2010 CPEO Military List Archive

From: Lenny Siegel <lsiegel@cpeo.org>
Date: Fri, 15 Jan 2010 16:42:50 -0800 (PST)
Reply: cpeo-military
Subject: [CPEO-MEF] REUSE: Treasure Island (CA) needs cash
Shortfall could scale back Treasure Island plans

John Coté
San Francisco Chronicle
January 15, 2010

San Francisco's grand vision for a cutting-edge green community on Treasure Island is at least $60 million short of being financially feasible, despite officials' assurances that the project is supported by revenue projections.

The city's plan is $60 million to $90 million shy of the projections needed to have private developers and the Navy agree to the deal to transform the former naval base into San Francisco's newest neighborhood, The Chronicle has learned.

If unaddressed, the shortfall threatens to unravel a complex deal almost 15 years in the making. The developers and city officials both say the gap is bridgeable, but cost-cutting options discussed at a closed-door Treasure Island Development Authority board briefing this week will probably be controversial.


For the entire article, see


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918

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