|From:||Lenny Siegel <email@example.com>|
|Date:||31 Oct 2006 21:02:41 -0000|
|Subject:||[CPEO-IRF] Treasure Island (San Francisco, CA) plan wins commission approval|
SAN FRANCISCO Treasure Island makeover plan gets thumbs-up Board of Supervisors is next hurdle for $1.2 billion proposal
Robert Selna San Francisco Chronicle (CA) October 31, 2006
The city commission overseeing the former Treasure Island Naval Station approved a plan Monday to spend more than $1.2 billion to transform the 403-acre island and its smaller neighbor, Yerba Buena Island, into a self-sufficient community with 6,000 homes, a new ferry terminal and 300 acres of open space.
The seven-member Treasure Island Development Authority, appointed by the mayor, gave its support for a building blueprint that has been three years in the making.
The plan calls for nearly $500 million in private investment and $700 million in borrowing by the city through the issuance of bonds backed by property taxes collected from the island after development is completed.
For the entire article, see http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/10/31/TREASURE.TMP
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