FAIRBANKS, Alaska (AP) – A coal mining company is planning to sell land to residents who have subleased lots in a neighborhood southwest of Fairbanks.

The Fairbanks Daily News-Miner reports Usibelli Coal Mine announced Friday that it had purchased the 464-acre Tri-Valley subdivision in Healy and plans to begin offering residents the option to buy the land.

Usibelli purchased the property from the Alaska Railroad Corp. in a deal authorized by the state Legislature earlier this year.

The 75-year-old company had leased the land and subleased individual parcels to provide employee housing.

Usibelli spokeswoman Lorali Simon says the company will need to recoup some costs with the lot sales, but its “primary focus isn’t pricing it to make money.”

People who don’t want to buy the land can continue subleasing through Usibelli.

Information from: Fairbanks (Alaska) Daily News-Miner, http://www.newsminer.com