Two acres of land, known as the Wave property, will be donated to the city in exchange for a building variance. In another land deal, the Bluffs Park appraisal is in, setting the city’s purchase in motion.
By Jonathan Friedman / Assistant Editor
The Malibu Residential Housing Group, of which Pepperdine University is the general partner, has formally offered to donate to the city of Malibu two acres of a property located behind the old City Hall on Civic Center Way.
A letter was sent to Councilmember Sharon Barovsky late last week from MRHC attorney Thomas Gehring stating the university will donate the portion of what is known as the Wave property in exchange for a variance to increase the amount of square footage it is allowed to build on the site. A formal development agreement must be prepared and approved by the City Council.
Although MHRC would be receiving an increase in allowable square footage from the city standard 15 percent of the property to 20 percent, the increased square footage would only be a little less than 3,000 square feet. This is because the size of the property would be decreased through the donation to the city from 9.3 acres to 7.3 acres.
Dennis Torres, Pepperdine’s real estate director, said there are no immediate plans to build on the property, but the school would like language placed in a development agreement that would state, once there are plans, they will be put on “a fast track.”
The city’s acquisition of the two acres would save the city money on buying land for a wastewater treatment facility. It could then place the focus of its fundraising toward the Chili Cook-Off property, the 20-acre site that stretches along Pacific Coast Highway from Webb Way to Cross Creek Road. The Chili Cook-Off site, which the Malibu Bay Co. has offered to sell for $25 million if Malibu can come up with the money by Dec. 31, is desired by many for municipal purchase so it can be put out of the development marketplace. Also, the property would be a destination for the treated wastewater, and a wetlands system created there would be used to slow the flow of storm water.
The city will raise $10 million through $1.5 million in Measure S bond money and by using the three structures on the Chili Cook-Off property as leverage to receive a loan that will be repaid through the rent money. Also, $7.5 million has been offered from a group of state agencies if the city can come up with matching dollars through local fundraising and receiving money from other agencies.
Councilmember Sharon Barovsky said the city has asked for private donations from the community, including Ozzie Silna and the Malibu Coastal Land Conservancy. Silna said he could raise the money needed.
“Raising $3 million is a piece of cake,” said Silna, who added he has spoken to others in the community and believes he can raise more money.
Also this past week, the city received word that it will cost $2 million to purchase the portion of Bluffs Park containing the ball fields. Integra Realty Resources did the appraisal of the property, and will formally present the city with the information later. City Manager Katie Lichtig said the City Council must officially approve the deal it made with several state agencies earlier this year that will allow it to buy the 10 acres of Bluffs Park. The state Department of General Services must also review the agreement. And an agreement needs to be drafted and approved by state agencies to formally transfer the entire Bluffs Park from the California Department of Parks and Recreation to the Santa Monica Mountains Conservancy, as the larger deal requires. Lichtig said she is hopeful all of these matters will be completed within the next 60 days.
The Bluffs Park deal will allow the city to take possession of the ball fields there and guarantee the Malibu Little League and AYSO will not be forced off the property, as State Parks had threatened previously. But there is still a desire in the community to acquire more property for ball fields. At last week’s City Council quarterly meeting, it was announced an account would be set up through Step up to the Plate Inc., which would raise money for municipal land acquisition for ball fields and a dog park.
Previously, it was planned that bylaws and a 10-member committee would be formed to head Step up to the Plate, but that plan has been scrapped in favor of just having an account overseen by the city. The council will vote on creating the account at its May 23 meeting.