Excerpt:

City receives ownership of long-neglected Navy property

Alameda officials are praising a new land exchange agreement they made with the state of California on Friday, Oct. 19 that will place the Alameda Point waterfront area into a public trust.

The California State Lands Commission, which protects, restores, enhances, and preserves resources on state lands, approved the agreement with the city.

City officials are more than pleased with the agreement. The agreement marks "a momentous step toward the future development of Alameda Point," stated Deputy City Manager Alex Nguyen in a memo.