Home sales at Alameda Point will ultimately generate billions of dollars of revenue, but SunCal is gearing up to ask the City of Alameda to provide a $700 million taxpayer-funded “bailout” of the project by issuing redevelopment bonds to pay for infrastructure.
Home Sales Revenue
# of Homes Avg. Sales Price Revenue
4,000 $500,000 $2 billion
6,000 $450,000 $2.7 billion
[...] taxpayer’s money as a business strategy. In Alameda, California, the company is seeking a roughly $700 million subsidy for a proposed development. Public subsidies are rarely granted without generating a little [...]