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"Bay Area residents could soon regain access to the once popular Martins Beach tech investor Vinod Khosla purchased eight years ago\u2014but for the steep price of $30 million.\nLawyers for Khosla, a wealthy Silicon Valley investor who previously co-founded Sun Microsystems, have sent a letter to California\u2019s State Lands Commission with the offer earlier this month, according to a report from the New York Times. The price is almost as much as Khosla paid for the entire 53-acre property he purchased in 2008, when he paid $37.5 million for the stretch of land and beach.\nThe commission, however, isn&amp;#8217;t liking the offer too much.\n&amp;#8220;We do not agree with that value, and we believe the value is significantly less than that,&amp;#8221; the commission\u2019s executive officer, Jennifer Lucchesi, told the Times. &amp;#8220;We have not seen any backup documentation to support the $30 million value.&amp;#8221;\nKhosla initially allowed public access through Martins Beach Road, which connects the highway to the waterfront, after he purchased the property, but he closed it off in 2010, triggering a years-long battle to reopen the beach. In January 2015, legislation took effect that gave the commission one year to negotiate a deal to restore public access. However, if the two sides can&amp;#8217;t come to an agreement, the state does have the option of resorting to eminent domain to take over private property for public use.\nIn the letter, Khosla&amp;#8217;s attorney, Dori L. Yob, said that his limited liability companies, which own the property, closed access to the beach because of low demand."^^<http://www.w3.org/2001/XMLSchema#string>
<http://fortune.com/2016/02/23/khosla-beach-30-million-offer/>