(August 1, 2008) -- As flashed on LBReport.com's front page on afternoon Friday (Aug 1), Studebaker LB LLC (Studebaker/Loynes site owner/developer) issued a release through spokesperson Mike Murchison, stating in pertinent part:

"Studebaker, LB LLC settled with Los Cerritos Wetlands Trust in order to avoid additional expense and continued litigation of issues. Studebaker has decided to address the additional information required by the court in order to be consistent with the court's ruling. Public comments by interested parties involved are counterproductive to the terms of the settlement as the settlement is not yet finalized. Studebaker, LB LLC wants to make it very clear that the settlement does not in any way preclude us from moving forward with the proposed project, and, as such, are actively pursuing revisions to the EIR with the City of Long Beach, consistent with the Judge's order. We look forward to working with local officials and the community in providing a successful project on a site that the majority of Long Beach residents agree needs to be improved."

The statement comes after word (via a member email, apparently obtained by a number of media outlets) that Studebaker, LLC would be dismissing its appeal of a Superior Court ruling that de-certified the City Council-certified "Environmental Impact Report" (6-3, O'Donnell, Schipske, Gabelich voting against certification) for a "Home Depot" anchored project on the site.

The court action challenging the EIR had been brought by the Los Cerritos Wetlands Land Trust (LCWLT) and the University Park Estates Neighborhood Association (UPENA). The email also indicated that under the settlement, not yet finalized, LCWLT and UPENA would receive "a significant amount of the legal fees they paid" in pursuing the legal action.