Financial-Issues

Excerpt:

As part of the process to attract the Lawrence Berkeley National Lab (LBNLLawrence Berkeley National Laboratory ) Second
Campus to Alameda Point, Alameda Reuse and Redevelopment Authority (ARRAAlameda Reuse and Redevelopment Authority. The City Council acts in this capacity.) staff
and ARRA's private development partner, Alameda Point Lab Partners (APLP), met
with staff from the Department of the Navy (Navy) in San Diego on Thursday, June 16
2011 , to request a no-cost conveyance of the proposed 45-acre LBNL site at Alameda
Point. Alameda Point consists of 918 acres of the former Naval Air Station Alameda
(NASNaval Air Station Alameda). The ARRA's request was made pursuant to the NAS Alameda

Excerpt:

The Office of Economic Adjustment (OEAOptional Entitlement Application), under the Department of Defense , awarded
the City of Alameda $225 000 in funds on September 22 , 2011 , to prepare a detailed
economic development strategy for Alameda Point (Strategy). OEA is the Department of
Defense s field organization responsible for supporting local governments with military
closures. The Strategy will result in a cohesive and targeted approach to leveraging the
Alameda Reuse and Redevelopment Authority s (ARRAAlameda Reuse and Redevelopment Authority. The City Council acts in this capacity.) existing commercial tenant

Presentation Outline
Disposition Issues under Evaluation
– Property
– Entitlement
– Transportation and Infrastructure
– Solicitation and Transaction
– Funding
Initial Findings

Excerpt:

A report from the nonprofit think tank Brookings Institution has labeled the Alameda Point neighborhood as one of the five poorest in the Bay Area. The report studied centralized income levels in places around the United States.

"The research study was started to track the concentration of poverty levels in the country over the last decade," said Elizabeth Kneebone, a senior research associate at Brookings.

Excerpt:

OAKLAND -- The Bay Area has fewer concentrations of extreme poverty than a decade ago, according to a report released Thursday.

That may not console the people living in the Bay Area's five poorest neighborhoods. In five census tracts, four of them in the East Bay, more than 40 percent of residents live below the poverty line, according to the Brookings Institution report.

The neighborhoods are in downtown Berkeley, uptown Oakland, Alameda Point and parts of West Oakland, and San Francisco's Hunters Point.

Excerpt:

Oct. 24 (Bloomberg) -- Lehman Brothers Holdings Inc. settled a dispute with developer SunCal Cos. over how to reorganize a group of bankrupt California housing projects.

SunCal agreed to support reorganization plans sponsored by the Lehman affiliate that helped finance about 20 developments in California, where the two companies had been partners until the investment firm filed for bankruptcy in 2008, according to court papers filed today. A SunCal affiliate will get an option to buy two of the projects for $57.5 million and be paid $3 million under the proposed settlement.

Excerpt:

After a long court battle, the estate of bankrupt investment bank Lehman Brothers Holdings Inc. has won control of a valuable land portfolio from the SunCal Cos., California's largest land developer.

The two companies, which have been warring over the land for three years, filed papers Sunday in a Santa Ana, Calif., bankruptcy court, outlining a compromise.

Excerpt:

On Monday, Lehman Brothers Holdings Inc. LEHMQ -3.23% and California land developer SunCal Cos. will face off in Orange County, with rival plans to bring about 20 stalled real-estate projects out of bankruptcy.

The failed investment bank and SunCal--once allies during the boom years of the California real-estate bubble but now bitter adversaries--have been sparring for more than three years in bankruptcy courts on both coasts over the fate of the projects.

Excerpt:

he agreement the Navy and the city of Alameda struck last month over the terms of the transfer of a 918-acre parcel at the former Naval Air Station Alameda was the direct result of the city’s decision to return to the base’s original reuse plan, one that emphasized job growth over housing.