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The Alameda Chamber of Commerce will host community meetings Thursday to outline its opposition to the proposed ballot initiative to redevelop Alameda Point and to field questions from the public.

The chamber's board of directors voted against the initiative last month, saying it believes the initiative puts businesses and the city at financial risk because it would earmark property tax increments generated by the redevelopment project to go toward SunCal Companies and not to the city.

"We are not in favor of this ballot initiative," said Melody Marr, the chamber's chief executive officer. "But we are in favor of the economic redevelopment of Alameda Point."