Without knowing your budget, it would be hard to say, but I would check out the the Cabrillo Arts Pavilion. It's right on the beach with great views and runs around $3000 I believe... Talk to Leslie and tell her Debbie from Amazing Sounds sent you, she will take great care of you!
If that's out of your price range, you might try the Elks Lodge in Goleta. They are about half the cost, but I believe they have a 125 person minimum. They also have a nice outside Gazebo as well and their food prices are pretty reasonable (they do a great Tri-tip dinner!)...
Or, for even less, you can have your wedding and reception at the Santa Barbara Veteran's Memorial Bldg. It's on Cabrillo Blvd. right across the street from the beach and there's a garden area (for ceremonies), BBQ pits, kitchen, HUGE hall (good for 300!) and includes tables and chairs in the rental price. I don't recall what the pricing is, but I know it's very inexpensive. However, the hall is 'old' - all hardwood floors, but the building has been there for many, many years.
I hope this helps...
Debbie and Alan McKenzie - Owners of Amazing Sounds Mobile DJs
Try some of the restaurants in town! Most of them don't charge any rental fee at all and they come with all the tables, chairs, linens, plates, glasses, etc. that you would normally have to rent with traditional reception halls. So you'd be getting a great place for just the price of food/bev. Most do have a minimum food/bev. purchase, but you are likely to spend way more than the minimum if you go with a separate venue, caterer, rental company, etc.
Also, Elks lodge really is great and probably the most reasonable reception hall in the entire area. They were already booked the day we wanted our wedding so thats really the only reason we didn't go with them.
We're getting married on the beach(which is free) then walking across the street to Casa Las Palmas in Chase Palm Park. We aren't having a big wedding since we might have 50 people, so it works out fine for us. You can rent it for as long as you want too for $100/hour which isn't too bad. If you need a bigger space for more people, what the DJ guy said, the Cabrillo Pavillion Arts Center is right down the street and much bigger, but more money and it books up FAST! There's another building across the street that is also in the same park that is kindof the in-between size and price. Check out http://www.santabarbaraca.gov/beachfront/main.htm for info on all three.
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