U2′s ‘The Edge’ Wins Approval From Santa Monica Conservancy Board

April 29th, 2011 | Posted by Global Investors

LOS ANGELES — A California agency has agreed not to oppose U2 guitarist The Edge’s plan to build five mansions overlooking Malibu in exchange for more than $1 million in funding and other services.

The Los Angeles Times reports Thursday that the Santa Monica Mountains Conservancy board voted 3-2 for the agreement this week. In return, the musician and his partners would pay $750,000 to help pay for trail easements and up to $250,000 for consulting services.

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