DES MOINES (AP) -- Living History Farms has sold 40 acres of its land to create an endowment that would help finance the museum's operations.

Polk County Recorder records show the sale was finalized at the end of July to S&S Heritage Park LLC, which paid nearly $7.2 million for the property.

Developer Robin Seiser has said he plans to use the land, which is in Urbandale, to build a retail and commercial development called Heritage Park.

Jennie Deerr, the director of marketing for Living History Farms, has said proceeds from the sale will be used to create a permanent operating endowment for the facility.

The site has not been used by the museum.

"It will go into our operating fund and interest gained on the investment will provide a steady stream of income. We will still need to fundraise, but it will be a good start," Deerr said. "Every year a large percentage of our operation budget comes from corporate sponsorship and donations. This will help ease that burden."

Living History Farms is a nonprofit, historic and educational foundation. It does not receive government funding.

Two years ago, the city council changed the city's comprehensive land-use plan, based on study findings, to allow for more retail in the area. Plans would allow for the construction of hotels, a maximum of two fast-food restaurants, convenience store, big-box retail and other businesses.