GLENDALE CLOSE TO BUYING OAKMONT LAND FROM DEVELOPER.

Byline: Nicholas Grudin Staff Writer

GLENDALE - The city has nearly finalized a deal to buy the controversial Oakmont View property in the Verdugo Mountains - a move that would end a 10-year battle against the planned Oakmont V housing development, officials said Friday.

Gregg's Artistic Homes, which planned to build the 572-home development on the 238-acre North Glendale property, suspended its lawsuits against the city over the project while the sale is negotiated, city officials said Friday.

``This has been a divisive and emotional issue for over a decade - in addition to preserving land, (this purchase) will get us past litigation that has cost millions of dollars,'' said City Manager Jim Starbird.

The City Council is scheduled to vote Tuesday on the purchase.

Once the city finalizes the deal, the land will be set aside as a natural park where trails will be maintained for hikers. Eventually, ownership will be transferred to the Santa Monica Mountains Conservancy, Starbird said.

The purchase price of the property - once valued at more than $50 million, according to Artistic Homes owner Lee Gregg - was not disclosed Friday. Sources close to the negotiations said the price would be about $20 million.

Part of the purchase price will come from more than $8 million in state bonds secured by U.S. Rep. Adam Schiff, D-Pasadena, Assemblyman Dario Frommer, D-Glendale, and the Santa Monica Mountains Conservancy. The remainder will come from Glendale's $60 million general fund reserve accounts, Starbird said.

``Having large sums of money sitting in the bank doesn't do much good unless we use it at an opportunity like this, to invest in something that will literally benefit the community forever,'' Starbird said.

The state funds going into the Oakmont purchase are either from land conservation bonds or had been previously secured, Frommer said.

The Santa Monica Mountains Conservancy referred all calls to Frommer's office.

At Camp Max Strauss, which borders the Oakmont View property, leaders of a Glendale environmental conservation group quietly celebrated their victory Friday afternoon after 10 years of garnering support.

``This is an absolutely wonderful day for all of the residents in Glendale. The devastation that that development would've inflicted on this community would have been horrible,'' said Marc Stirdivant, president of Volunteers Organized In Conserving The Environment. ``We won't uncork the champagne until City Council approves this on Tuesday.''

Developer Gregg, Glendale city officials and Frommer were equally pleased by the prospect of the deal.

``I'm relieved and overjoyed at the same time. It's not often we get to play Santa for the holidays, and settling this case will be a real gift to the residents of Glendale,'' said Councilman Gus Gomez.

Frommer agreed. ``I am very excited about the prospect of conserving this property - this is a great example of local government and state government coming together,'' Frommer said.

Gregg called the purchase a ``global solution for everyone involved.''

Odales Suarez and her 12-year-old daughter Ody have been members of conservationist VOICE for as long as Ody can remember. Strolling on a dusty path with the Oakmont V property looming over her shoulder, Ody still could not believe the news Friday afternoon.

``I don't want anything bad happening to these hills that I've walked in since I was 3 years old,'' she said.

The Glendale City Council will hold a special meeting Tuesday at 6 p.m. to finalize the deal.

CAPTION(S):

photo, map

Photo:

Odales Suarez, left, her daughter, Ody, Marc Stirdivant and Max Hobbs helped preserve the mountainside in the background from development. Glendale may soon buy the property.

Joe Binoya/Special to the Daily News

Map:

Oakmont site