City Monitors Plan to Swap Open Space

Calabasas officials are taking a wait-and-see attitude about a proposed land swap between a developer and the Santa Monica Mountains Conservancy involving 150 acres of open space in the city.

The conservancy would swap 80 acres it owns around the Las Virgenes Reservoir for the Calabasas property, which is owned by Village Properties.

The proposal is designed to settle the developer’s lawsuit against the conservancy and the Las Virgenes Municipal Water District.

The conservancy says it is undecided about whether to formally consider the proposal, which would require public hearings.

“We’re going to wait until we hear from the conservancy,” Calabasas City Councilman Marvin Lopata said Thursday. “You can’t jump to a conclusion on this.”

Village Properties sued after the water district purchased 492 acres of land near the reservoir that the developer had been trying to buy for a housing tract.

The water district bought the land in 1993 and sold half to the conservancy.

Village Properties says the two agencies conspired to keep it from purchasing the land.

The home builder, which wanted to construct 330 luxury homes near the reservoir, had sought $60 million in lost profits.

A judge sided with Village Properties and the two agencies were ordered to pay Village Properties $11.2 million, which was eventually reduced to $4.2 million.

The Westlake Village City Council directed staff members Tuesday to begin the process of changing the land’s zoning from low density residential to open space. The land is home to a rare endangered flower called the Pentachaeta Lyonii.

City Councilwoman Karyn Foley said earlier this week that she fears the cash-strapped conservancy may sell the 150 acres to raise money.

Lopata, who sits on the advisory committee of the conservancy’s board of directors, said the land has little value because it’s too steep to be developed.