A New Law Could Force Billionaire Vinod Khosla To Sell His Land If He Doesn't Open Access To The Beach
REUTERS / Stephen Lam
Last week, San Mateo County Superior Court Judge Barbara Mallach ruled that Khosla must seek a permit from the California Coastal Commission before locking the gates that lead down to Martin's Beach, a small surfer's haven in the Bay Area.
Khosla blocked public access to the beach after purchasing a 53-acre parcel there in 2008. He reportedly paid $37.5 million for the property.
Surfrider Foundation, an environmental organization with strong ties to Martin's Beach, filed suit against Khosla in March 2013.
Eric Risberg / AP Images
According to the San Jose Mercury News, Khosla's lawyers have been considering an appeal to the case that would preserve the billionaire's property rights.
But now, a new bill signed into law by California Governor Jerry Brown Tuesday requires the State Lands Commission to negotiate the purchase of a public right-of-way access through his private property and down onto the beach.
If the commission cannot reach an agreement with Khosla by January 1, 2016, it can use eminent domain to force a sale of Khosla's property.
The bill, SB 968, was introduced by State Senator Jerry Hill in February. It was approved by the State Senate in August and had been awaiting approval by Brown.
Hill told the Mercury News that the signing of the law is an "affirmation of the public's right to their beaches and the idea that no one is above the law and no one can buy a beach."
Courtesy of Surfrider Foundation / Nick Allen
"It really shows the popularity of the issue, that the local Senator thought it was important enough to his constituents to push this bill through the Senate," Chad Nelsen, Environmental Director for the Surfrider Foundation, said to Business Insider in September.
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market