PORTLAND — A coalition of neighbors, conservation groups and the city is closing in on its goal of raising $400,000 to preserve an urban woodland along Canco Road, but more funds are needed.

The coalition must still come up with $35,000 to meet the fundraising goal, Danielle Vayenas, of the neighborhood group Friends of Canco Woods, said.

In order to acquire the site, the coalition must raise $350,000 for the property and another $50,000 to establish a stewardship fund and handle other costs. The Trust for Public Land must exercise an option to purchase the lot by Nov. 30 and close on the property no later than Dec. 14.

Two weeks ago, the City Council voted to chip in $75,000 to the effort, with an allocation from the city’s Land Bank account. That brings the total funds raised to $365,000.