There appears to be a misperception (and misrepresen-
tation by its opponents) that a “Yes” vote on Measure “M” (approval of the Malibu Bay Company Development Agreement) in November will increase the amount of commercial development by the Bay Company. The converse is true. It will reduce it.
Of the 137 acres of vacant property in and around the Civic Center designated as “commercial” in the City General Plan adopted in 1995 by the City Council, the Bay Company owns 46 acres including the 20-acre Chili Cook-Off site. Of the Bay Company’s 46 acres, the Bay Company Agreement provides that 16 acres will remain as open space and the City will have the right to acquire the 20 acre Chili site to be used for parks, open space, gardens, playgrounds, wastewater management facilities, etc. That leaves the Bay Company with a total of 10 acres in the Civic Center for potential development and eliminates one of the two potential shopping sites on Bay Company property in Malibu. The other site is located in Point Dume.
The Bay Company, at some future date, may elect to increase the size of the improvements in its Trancas Commercial Center. However, under the Bay Company Agreement, any increase will be substantially less than the potential development on the property under existing city ordinances.
Vote “Yes” on Measure M for less commercial development and more parks, open space, gardens, etc.
Dave Kagon