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Navy Takes a Dim View of SunCal’s Proposal for Alameda Point

In a letter from the U.S. Navy Base Realignment and Closure Program Management Office West in San Diego, the United States Navy takes a dim view of SunCal’s proposal for Alameda Point, and questions their financial capability to pull the project off.

In the letter, obtained by Action Alameda News under Freedom of Information Act (FOIA) and California Public Records Act laws, the Navy writes:

This proposal [SunCal’s] does not resolve the considerable concerns the Navy has regarding the financial stability of SunCal and its current involvement in at least 27 bankruptcies.

In addition, they note that in SunCal’s proposal “the proposed compensation to the Navy is reduced by nearly $50 million.” So, SunCal, in their recent mailer to Alameda homes, tried to claim credit for cleaning up contamination at Alameda Point, while at the same time trying to short-change the Navy – who is actually performing the heavy-lifting of Alameda Point clean-up operations – by $50 million. The letter goes on to request that “we ask the ARRA and SunCal to agree to provide the Navy with an up front payment at conveyance and a percentage of all futre gross land, residential and commercial building sales.” Clearly, the U.S. Navy wants to re-coup what will ultimately be close to $1 billion – or more – in expenses to clean-up the former Naval Air Station Alameda.

The letter further notes that at the time of selection as the Master Developer for Alameda Point, “representatives from SunCal reaffirmed their commitment to the $108.5 million purchase price and payment schedule.”

It seems that SunCal will say whatever they think they need to say – whether it be to the Navy, or to Alameda residents, to get their deal done.

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