Laguna Beach — The City Council voted to advance a package of actions intended to preserve two historic artist live/work properties by transitioning them into the newly formed Laguna Beach Community Land Trust (CLT).

Staff described negotiated purchase terms, a proposed loan structure, and assignment of consultant services to the CLT. The two properties in question were negotiated below prior listing and appraised values; staff recommended a five-year, $8,000,000 loan at a fixed 4% interest rate secured by the properties, with quarterly interest payments and covenants to protect affordability and restrict certain development until the city’s investment is recovered (staff presentation, SEG 3168–3230).

Dozens of residents, artists and arts leaders spoke in support, stressing that affordable live/work space for artists is vital to Laguna’s cultural identity and pledging fundraising and technical assistance. Several speakers noted the CLT model would remove the property from speculative markets and preserve affordable studio and living space in perpetuity (public comment, SEG 3272–3466).

Council discussion focused on underwriting, governance, risk mitigation and the strength of the CLT board. Council members praised the CLT’s board and the breadth of community support and asked staff to return with final loan documents, insurance details, and an updated fleet-replacement schedule tied to the proposed loan source. The motion to proceed with the recommended actions and assignments passed by council vote.