Council approves amendment to support Community Land Trust acquisition; closing targeted for Feb. 6
Loading...
Summary
Council approved the artist live/work unit amendment and expressed support for the Community Land Trust’s acquisition; CLT representatives said due diligence is nearly complete and they expect a Feb. 6 closing.
Laguna Beach’s City Council approved the recommended amendment to the purchase and sale agreement for an artist live/work unit and heard that the Community Land Trust is preparing to close on the property in early February.
Christine Thalman, president of the Community Land Trust, told council the organization had hoped for a Jan. 6 closing but that site visits and holiday scheduling pushed work into January. The land trust’s board member Jeff Randolph summarized due-diligence progress — environmental and condition reports completed, a property manager identified and banking/donation mechanisms set up — and said the CLT was targeting a Feb. 6 closing.
After brief staff comment and no objections, council moved and unanimously approved the recommended action to advance the CLT transaction and related contract amendment.
