Class Action Lawsuit Against the City of Hermosa Beach?

Homes For Sale on  Zillow.com MLS in Hermosa Beach Over 30 Days

The City of Hermosa Beach better have a their legal defense budget ready because real estate values in South Hermosa are not appreciating like the rest of the market.  Homes are not selling like the rest of the community as buyers continue to question the likelihood of oil drilling in their neighborhood.  Obviously, no one wants to live near the noise and potential safety and health hazard. This map above shows you the number of homes in Hermosa Beach that have been on the market over 30 days as of April 2013.  You wonder why know one wants to buy in South Hermosa Beach and if oil drilling passes their could be masses loses?

This is why the City of Hermosa Beach and the City Council will be liable for entering into a 3rd party settlement agreement with another oil company and not settling the Macpherson lawsuit separately.  Oil was and currently is banned within the City and the City Council failed to honor this law.  If the City had settled the lawsuit with Macpherson and then brought oil drilling to a public vote this would not be an issue.  However, they entered into an illegal settlement agreement with E&B Natural resources thereby ignoring all the laws that were currently in place banning drilling.

This is why the settlement is illegal and each member of the City Council should be held personally liable and a class action lawsuit is not out of the question. Listen to all the hypocrisy, lies, deception and intimidation in this video.  Several real estate brokers are concerned that real estate in South Hermosa Beach is going to be depressed as long as the oil drilling issue not resolved.

Here is a national map of all the class action lawsuits related to oil and gas drilling.