In what ways does a Public Sale of the Sale Parcels benefit the local communities and taxpayer?
The public sale process will benefit the local communities and taxpayers in a couple of very direct ways. First, the auction process will immediately return funds to the U.S. Government, thereby providing for federal funds to pay for the ongoing environmental remediation of other U.S. Navy installations. Further, the public sale process and subsequent land transfers put these portions of the Property into the hands of the private sector for redevelopment purposes, resulting in renewed economic development over time with cash flows from property tax revenues and jobs benefiting the local communities.
