ST. PETE BEACH - The city's desire to buy a million-dollar waterfront property south of Egan Park moved a step closer to reality last week.

The Trust for Public Land, a national nonprofit land conservation organization that helps communities buy land for public use, has agreed to negotiate the acquisition of the three-quarter-acre parcel at 9001 Blind Pass Road.

Owning the land, which includes a single-family home built in 1970 and a boat dock, would let the city square off a municipal complex that includes Egan Park and a boat ramp.

St. Pete Beach already owns a similar-sized piece of land fronting on Blind Pass Road and abutting the south side of Egan Park. It's used for parking. The land the city wants to acquire is directly behind that city-owned parcel and also abuts Egan Park, as well as the Intracoastal Waterway.

"The TPL will begin negotiations with the property owner and put together an acquisition package for the city to consider," City Manager Mike Bonfield told commissioners via e-mail.

Once a price is negotiated, commissioners must approve the purchase, which is most likely to occur in late August or early September, Bonfield said.

If approved, the TPL would use its own money to buy and hold the property for the city. The process would give the city time to secure a state or federal grant to reimburse the TPL.

If the city were unsuccessful in obtaining a grant, it still would be required to reimburse the TPL with other funds, according to Bonfield.

The city considered buying the land two years ago but abandoned the idea because it was priced at about $3 million.

With the decline in real estate prices, city commissioners gave Bonfield the go-ahead last month to revisit acquiring the property, which is assessed at $635,077 and generates $11,324 in combined city and county property taxes. The just market value is listed at $973,300 and the comparable sale value at $1.17 million. A city-commissioned appraisal puts the value at about $1 million.