[CPEO-MEF] El Toro auction

[Lenny Siegel <lsiegel@cpeo.org>]

Slow Start to Auction of El Toro Land

No bids yet, but at least five parties are said to be mulling such
issues as whether to team up on buys. Navy hopes sale brings $525 million.

By Daniel Yi
Los Angeles Times
January 6, 2005

Marking another milestone in the saga of the El Toro Marine Corps Air
Station, the federal government Wednesday began offering the closed
Orange County base to developers.

But the first day of the much-anticipated online auction passed without
a single offer.

David Haase, a realty officer with the U.S. General Services
Administration, which is handling the sale, said potential buyers had
not yet registered to place bids.

The auction would set off the transformation of the former base into a
sprawling residential and business complex encircling a park, and
finally bury plans for turning the base into an international airport. 

"From a developer's perspective, this could a very complex undertaking,"
Haase said. "They've done all their research, and now they are putting
together their [bids] and it is a go or no-go situation?. We are not
anxious or pressuring them to do anything that they don't feel is in
their best interest."

...

For the entire article, see
http://www.latimes.com/news/local/orange/la-me-eltoro06jan06,1,3102260.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
_______________________________________________
Military mailing list
Military@list.cpeo.org
http://www.cpeo.org/mailman/listinfo/military