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Deal Will Preserve Valuable S.F. Bay Area Open Space
The San Jose City Council recently approved a $93-million deal to purchase 937 acres in the Coyote Valley. Silicon Valley companies have tried in the past to expand into the area, what has been described as "the last great open space" in the San Jose region. The plan will ensure that the land will be protected from any future development.
"Under the deal, the city will pay $46 million, and the Peninsula Open Space Trust, a non-profit group based in Palo Alto, will pay $42 million, to complete the purchase from leading Silicon Valley developers Brandenburg Properties and the Sobrato Organization. The Santa Clara Valley Open Space Authority will also contribute $5 million," reports Paul Rogers.
Environmentalists are hailing the decision as a major victory. In addition to the wildlife and biodiversity found in the area, the Coyote Valley includes wetlands that can prevent flooding and it sits on a large underground drinking water aquifer. "After the deal closes, San Jose will retain ownership of 296 acres, and the rest will go eventually to the Santa Clara Valley Open Space Authority, a government agency based in San Jose that operates public open space preserves on both sides of Coyote Valley," says Rogers.