From 2016 [Update], the Malpaso land, formerly owned by Eastwood and currently owned by the Big Sur Trust, will be closed to the public and there are no plans for public access. To manage the sale of water, Eastwood created the Malpaso Water Company, LLC, which was allowed to take out subscription contracts with new water users. Eastwood`s new water company can receive up to 200,000 $US per foot of Acre.  Under the terms of Eastwood and Johnson`s donation of the Odello land to the Big Sur Trust, they received a tax depreciation of $6 million.  The six Oklahoma buyers, who had meanwhile flown to California to visit the property a second time, were "stunned" to learn that their agreement had been denied for an agreement arranged by Coastal Commissioner Leavy as counsel for the trust. They had no idea that he was acting in any capacity other than a civil servant.  The Trust has negotiated a number of agreements of approximately 17,000 acres (6,880 ha) with private owners in order to preserve the land without transfer of ownership. In these cases, landowners undertake to renounce the right to develop the land and preserve resources on a lasting basis.   The agreement between DWR and the PSC contractors resulted in PSC contractors donating more than 14.6 billion gallons of water (worth approximately $314 million in 2016). The agreement that changed the long-term contracts of cities and farms for the water supply of the state`s water project is known as the Monterey Agreement. The landowner benefits from a single tax reduction that removes the difference between the previous market value and the value based on the development capacity of the land. They also benefit from a continuous reduction in property taxes.
The conservation agreement provides that conserved land is to be used on the basis of values and intentions established by both parties.  The Big Sur Folk Festival was held from 1964 to 1971. It all started inadvertently when Nancy Carlen, a friend of singer Joan Baez, organized a weekend seminar at the Esalen Institute in June 1964 called "The New Folk Music." On Sunday afternoon, they invited all the neighbors to a free and open performance. It became the first festival.  The festival was held annually on the site of the Esalen Institute, with the exception of 1970, when it was held on the fairgrounds of Monterey County. . . .