2008 CPEO Brownfields List Archive

From: Lenny Siegel <lennysiegel@gmail.com>
Date: Mon, 5 May 2008 07:26:47 -0700 (PDT)
Reply: cpeo-brownfields
Subject: [CPEO-BIF] Vallejo, California school district sells surplus property
Developer, School District Ink 15-Acre Deal

Brian K. Miller
May 4, 2008

VALLEJO, CA-The Vallejo Unified School District is selling four surplus infill parcels totaling 14.7 acres in a deal that includes a piece of the buyer’s back-end profit. As part of the deal, the school district is carrying back $6 million of the $10 million purchase price in the form of a trust deed. EnviroFinance Group, formerly Continental Environmental Redevelopment Financial, provided $7.25 million in financing for the acquisition and repositioning of the properties.

The buyer is Brooks Street, a land development specialist that plans to add value to the site by re-entitling them for as much as 180 units housing units and some street-level retail space.


James Shuppert, a VP with the lender, a specialist in brownfield lending, tells GlobeSt.com that two of the properties are clean and two have underground contamination resulting from storage tanks once containing petroleum.


For the entire article, see


Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918

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