California Code, Streets and Highways Code - SHC § 104.23

(a) Notwithstanding any other law, the department shall declare that the Pedro Point excess property identified in Director's Deed DD-028801-01-01, also known as the “Disney Lot,” is surplus state property acquired by the expenditure of tax revenues and located in the coastal zone, pursuant to Section 10 of Article XIX of the California Constitution.  The department shall provide for the transfer of this property to the Department of Parks and Recreation for state park purposes as provided under Section 10 of Article XIX of the California Constitution.

(b) The transfer of the property required by this section serves a public purpose.

(c) For purposes of the transfer required by this section, the value of the property shall be the price paid by the department for the original acquisition of the property.  The original acquisition price shall not be adjusted for inflation.