The trust has raised at least $825,000 so far, comprising $400,000 from the Queenstown Lakes District Council and $425,000 from Central Lakes Trust.
Funding applications were also before the New Zealand Lotteries Grants Board, several national trusts and another local funding source, trust chairman Peter Soundy, of Arrowtown, said.
Mr Soundy agreed fundraising was competitive in the tight economic climate.
"We've made good progress and got about 50% to 60% towards raising our target ... We are very hopeful we will achieve all our funding before September." The trust will hold a private fundraising event at the start of the ski season once the lotteries board decision is known.
The future owner of the Snow Farm land is likely to be the council, which will hold 310ha, including the cross-country ski area, as a public reserve. The trust will be the leaseholder and manage the ski facility and public access.
Snow Farm owners John and Mary Lee would run the Snow Farm this winter as usual, Mr Soundy said.
