The 330-acre Gallagher Ranch in Point Reyes Station, complete with redwood trees, salmon habitat and an old rail line that could become a key trail link, will remain in the family largely as open space under a $1.5 million conservation deal approved by Marin County officials.

The Board of Supervisors allocated $742,500 to the Marin Agricultural Land Trust for the project, completing funding needed to ensure the former dairy ranch that now provides grazing pasture remains as an agricultural enterprise rather than become a target for estate subdivision.

The money will be matched by MALT using $490,000 in Coastal Conservancy funds and $252,450 from a new state sustainable agricultural lands program.

The county funding came from park sales tax Measure A, a quarter-cent sales tax approved by voters who agreed that 20 percent of the money raised, or more than $2 million a year, would support farmland preservation.

“This is an exceptional example of the value and purpose of including agricultural preservation in our open space tax measure, because we’re saving a family farm, keeping it in productive use, and holding open the possibility that a regional trail may someday follow the historic railroad route to Point Reyes,” Supervisor Steve Kinsey said.

An old railroad line snakes along the south side of Lagunitas Creek through the ranch and could link with the Cross Marin Trail. The rail trail could “directly connect with eight miles of the existing Cross Marin Trail that runs through Samuel P. Taylor State Park, thus extending the trail network to 13 miles,” according to the Marin County Bicycle Coalition website. “This would provide a safe cycling alternative to Sir Francis Drake Boulevard and Point Reyes Petaluma Road, which are both narrow, winding roadways.”

The easement deal allows the Gallagher family to work with the county and MALT on providing trail access, but does not compel them to do so, according to Jamison Watts, MALT’s chief executive officer.

“The true power of Marin’s Measure A dollars is their ability to attract other funders,” Kinsey noted.

The type of collaboration shown by Gallagher Ranch, the Coastal Conservancy and MALT is “essential” in order to continue to preserve agricultural land “before the value of the land becomes unreachable,” Kinsey said.

“Based on the controversies involving agriculture in the national seashore, I’m especially grateful that this MALT easement will keep the land under family farm management,” he said.

The ranch at 14500 Point Reyes-Petaluma Road was acquired by the Gallagher family in 1909 and put up for sale in 2012 for $5.5 million when family members sought to cash out.

The money generated by the easement will enable Kevin and Paul Gallagher to buy out their cousins’ interest in the land and continue agricultural use of the property, half of which is now leased for grazing pasture and hay production.

In addition to hardwood and riparian forest, “the ranch also contains nearly two miles of the north bend of Lagunitas Creek … critical spawning and rearing habitat for coho salmon,” assistant parks chief Ron Miska reported.

The ranch includes three houses, a barn, kennel and other outbuildings.