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RPV close to deal to acquire Nature Preserve Area

The City of Rancho Palos Verdes is very close to completing a deal to acquire approx. 200 acres of land known as Upper Filiorum , the "missing link" in the nature preserve area in the Palos Verdes Drive South Portuguese Bend area. The land will be added to the city's 1,200-acre, Palos Verdes Land Cnservancy-managed Palos Verdes Nature Preserve.

Last week, the Coastal Conservancy approved as part of the deal, a grant of $5.5 million for the $6.5 million purchase. The money comes from Proposition 84, a 2006 state measure that funds acquisitions for conservation and flood control projects.

A hiker strolls up the McBride Trail which borders the top of the Filiorum Parcel. The Palos Verdes Peninsula Land Conservancy is finally in position to acquire the last piece that will connect the Peninsula land reserve. (Steve McCrank / Daily Breeze Staff Photographer)

Rancho Palos Verdes is planning to contribute $650,000 toward the deal. About a third of that will come from state and county grants, while the majority will be from the city's capital improvement reserves.

Los Angeles County is also expected to kick in $50,000.

The Palos Verdes Land Conservancy must raise $400,000 by Dec. 31 to close escrow on the $6.5 million property, which is owned by York Long Point Associates, a group managed by Rolling Hills Estates developer Jim York. Former Los Angeles Mayor Richard Riordan is the chief investor in the group, York said. York's group has agreed to donate another 30 acres, designed to mitigate habitat impacts from its long-planned residential development next to the Upper Filiorum. 

Contributions may be made at www.pvplc.org or sent to PVPLC, P.O. Box 3427, Rolling Hills Estates, CA 90274.

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 1 commentMaureen Megowan • October 08 2009 01:51PM
RPV close to deal to acquire Nature Preserve Area
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