Excerpt:

The Office of Economic Adjustment (OEA), 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 (ARRA) existing commercial tenant
base and to attracting new commercial and institutional groups to the Alameda Point
property, resulting in increased jobs and lease revenues that will help finance future
predevelopment and implementation efforts at the property.

This evening the ARRA will consider approving an agreement with the United States
Navy for no-cost conveyance of Alameda Point. If the ARRA approves this agreement, it
is anticipated that a significant portion of Alameda Point will be conveyed by the end of
this year. Once the ARRA owns the property, the next logical step for the ARRA will be
disposing and developing the property for private development, including development
focused on attracting jobs. Job creation is one of the key community priorities for the
redevelopment of Alameda Point. The proposed Strategy will strengthen the ARRA's
efforts at successfully redeveloping the property for employment-generating uses.

The Lawrence Berkeley National Laboratory (LBNL) is expected to announce early this
year its preferred site for a Second Campus, which will consolidate existing LBNL
programs currently in leased space throughout the East Bay and provide an opportunity
for future LBNL expansion. Alameda Point is one of six sites being considered for the
project. The ARRA' s submittal of geotechnical and environmental studies for LBNL'
consideration and the substantial publicity surrounding the selection process will lay a
strong foundation for attracting a major user to Alameda Point, even if LBNL does not
select Alameda Point as its new home. If LBNL does select Alameda Point, it will be a
major catalyst for economic development of Alameda Point and will provide a new
starting point for the Strategy and , ultimately, for attracting even more jobs to the City.
The Strategy is expected to be completed by October 2012.