In three separate resolutions in 1996 and 1997, the Council authorized $24,550,000 (plus an additional sum in lieu of interest between the initial date of closing and October 1, 1998) authorizing the purchase of approximately 67,000 acres from Tatitlek Corporation. An additional $10 million came from the federal restitution fund, for a total of $34,719,461. The final acquisition package includes the acquisition of surface title to 33,981.3 acres of land and conservation easements on 38,148 acres. Two of the parcels, Bligh Island and Two Moon Bay, were respectively the third and fourth highest ranked parcels in Prince William Sound. The package includes timber-only conservation easements on 16,381.2 acres on the north shore of Port Fidalgo and Sunny Bay. The first closing occurred in June 1998 and resulted in the purchase of rights on 57,436 acres for $24,150,000. Subsequent closings in 1998 and 2000 completed the acquisition ultimately totaling 72,130 acres.
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