SHANNON URTNOWSKI
Assistant A&E Editor
After months of waiting in anticipation, the Chili Cook-Off site dealings have come to an end.
The 20-acre property, which runs from Cross Creek Road to Webb Way along Pacific Coast Highway, had been in escrow since December, but the deal was closed March 29, said Malibu Mayor Andy Stern.
The lease was finalized, and the city purchased the property for $25 million.
In the vacant land, the city plans to build a park and a waste and storm water facility called Legacy Park.
The Legacy park will serve to control water run-off and will also provide sufficient area for treated waste water to be evaporated into the air instead of running into the creek or lagoon at Surfrider Beach, said City Council member Sharon Barovsky.
Dealings for the site, which was owned by the Malibu Bay Co., were originally scheduled to close by Dec. 31, Stern said, but the deadline was extended.
Malibu Bay Company offered to sell the city the land during fall 2005, and Barovsky was the mayor at the time.
The extended deadline had positive results, as “it saved the city of Malibu a great deal of money,” Stern said.
The extra time allowed the city to generate revenue bonds, Barovsky said, which was the source of most of the money to buy the property.
Revenue bonds are generated from the rent a property receives, and the city brought in money from three existing properties that lie on the site, which are Malibu Lumber, Coldwell Banker and Malibu Animal Hospital.
Barovsky said these properties will contribute continued revenue to the site, so the city will use none of the taxpayers’ money to buy or keep the land.
Malibu residents have also played a vital role in giving the city the opportunity to purchase the Chili Cook-Off site.
Residents started raising money in November and were able to donate almost $2.5 million to the project, marking a historic community fund-raising effort.
“We sent out letters and held meetings asking people for help, and key active leaders helped with the fund-raising,” Barovsky said.
Though not everyone responded, Stern said, contributions were received from more than 1,000 different sources.
“We have great plans for the site, and I think it’s wonderful that the community wants to support our efforts,” said Reza Feldman, services director at the city administrative office.
State and local grants also helped the city acquire the needed $25 million, Feldman said.
Barovsky said the land was appraised at $34 million.
Malibu Bay Co., gave the city a bargain, Barovsky said, and was cooperative through all the dealings.
City Council Member Jeff Jennings agreed, and said everything went as expected.
“The city has planned a large project that will take some time, but the acquisition of the land was the first step,” Jennings said. “Things don’t happen overnight.”
Barovsky said she believes Malibu Bay Co. was cooperative because it wanted the city to have a central park and address the water issue.
However, there are restrictions to the lease, Jennings said.
“The only possible structure the agreement allows for is the waste and storm water facility, which must be a certain size,” he said.
The agreement specified that the area could not be used to build a ballpark or an active recreation area, Jennings said.
Also, no structures are allowed to be built.
“My personal preference would be to allow the grass area to be used for a soccer field, but it’s not allowed,” he said.
Despite the restrictions, most of the community supports this Legacy Park Project, Barovsky said.
Pepperdine has helped by donating land to the city.
“I would like to thank Pepperdine for their contribution, as they donated two acres to the waste and storm water facility,” Barovsky said.
Barovsky said she believes the waste and storm water facility will be a great help in Malibu, as it will help with the reduction of pollution.
The city does not anticipate the park and waste and storm water facility to be completed until 2011, Feldman said, but this gives Malibu residents a lot to look forward to in the future.
04-06-2006