State and federal officials joined philanthropic groups in pledging $100 million Wednesday to buy 16,500 acres of salt ponds ringing San Francisco Bay, launching the largest wetlands restoration project on the West Coast.

After negotiations led by Sen. Dianne Feinstein, D-Calif., Cargill Salt agreed to sell the land at 40 percent of its appraised value. The Minneapolis-based agribusiness giant also is responsible for cleanup of the land, which includes 1,400 acres along the Napa River.

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