Statement by Malibu Bay Company

0
114

We wish to thank the many hundreds of Malibu residents who gave their wholehearted support to the passage of Measure M. The hard work by such a diverse cross section of the community was gratifying.

The voters of Malibu have decided that a development agreement for our properties is not in Malibu’s best interests, and the Malibu Bay Company considers their decision to be final. As we stated before the election, the company will no longer pursue, nor will it participate in, further negotiations aimed at creating a comprehensive development agreement with the City.

In relation to the future development of the 12 properties included in Measure M, the company will announce its plans when they are formulated, on a property-by-property basis.

Finally, we would like to thank the entire Malibu community for its consideration of the important issues raised by Measure M.

Malibu Bay Company