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October 09, 2009
Piracy on Treasure Island ~ Pelosi Land Grab
Piracy on Treasure Island
Politicians with ties to land developers are trying to force the Navy to hand over one of the most valuable pieces of property in the country for free. The House version of the 2010 Defense authorization bill scheduled for conference today contains language that would speed the transfer of Naval Station Treasure Island to the city of San Francisco at no cost.
Treasure Island is a 535-acre man-made island in San Francisco Bay owned by the U.S. Navy. The naval station was selected for closure in 1993, and Navy operations ended there in 1997. Some of the property was transferred to the Federal Highway Administration, the Labor Department and U.S. Coast Guard, and the rest is open for development.
However, problems have arisen over the terms of the transfer, specifically Treasure Island's fair-market value. One would expect it to be a highly valuable piece of property, given the island's size and location and the potential for waterfront lots with spectacular views of San Francisco. The Treasure Island Development Authority, the local redevelopment agency acting on behalf of the city, valued the land at $13.8 million, and the city offered the Navy a $40 million in-kind deal.
The Navy commissioned two independent estimates, by the firms Ernst & Young Global Ltd. and Duff & Phelps Corp., which returned a fair-market value of $250 million. These assessments were reviewed and verified by the General Services Administration.
Nevertheless, members of Congress have come back with their own offer: nothing. In 2008, legislation was introduced that would have compelled the Navy to convey Treasure Island to the local redevelopment authority at the cost offered by the city. This effort failed. The current attempt hinges on Section 2711 of H.R. 2647, the House version of the Defense authorization bill. This section would, among other things, eliminate considering fair-market value for property conveyed under the Defense Base Closure and Realignment authority in favor of a "no-cost economic development conveyance" - if it survives House-Senate negotiations.
~snipet~
House Speaker Nancy Pelosi, who represents San Francisco, hailed the legislation as paving the way for affordable housing and extensive commercial development on Treasure Island. Mrs. Pelosi claims development will create 2,500 long-term jobs and attract $5 billion in public and private investment.
A Pelosi spokesman stressed that she did not author the provision, but her involvement is unmistakable. Mrs. Pelosi was behind the 2008 provision that sought to force the Navy to hand over Treasure Island, and Mr. Farr is an important Pelosi ally.
"This is something the city has been trying to do for a very long time," said her spokesman Drew Hammill. "It could be a major job creator for the city."
But Treasure Island is not a case of a small town that has relied on a local military base for its livelihood for decades. It is a land grab by politicians for well-connected developers.
~ snipet ~
The potential for abuse of the process has come to the attention of the White House. President Obama has been subjected to an intense lobbying effort by members of the California delegation.
The Navy merits praise for holding the line in defense of a market-based transfer of Treasure Island. Cloaking this land grab under a measure to help local communities suffering the disruption of military base closure is disgraceful. Senate conferees would do well to reject this measure and force the Treasure Island pirates back out to sea.
Wild Thing's comment.......
PELOSI swindling AMERICA!! Yet Again!
This is very interesting and it goes along with this article. There is a ton of information here on Pelosi on this project. They definitely have an agenda and it’s not for the good of our country. Greed rules with them!
PAY-TO-PLAY BAY AREA
An abbreviated primer on how our political players operate
.... Thank you Jim for sending this to me.
Posted by Wild Thing at October 9, 2009 02:47 AM
Comments
"The Navy commissioned two independent estimates, by the firms Ernst & Young Global Ltd. and Duff & Phelps Corp., which returned a fair-market value of $250 million. These assessments were reviewed and verified by the General Services Administration."
That could help somewhat with buying more equipment and supplies for our troops but Pelosi and Co. are interested in lining their own pockets. Hopefully good riddance to her, Reid and a host of others in 2010.
Off subject but speaking of pirates. SOMALI pirates late yesterday attempted to storm the French navy’s 18,000-tonne Indian Ocean fleet flagship after mistaking it for a cargo vessel.
http://boudicabpi.boudica.us/?p=746
Posted by: Bob A at October 9, 2009 09:23 AM
And it is a bitch to get on and off Treasure Island from the Bay Bridge.
Posted by: Glenn M. Cassel AMH1(AW) USN Retired at October 9, 2009 09:34 AM
The Base Closuer Act was an open door for political graft. It was supposedly a part of the "peace dividend" that came from the fall of the Soviet Union. Brain dead politicians decided there would not be any more wars so they began closing bases to "save money". This started under Bush 41. Bases were closed and some turned over to developers who of course greased politician palms. The money "saved" was still spent elsewhere and the military downsized. Those closed bases cannot be replaced. If we ever have need for more large bases again the cost will be prohibitive. Stupid, crooked politicians!
Posted by: TomR at October 9, 2009 11:26 AM
She wants it for her own special playground. She wants a mansion for herself on it. If I were her kid, I would be hanging my head in shame. She is a nasty, vile piece of skin that I can't even call a woman.
Posted by: Lynn at October 9, 2009 11:38 AM
This isn't her first run, she was heavily involved in the Presidio sale, Murtha was her inside link.
Follow the money!!!
Posted by: Jack at October 9, 2009 01:57 PM
Why don't she consider Alcatraz, you can see it clearly from Treasure Island. The Rock would be a better place for her to be anyway.
Posted by: Mark at October 9, 2009 02:57 PM
Bob A., thank you, glad you posted about it.
Posted by: Wild Thing at October 9, 2009 07:35 PM
Glenn M.Cassel AMH1(AW)USN Retired, thanks
for the information about it.
Posted by: Wild Thing at October 9, 2009 07:38 PM
Tom, that is what I don't get at all.
Like you said...."If we ever have need for more large bases again the cost will be prohibitive."
We get rid of these places too easily and
then will never be able to get more.
Posted by: Wild Thing at October 9, 2009 07:40 PM
Lynn, I agree, I would hate to be a family
member of hers.
Posted by: Wild Thing at October 9, 2009 07:42 PM
Jack, yes exactly.
The link in the post tells a whole
history of that. I never knew that
before, or missed it somehow back
then.
Posted by: Wild Thing at October 9, 2009 07:44 PM
Mark, I love it.
LOL
"The Rock would be a better place for her to be anyway."
Posted by: Wild Thing at October 9, 2009 07:48 PM
