[CPEO-MEF] REUSE: Fort Ord Authority seeks bonds to pay for demolition

[Lenny Siegel <lsiegel@cpeo.org>]

FORA blight removal bond proposal raises county concerns

By JIM JOHNSON 
Monterey Herald (CA)
October 11, 2019

SALINAS - A “rushed” Fort Ord Reuse Authority bond proposal aimed at paying for blight removal on the former military base even as the authority is poised to dissolve next summer has prompted Monterey County officials to express concerns about the potential impact on the county.

On Tuesday, the Board of Supervisors agreed to hire a financial consultant to consider the implications for the county of such a bond, as well as potential options for the county to issue its own blight removal bond or pursue blight removal through some other means. The board agreed to pay consultant firm Fieldman Rolapp & Associates $25,000 for the work while holding off on hiring a bond consultant to analyze the proposed FORA bond until authority officials provide all relevant bond documents.

According to a county staff report, FORA is considering issuing a 30-year bond for up to $56 million to cover the estimated $55 million cost of removing blight, including old military barracks and other buildings that remain a quarter century after the base closure, mostly located in the Seaside and Marina portions of the former base, with a much smaller amount estimated at about $2.2 million in the county’s jurisdiction.

…

For the entire article, see
https://www.montereyherald.com/2019/10/09/fora-blight-removal-bond-proposal-raises-county-concerns/

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
A project of the Pacific Studies Center
LSiegel@cpeo.org
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650-961-8918
http://www.cpeo.org





_______________________________________________
Military mailing list
Military@lists.cpeo.org
http://lists.cpeo.org/listinfo.cgi/military-cpeo.org