Alameda Journal: City finances will be in the black with Alameda Point completion, report says, December 19, 2013


Alameda Point will generate about $2 million more in revenue than will be needed to provide essential services such as police and firefighters when the area has been fully redeveloped 21 years from now, according to a financial analysis prepared for city officials.

The projection that city coffers will end up in the black when the former Alameda Naval Station reaches "build out" was welcomed by the City Council Tuesday, when it was briefed on the report.

"It's certainly cause for cheer," Mayor Marie Gilmore said. But Gilmore also cautioned against earmarking the money now, noting that the city already has expenses such as for pensions and deferred maintenance that must be funded.