Citizens
Citizens for Goleta Valley v. HT Santa Barbara
Opinion
Opinion
Yegan, J.
HT Santa Barbara and Great Universal Capital Corporation (GUCC) appeal from the judgment entered after a court trial in favor of Citizens for Goleta Valley (Citizens) and Goleta Valley Land Trust, respondents. The judgment requires appellants to provide a bond or letter of credit securing their payment obligations pursuant to a settlement agreement. We affirm.
Factual And Procedural Background
In June 1991 GUCC and Hyatt Development Corporation entered into an agreement with Citizens settling all claims relating to a hotel project on Haskell’s Beach in unincorporated Goleta, Santa Barbara County. Prior to the settlement, the parties’ claims reached the appellate courts. (See Citizens of Goleta Valley v. Board of Supervisors (1990) 52 Cal.3d 553 [ 276 Cal.Rptr. 410 , 801 P.2d 1161 ]; Citizens of Goleta Valley v. Board of Supervisors (1988) 197 Cal.App.3d 1167 [ 243 Cal.Rptr. 339 ].) The settlement agreement provided for the development of the project by GUCC and the establishment of a trust fund by Citizens. The purpose of the trust fund was to acquire, restore, and preserve “open space lands, lands of recreational significance or lands of ecological or environmental…