News City Mgm't Outlines Plan To Acquire Los Cerritos Wetlands By Swapping City Property Elsewhere With Wetlands Owner/Developer Dean; Deal Isn't Done; Will Be Brought To Council For Discussion And Ultimately Council Decision
(Nov. 12, 2008, initial blitz edition; further to follow) -- LB city management today (Nov. 12) outlined a management plan that will be brought to the City Council for discussion (including a study session on Tuesday Nov. 18) and eventually a voted decision for a land swap that would enable City Hall to acquire the 175-acre Los Cerritos wetlands in exchange for swap of other city properties to wetlands current owner Tom Dean (LCW Partners, LLC).
 Wetlands image via City of LB
At today's briefing (held at the Aquarium of the Pacific's auditorium), City Manager Pat West spoke briefly, then introduced Assistant City Manager Suzanne Frick who conducted the presentation.

Ms. Frick indicated that that what she presented is management's plan and not a done-deal. She told LBReport.com that the financial numbers bring cited now are estimates, not firm appraised values, and current appraisals haven't been done yet.
She explicitly noted that the plan is subject to Council approval.
LBReport.com has initial reaction from several Councilmembers and Mayor Bob Foster. To view it, click here.
As outlined by Assistant City Manager Frick today:
City Hall would swap a package of City properties for the 175-acre SE LB Los Cerritos wetlands, now owned by developer Tom Dean.

In the swap, Mr. Dean would acquire the city's Public Service Yard on San Francisco St (next to the L.A. River) and LB's Gas & Oil HQ on Spring St @ Junipero St (next to the 405 freeway) plus two other "remnant" parcels. "The Spring St. frontage on the Hilltop Property could be developed for commercial purposes with the remainder developed for light industrial purposes. The Gas & Oil site could be developed for commercial and/or retail purposes," said a city management briefing paper given to reporters.
Wetlands owner Dean would retain the oil and mineral rights to the wetlands conveyed to the City.
City Hall would sell the wetlands property to the Los Cerritos Wetlands Authority for a sum currently estimated $25 million. LCWA Exec. Dir. Belinda Faustinos indicated at the event that she believes her group can come up with the money...but acknowledged there's no plan in place for that at present. [The four-person LCWA governing board currently includes LB Councilmembers Patrick O'Donnell and Gary DeLong].
City management says it plans to use the money from sale of the wetlands sale to LCWA to support efforts to (1) acquire, restore and develop the 19-acre Wrigley Heights "oil operators" property as open space and (2) develop 18 acres of open space at what has been called the "Sports Park" site at Spring St/Orange Ave...that City Hall now calls the "Hilltop Property." City management says the Sports Park project (estimated cost: $50 million) is unfunded and no longer feasible.

Management's briefing follows a Nov. 5 story in The District Weekly by Senior Editor Dave Wielenga that included/forecast salient terms of the plan.
Subsequent stories by other outlets suggested that a deal had been reached between City Hall and the developer, but management indicated there is no deal for now...and any such deal would be subject to Council approval.
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