“Mayor Gavin Newsom, House Speaker Nancy Pelosi, and U.S. Secretary of the Navy Ray Mabus [have] signed the terms for the conveyance of former Naval Station Treasure Island from the Navy to the City. The terms of the agreement include a guaranteed payment to the Navy of $55 million followed by an interim payment of another $50 million, plus an additional share of potential further profits.”
∙ Terms Of Naval Station Treasure Island Transfer Agreement [sfmayor.org]
∙ Speak Now Or Write Later: Treasure/Yerba Buena Island EIR Hearing [SocketSite]
∙ The (SOM) Master Plan For San Francisco’s Treasure Island [SocketSite]
Thanks for adding a link to the “legit” news story – honestly much appreciated. 😉
If there’s anything the Navy needs, it’s money.