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Conservation group plans to buy land near Hollywood sign

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The AP is reporting that Trust for Public Land, a conservation group, has secured an option to buy a 138-acre parcel of land near the Hollywood sign, a deal that would protect the area from development. A Chicago consortium currently owns the property and at one point had planned several luxury homes for the area. If the deal goes through, Trust for Public Land will purchase the area for $12 million, after which it plans to transfer the land to the city of Los Angeles, so it can be incorporated into Griffith Park.