An Action Alameda News analysis of financial reports from the City of Alameda shows that total revenue for Alameda Point from 1999 to June 30, 2008, exceeds expenditures by over $20 million, proving false the claims by Measure B proponents that Alameda Point costs taxpayers year over year.
The exhaustive analysis was based on City of Alameda Comprehensive Annual Financial Reviews (CAFR) for the Fiscal Years 1999-2000 through 2007-2008. By all accounts, there was very little activity at Alameda Point from the official base closure in 1997 through to 1999.
A summary report, provided below, shows total revenue to the Alameda Reuse and Redevelopment Authority (ARRA) – the agency that manages the former navy base – amounted to over $100 million during that time period, while total expenditures amounted to less than $80 million.
Proponents of Measure B have been claiming that the base has cost Alameda taxpayers over $100 million, but have yet to provide no documentation to support this claim.
Alameda Point ARRA Leasing Revenue
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