Land Swap Undervalues Property
City gets more value for its land
Part Two in a Series
Research this past week into the Tidelands property at Encinal Terminals revealed that the contract that sealed the "swap" 14 years ago involved not just the 6.34 acres that the Alameda Sun reported (AUSD, City’s New Land Swap Deal," March 6) but an adjacent 10.65-acre parcel. This means that the city is receiving 17.05 acres for $750,000.
This brings the price per acre from $117,739 with 6.34 acres involved to $43,988, taking the entire 17.05 acres into account — less than one-tenth of the $500,000 per acre that Tim Lewis Communities paid for the old Del Monte property next door.
Boats have tied up on the school district’s property the last 14 years. How much money has the district collected in fees from these boat owners?
Maps courtesy Google with illustration by Eric J. Kos Since last week’s publication, Alameda Sun staff discovered the 6.37 acres being discussed belong to one parcel under the Encinal Terminals pier and an ajacent parcel, also belonging to AUSD, contains a second 10.65 acres currently occupied by a marina. The "Area Depicted" map due to a production error showed the wrong location in last week’s print edition.