CHERRY HILL, N.J. (CBS) — Cherry Hill officials have reached a legal settlement to preserve the Woodcrest Country Club.

Cherry Hill Mayor Chuck Cahn says with the blessing of council, he approached Cherry Hill Land Associates to try to bring a more than year-long legal battle over the golf course to a conclusion.

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“I think what we have struck is a real balance that works for all of us and that preserves the golf course that we can now say that our 165 acres will be preserved forever,” Cahn says.

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Cahn says while the settlement still must be approved in court, the township will pay an amount not to exceed nearly $4 million for the development rights.

He says Cherry Hill Land Associates will continue to run the golf course. But, should it decide to give it up, the township would have a say on the future of the site.

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Cahn says the settlement could set precedent for future protection of open spaces in New Jersey.