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Should the Federal Government Give Away Treasure Island?

Should Treasure Island Become a Gift to San Francisco?

  • No.

    Votes: 3 75.0%
  • Yes.

    Votes: 1 25.0%

  • Total voters
    4

Scarecrow Akhbar

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Ran across this:

HIstory of Treasure Island
Problems have arisen over the determination of Treasure Island's fair-market value. The city's redevelopment agency, The Treasure Island Development Authority, valued the land at $13.8 million, and the city offered the Navy $40 million for the property.[3] Two other estimates determined the fair market value at $250 million. However, in 2008 Congress offered the publicly held property to the city of San Francisco for nothing, under Section 2711 of HR 2647, drafted by Rep. Sam Farr [4].
I see no reason why the federal government should simply give away a quarter trilliong dollars, not when the federal government's budget deficit is, this year alone, six times that.

IMO the property should be parcelled out and sold peicmeal by auction to qualified investors to allow the federal government to realize the maximum return on it's investment.

The ties of the politicians trying to make the federal government to give TI away to land developers should be investigated with a colonoscope, by the Representatives of the 434 Congressmen and the 98 Senators whose constituents are looking at a quarter tirllion dollar loss on this deal.

There's no middle choice, because there's no gray area here.
 
Last edited:

rathi

Count Smackula
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The number is 250 million, not billion. Still a lot of money, but peanuts compared to the deficit. However, I agree that the land should not be given away to the city of San Francisco for free. Considering that that the location is prime real estate and developers are already interested, it should be quick and easy for the navy to sell it off at reasonable market value.
 
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