Lyndhurst Mayor Joseph Cicero says the city needs the property for commercial development to bolster its dwindling revenues. He envisions preserving some green-space. But he wants to use the rest of the 160 acre site at the Richmond and Cedar roads intersection for retail, housing and business development. Cicero says Acacia is the city’s last available undeveloped piece of land. The Virginia-based “Conservation Fund” wants to keep the property undeveloped. The non-profit organization uses private donations to buy and preserve land nationwide. Acacia’s shareholders are scheduled to vote on the organizations’ nearly $15 million offer September sixth. But by law Lyndhurst has 60 days to study the property’s suitability for development, putting the club’s final decision on hold. Acacia officials did not return a call for comment on the city’s bid. In June, the shareholders rejected a retail developer’s $12 million offer. And the club’s board recently threw out a different developers $16.5 bid, and instead sent the Conservation Fund offer to the shareholders. Acacia is for sale because it’s facing the same problems as many other private clubs, rising costs and declining memberships.