In a meeting Thursday, Vineyard Lands for Our Community president Steve Bernier said the nonprofit is scrambling to raise the closing costs for a massive redevelopement project on the Vineyard Haven waterfront before the August 1 deadline.

Vineyard Lands for Our Community, a fledgling nonprofit, filed plans this week with the Tisbury conservation commission for a sweeping new development, kicking off a lengthy permitting process for the multi-million dollar project.

A prime stretch of Vineyard Haven working waterfront is now on the market as four separate parcels for a total of $7.3 million.

A strategic stretch of the Vineyard Haven working waterfront is for sale and an Island group hopes to form a nonprofit to buy it.