Beachfront Site to Be Dedicated
Thirty-six acres of beachfront property with an appraised value of $50 million will be dedicated to the state of California Wednesday in a ceremony at the Mandalay Beach Resort Hotel in Oxnard.
Developers Aaron L. Raznick and Karl O. Bergheer agreed to donate the property to the state in exchange for the right to develop the hotel and the Colony at Mandalay Beach, a community of 440 beachfront homes. The developers have also spent $2 million for improvements on the 36 acres of land, including the construction of a bike path and walkway.
Expected to attend the ceremony are John Flynn, a Ventura county supervisor; Nao Takasugi, Oxnard’s mayor, and other state and local officials.
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