Taking a major first step toward fulfilling its pledge to build a permanent college facility in Malibu, the Santa Monica College board of trustees announced Monday, August 14th, that it had authorized college president Chui L. Tsang to enter into an agreement for the college to purchase a seven-acre site in that city for $8 million.
The property, offered to the college by the Hitoshi Yamaguchi family, is at 23801 Stuart Ranch Road, Malibu, adjacent to the Malibu City Hall in the Malibu Civic Center area.
The new facility would be developed under an existing joint powers agreement with the City of Malibu.
“We are excited to announce this development, which marks the first step in establishing a permanent Santa Monica College site in Malibu,” Tsang said.
Funding for the property acquisition comes from Measure S, the $135 million bond measure approved by Santa Monica and Malibu voters in 2004.
A total of $25 million of Measure S funds has been set aside for a Santa Monica College educational center in Malibu.