COUNCIL SEEKING GOLF CLUB COMPLEX.Byline: Harrison Harrison, town (1990 pop. 13,425), Hudson co., NE N.J., an industrial suburb on the Passaic River opposite Newark; inc. 1869. The town has several foundries. Its manufactures include plastics, paperboard, and metal products. Sheppard Sheppard can refer to:
Seeking to keep the site from being developed for senior housing, the Los Angeles City Council  The Los Angeles City Council is the governing body of the City of Los Angeles, California, United States. launched an effort Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant to buy the Studio City Golf and Tennis Club, even though the builder has offered to turn over most of the land to the city for free. The council voted 11-1 to ask staffers to get appraisals and make an offer on the 17-acre property, dubbed dub 1 tr.v. dubbed, dub·bing, dubs 1. To tap lightly on the shoulder by way of conferring knighthood. 2. To honor with a new title or description. 3. the ``crown jewel Crown jewel A particularly profitable or otherwise particularly valuable corporate unit or asset of a firm. Often used in risk arbitrage. The most desirable entities within a diversified corporation as measured by asset value, earning power, and business prospects; in takeover of Studio City.'' Appraisals place the potential value of the land at anywhere between $46 million and $75 million. Councilwoman Wendy Greuel Wendy Greuel is President Pro Tempore of the Los Angeles City Council representing the 2nd District. Greuel was elected in 2002 to fill the remainder of the term of Councilman Joel Wachs. She was elected in her own right in 2003 and reelected in 2007. wants the city to buy the facility to prevent its owners from selling to a developer who plans to build a 240-unit market- rate senior housing complex on a small portion of the site. ``This item is extraordinarily important to many of our Valley residents,'' Greuel said. ``The Studio City Golf and Tennis facility has served the community's recreation needs for nearly 50 years. ... It's a treasure for our Valley.'' Homeplace Retirement Communities of America has proposed building on 25 percent of the land and giving the rest to the city to use. The proposal would leave the golf course intact, but would eliminate the tennis courts, although the developer has offered to help build tennis courts elsewhere in the area. Greuel and the Studio City Residents Association, however, want to preserve the entire property - except for 1 acre, which the Fire Department is eyeing for a new station. Mayor James Hahn For the Iowa politician, see . James Kenneth "Jim" Hahn (born July 3, 1950) is an American politician from the Democratic Party. He was the Deputy City Attorney (1975-1979), City Controller (1981-1985), City Attorney (1985-2001) and Mayor of Los Angeles, California supports Greuel's effort, although he is waiting to see the final financing plan, said Deputy Mayor Matt Middlebrook. Homeplace has struck a deal with the landowner to buy the property for $12 million. The land has been in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. for several years while the developer seeks the zoning changes needed to build the senior complex. Guy Weddington McCreary, one of the landowners, said he and the developer will fight the city's efforts, which could force the city to resort to condemnation Condemnation bell, book, and candle symbols of Catholic excommunication rite. [Christianity: Brewer Note-Book, 85] Bridge of Sighs passage from Doge’s court to execution chamber in Renaissance Venice. [Ital. Hist. proceedings. He argues that Homeplace's offer to turn over most of the land to the city is fair, and would save the city money - a critical issue during the current budget crisis. ``They want to take millions of dollars of taxpayers' money and buy a property they would've been given free,'' McCreary said. ``That's beyond logic, and that's what's wrong with government.'' Homeplace CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Stephen Taylor said the property has been appraised for at least $46 million if it is zoned for residential use and as high as $75 million if it gets the commercial designation consistent with nearby properties. His company will take the lead in negotiating with the city, and he said they might agree to a voluntary sale if the city's offer comes close to $46 million. But he said he can't understand why the city would pay for a property when it could get most of it at no cost. ``If the city can, for free, get 75 percent of the land preserved as open space, why are they going to risk tens of millions of dollars in the process? That makes no economic or civic sense whatsoever.'' Councilwoman Ruth Galanter Ruth Galanter was a city councilwoman from Los Angeles. She served as President Pro-Tempore and President of the city council. , the lone dissenter on the vote, also questioned spending taxpayer money to buy the facility. She asked why the city couldn't simply reject the zone change request, forcing the property to stay under its current usage. She also noted that the club now charges lower fees than the city does for its public facilities. ``I don't understand what the hurry is,'' said Galanter, who represents the east and central San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . ``If it's a question of rezoning in order to develop senior housing, which I happen to support ... why not just reject the rezoning and let the tenants of the golf club continue to operate with the lower fees than we charge and under private management as it has for 50 years?'' ``Why are we spending this money, especially when we're telling the public we don't have any?'' But city officials said even if the zone change request is rejected, the landowner could refuse to renew the golf course lease when it expires in less than two years and could keep coming back with new proposals every year. The council motion called for city officials to study ways to finance the purchase, although Greuel said she thinks it can be done without costing the city's general fund or golfers additional money. The facility generates enough revenue to repay loan costs, with some help from a ``small portion'' of the city's golf fund to help leverage revenue bonds, she said. The golf fund is generated by fees golfers pay on city courses citywide and is intended to maintain and improve courses. If money is taken from the fund, Greuel said, it would not be enough to force an increase in golf fees. Greuel also said the city could pass an exception to the citywide golf course rates allowing this facility to maintain its lower fees. CAPTION(S): map Map: Studio City Golf and Tennis Club Daily News |
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