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Hollywood sign will be covered at 2 p.m.

February 11, 2010 | 12:11 pm

In a Thursday afternoon ceremony, City Council member Tom LaBonge and officials from the Trust for Public Land will drape the Hollywood sign in a cover with the words “SAVE THE PEAK” emblazoned in red lettering.

The group will leave from Beachwood Market at 2 p.m., leading a caravan up to the sign, officials said. The 250-foot-long white fabric cover is being used to publicize efforts to raise funds to acquire Cahuenga Peak, the 138-acre parcel that sits just to the west of the sign.

“We want to raise the visibility of it, so that people will support our campaign to save the peak, to save the land,” said trust spokesman Tim Ahern.

LaBonge called the trust when reports surfaced that property owners were looking to develop the land for luxury residential housing. The Trust for Public Land has an agreement to purchase the land for $11.7 million, which is about half off the $22-million asking price, Ahern said.

Trust officials say they have raised about half the amount they need, but must have the total amount by April 14.

-- Amina Khan