The Island: SUNCAL SAYS THEY’LL ADDRESS FISCAL CONCERNS

Excerpt:

Developer SunCal has said they will address fiscal concerns city officials have raised over the developer’s ballot initiative for developing Alameda Point.

In a letter to Interim City Manager Ann Marie Gallant, SunCal’s Pat Keliher promised legally binding agreements that would commit the developer to ensuring funding is available for public benefits beyond a $200 million cap set in the initiative and to consent to an increase in the area’s tax rate if more money is needed to build, operate and maintain the project.