Oakland Panel Opts to Use Army Base for Port Operations
- January 25, 2012
The former Oakland Army Base would be used to expand the Port of Oakland, a plan expected to bring thousands of jobs and millions of dollars of tax revenue to the city, after the Economic Development Committee of the City Council approved the plan Tuesday.
The project would allow importers and exporters to load freight directly from ships onto trains, making the port more efficient, reported the San Francisco Chronicle.
The success of the plan, however, rests on the city and port obtaining the necessary financing to carry out the $800 million project. The parties had been counting on redevelopment funding to pay for much of the effort, but with the legislature having eliminated the state’s redevelopment agencies, that avenue won’t be available, according to the story.
The plan now hinges on the developer investing $300 million, a state transportation grant and a successful measure on the November ballot in Alameda County to raise the sales tax.
The Oakland City Council still needs to review the project, located near the foot of the San Francisco-Oakland Bay Bridge.