The Island: City Council commits cash for Alameda Point, February 2, 2011
Submitted by west on Wed, 02/02/2011 - 05:39
The City Council okayed a pair of agreements Tuesday night that will allow them to use future property tax revenues to fund affordable housing and roads, storm drains, parks and other infrastructure improvements at Alameda Point and other redevelopment areas on the Island. The vote was 4-0, with City Councilwoman Beverly Johnson being absent.
The agreements commit $235 million for infrastructure and affordable housing at Alameda Point and $91 million for those items in other areas of town. Former Alameda Point developer SunCal had sought $212 million in public funds to redevelop that property.
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