Monday, November 08, 2010
BAKERSFIELD, Calif. (November 5, 2010) Tejon Ranch Co. (NYSE:TRC – News) announced today that Kern County Superior Court Judge Kenneth C. Twisselman has ruled in favor of Kern County, Tejon Ranch Company, and its development partner DMB Associates, Inc. when he found that the County had properly analyzed and evaluated the environmental effects of Tejon Mountain Village. The Kern County Board of Supervisors unanimously approved the mountain resort community in October 2009. In his ruling, Judge Twisselman rejected claims made by the Arizona-based Center for Biological Diversity and a small group of local environmental groups that the environmental impact report for Tejon Mountain Village was inadequate.
“We are elated that the judge struck down this baseless challenge,” said Tejon Mountain Village spokesman David Crowder. “This ruling is a testament to the quality of the plan and the many years of planning, community input, environmental and public review that it was subject to.”
“Tejon Mountain Village is going to be quite an asset for Kern County,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “It sets a new standard for environmental sensitivity, sustainability, good planning, and soon, good living. We’re pleased the judge’s ruling gives us the green light to move forward with our plans.”
“We are very proud of the hard work and planning that has gone into Tejon Mountain Village which is destined to become a remarkable mountain resort community and an essential part of the conservation of the vast majority of Tejon Ranch,” said Eneas Kane, President and CEO of DMB Associates, Inc. “The decision today is yet another step in achieving our vision for Tejon Mountain Village and proof that the development community and environmental community can work together successfully,” he said referring to the historic Tejon Ranch Conservation and Land Use Agreement.
Tejon Mountain Village is part of the historic Tejon Ranch Conservation and Land Use Agreement, executed by Tejon Ranch Company, Natural Resources Defense Council, the Sierra Club, the Planning and Conservation League, the Endangered Habitats League and Audubon California, in which the Ranch agreed to conserve up to 90% of its land and establish the Tejon Ranch Conservancy. The sales of most types of property within Tejon Mountain Village will generate an on-going funding stream for the operation and activities of the independent Tejon Ranch Conservancy.
About Tejon Mountain Village
As a part of the Tejon Ranch Vision of conservation, continued ranching, and limited development, Tejon Ranch and DMB Associates are carefully planning the development of Tejon Mountain Village. With approximately 80 percent of its land preserved as natural open space, Tejon Mountain Village will be a remarkable, environmentally sensitive mountain resort community. www.TejonMountainVillage.com.
About DMB Associates, Inc.
DMB Associates, Inc. is Tejon Ranch Co.’s partner in Tejon Mountain Village. DMB is one of the most respected real estate companies in the West, known for creating sustainable communities that thoughtfully and responsibly address the environment. DMB”s business practices are predicated on creating truly great places and on forging lasting, mutually beneficial partnerships with stakeholders, municipalities, landowners and communities. More information about DMB Associates, Inc. can be found online at www.dmbinc.com.
About Tejon Ranch Co.
Tejon Ranch Co. is listed on the New York Stock Exchange under the symbol TRC. Tejon Ranch is a diversified real estate development and agribusiness company, whose principal asset is its 270,000-acre land holding located approximately 60 miles north of Los Angeles and 30 miles south of Bakersfield. More information about Tejon Ranch Co. can be found online at www.tejonranch.com.