AUBURN — The Placer County Board of Supervisors finalized a contribution Tuesday to help purchase Waddle Ranch, a 1,481-acre parcel in the Martis Valley.
Supervisors approved an initial $5.6 million toward the total county contribution of $10 million. The rest of the funding will be distributed as the county receives additional open-space fees from development in the Martis Valley.

The cost of the property is $23.5 million.

The county has been working with the Trust for Public Land and the Truckee Donner Land Trust, which have been the lead agencies in the purchase. The sale is expected to be finalized near the end of October.

“I’m pleased with the purchase of this land. I think everyone won...,” said Supervisor Bruce Kranz, whose district encompasses part of the land.

The funding comes from open space fees and money set aside in the county’s open space fund. Had Waddle Ranch not been preserved as open space, approximately 1,000 dwelling units would be permitted under the general plan. Open space fees to be contributed by development in the Martis Valley have been set at $5,000 per residential unit.

The Truckee Tahoe Airport District will ultimately hold title to the property, with a conservation easement held by Truckee Donner Land Trust. The conservation easement provides public access to the property.