pages: CityCouncil/2010-06-01.pdf, 13
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CityCouncil | 2010-06-01 | 13 | Councilmember/Board Member/Commissioner Tam inquired whether the City has received any indication from the Navy regarding whether the Navy would convey the land in phases and whether the issue would be related to funding issues. The Deputy City Manager - Development Services responded the City has made some assumptions as to what the Navy would do; detailed conversations have not taken place; the Navy is motivated to convey the land. Councilmember/Board Member/Commissioner Tam inquired what assumptions the City would like to see with respect to phasing. The Deputy City Manager - Development Services responded a couple issues in Phases 1 and 2 need to be resolved; stated Phases 3, 4, and 5 do not have significant issues; in general, the news is good. In response to Councilmember/Board Member/Commissioner Tam's inquiry, the Deputy City Manager - Development Services responded the pro forma assumes that the land would be taken down in 2012, with pads being sold in 2014 which is consistent with the clean up schedule, except for a couple of exceptions in Phases 1 and 2. Councilmember/Board Member/Commissioner Tam inquired whether the City assumes that the Navy would want funding all at once when Phase 1 is completed and conveyed. The Deputy City Manager - Development Services responded land payments have been discussed; stated payment timing has not been discussed. Councilmember/Board Member/Commissioner Gilmore inquired whether staff has discussed money with the Navy and how and when the Navy wants to be paid. The Deputy City Manager - Development Services responded staff has talked to the Navy regarding the Measure B plan; stated the Navy did not follow up after the initiative failed; the Navy stated that it has subsequent questions; conversations focused on SunCal's ability to guarantee payments; the Navy has questions regarding whether payments would be deferred, whether SunCal and D.E. Shaw would be capable of making payments, and what assurances the Navy would have regarding secured payments. Councilmember/Board Member/Commissioner Gilmore inquired whether the Navy has indicated whether it would be interested in some number other than the $108.5 million. The Deputy City Manager - Development Services responded in the negative; stated SunCal has made statements to the Navy regarding willingness to pay what is shown in the project pro forma; terms are not clear; the Navy will not have conversations with SunCal until the City okays the discussion. Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority, and 2 Community Improvement Commission June 1, 2010 | CityCouncil/2010-06-01.pdf |