price said. "The good news is that we're well on our way."
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