Pelosi Statement on Redevelopment of Treasure Island

Pelosi Statement on Redevelopment of Treasure Island

Thursday, June 25, 2009

Contact: Brendan Daly/Nadeam Elshami/Drew Hammill, 202-226-7616

Washington, D.C. - Speaker Nancy Pelosi issued the following statement today announcing the inclusion of a provision in the Fiscal Year 2010 National Defense Authorization Act that will accelerate the redevelopment of Treasure Island, a former Naval base located in San Francisco Bay. This legislation passed the House of Representatives earlier today by a vote of 389 to 22.

â€Å"Naval Station Treasure Island was first identified for closure in 1993. Completion of the process to transfer this land from the Navy to the City and County of San Francisco will strengthen the local economy and is long overdue. Thanks to the magnificent leadership of House Armed Services Committee Chairman Ike Skelton of Missouri, language is included in this year's National Defense Authorization Act that will significantly accelerate the transfer process for Treasure Island and dozens of similarly situated former bases across the country.

â€Å"Once transfer of the land is complete, the City can quickly move forward with substantial redevelopment plans that include essential infrastructure, open space, affordable housing and extensive commercial activities, including retail, restaurants and entertainment. In total, more than $5 billion in public and private investments will create more than 2,500 permanent jobs, five times the number of civilian jobs that were lost with the closure of the base. Another 2,000 jobs will be created annually during construction.

â€Å"Realizing these economic benefits will provide a welcome boost to San Francisco's recovery, and to the entire region.”