Quote of the Day - So, we're saying, if we can give developers and builders incentives to cut down on the regulatory barriers that are faced in this country, then we might be able to address the needs of affordable housing.
Just last September, MIPTC reported to you that the City of Malibu and Trancas-PCH, LLC got tangled up in the Court of Appeal over a development that's taken more than 20 years to come to term, and unfortunately for everyone involved (except the neighboring property owners association), it still hasn't.
No one should be surprised why California's housing prices are so high and we have a difficult time bringing young talent into our fair state from elsewhere in the county and across the world. The housing shortage is due in large part to the problems related to the time it takes to develop houses and the attendant carrying costs.
Here the City and Developer were embroiled in litigation and each agreed to settle. The deal required Trancas to dedicate three-fourths of its property to the City to preserve as open space, and City agreed to allow Trancas to develop the remaining one-quarter of its thirty-five acres. Some ninety homeowners live nearby, and they sued because the City agreed to certain zoning exemptions to allow the development, and then approved the settlement in closed session. The lawsuit tactic is commonly known as NIMBY.
The appellate court reversed the trial court's approval and vacated the settlement. The parties are back at ground zero, but perhaps this time with a better road map to accomplish something close to the same thing. Perhaps next time MITPC covers this long-running saga, someone will be pouring foundations.