Prime Land for Sale by Port of Sacramento

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(Sacramento, CA)
Tuesday, February 15, 2005
The land, which totals nearly sixty five acres south of the port channel on each side of Lake Washington Boulevard, is seen as prime for residential development. The port hopes to close a cash deal on the land by May second, to stave off a cash flow problem caused by its continuing deficit. Without a cash infusion from land sales, the financially strapped port – beset by shrinking cargo volumes and stiff price competition from the Port of Stockton – could be forced to close by May of next year. For now, midyear budget projections show the port will fall one point two million dollars below budget revenue by its fiscal year-end on June thirtieth. For the Business Journal, this is Mark Larson