Conservancy Loses State Funding to Buy Land

Gov. Pete Wilson disappointed local conservationists when he rejected a measure that would have given the Santa Monica Mountains Conservancy $5 million toward the purchase of 238 acres of land slated for development in the Verdugo Hills, authorities said Wednesday.

But had the state funds come through, the developer who owns the land said his company would still have moved forward with plans to build 572 homes on the north Glendale property. With the land’s assessed market value of at least $46 million, the state funds that Wilson denied Tuesday would not have come close to approaching what the property is worth, he said.

“It’s a drop in the bucket,” said John Gregg, president of Gregg Development Co. “If someone is willing to pay for the fair market value, we are willing to talk to them. But I don’t know anywhere close in to Los Angeles where you can buy developable property with road access, all utilities to the site and partial grading.”

Such words have not deterred Assemblyman Scott Wildman (D-Glendale), who says that he intends to forge ahead with a similar funding proposal next year, despite the potentially higher cost of the land and failure to win the governor’s approval this year and last.

“There’s really a compelling public interest in maintaining the natural state of the land,” Wildman said. “We intend to work closely with the developers to reach an agreement to preserve land.”

Rorie Skei, Santa Monica Mountains Conservancy division chief, said the effort to purchase the property is part of the Rim of the Valley project, a plan to create a circle of open space around the urban areas of Los Angeles.