El Toro infrastructure costs

[Lenny Siegel <lsiegel@cpeo.org>]

Your free subscription is supported by today's sponsor:
-------------------------------------------------------------------
Save up to 67% on Omaha Steaks + Get 6 FREE Burgers and a 
FREE Cutlery Set + Cutting Board!
http://click.topica.com/caacpgjaVxieSa8wsBba/OmahaSteaks
-------------------------------------------------------------------

Infrastructure Costs for El Toro Site Are Estimated to Be $40 Million Higher

By Daniel Yi
Los Angeles Times
July 1, 2004

Irvine officials now estimate that the city will need an additional $40
million to build roads and utility lines for their planned Great Park
because of delays in the sale of the land, site of the former El Toro
Marine base. 

The extra cost will not jeopardize Irvine's efforts to turn the
4,700-acre former airfield into a mix of homes, recreational facilities,
offices and parkland, officials said.

But it could reduce the amount of money the federal government gets for
the land, real estate experts say. Because infrastructure costs will be
borne mostly by developers who buy the land, they likely will bid less
to offset the higher expenses, the experts say.

The move is necessary because the Navy announced earlier this year that
the land will be sold in phases rather than in one auction as previously
planned. This means the work will cost more because of rising material
costs and financing costs, city officials say.

...

for the entire article, see
http://www.latimes.com/news/local/orange/la-me-greatpark1jul01,1,4836193.story?coll=la-editions-orange


-- 


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org

Your free subscription is supported by today's sponsor:
-------------------------------------------------------------------
Get a Great Credit Card for You Today 
You can find a credit card to fit your credit needs.  
All types of credit cards -- 0% APRs, Rewards, & Bad Credit.
http://click.topica.com/caacpgdaVxieSa8wsBbf/411Web
-------------------------------------------------------------------

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CPEO: A DECADE OF SUCCESS.  Your generous support will ensure that our 
important work on military and environmental issues will continue.  
Please consider one of our donation options.  Thank you.
http://www.groundspring.org/donate/index.cfm?ID=2086-0|721-0