The town hereby finds that preservation of the land involved in its present use will conserve and enhance natural and scenic resources in the town, county, and state; will help protect the water supply of the town; will promote conservation of soils, shorelands, beaches, and Lake Washington; will enhance the value to the public of neighboring and abutting wildlife sanctuaries, and other open space; and will greatly enhance recreation opportunities;

The council hereby classifies and zones all the land owned by the Western Academy of Beaux Arts being the westerly portion (westerly approximately 100 feet or more) of the town of Beaux Arts Village abutting upon the eastern shore of Lake Washington together with those corridors for access to such land, as "open space land" set aside for preservation as recreational land in accordance with Chapter 84.34 RCW.