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Alameda Point Long-term Lease Revenues Exceed Expenditures to Maintain the Base

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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