The Newport Beach City Council approved a draft environmental report, advancing the 1,375-home Banning Ranch development.
The 401-acre project, which also will feature commercial development, also must be approved by the Orange County Transportation Authority and the state Coastal Commission. The project by developer Newport Banning Ranch would tag 20 acres for oil production, with 242 acres to be set aside as open space and for parks.
The council voted 6-0 to advance the project, with Councilman Rush Hill abstaining due to a potential conflict of interest. Much of the four hours of public comment was positive, but environmental group Banning Ranch Conservancy again raised concerns about the impact the project would have on wildlife.
The conservation group reportedly hopes to raise enough money to buy the tract and preserve it in its entirety as open space.
Newport Banning Ranch has pledged a $42 million public benefit fee to the city. The developer estimates its anticipated oil cleanup costs at the site—which for decades has been used for oil production—will exceed $30 million.
