The City of Concord, as the designated Local Reuse Authority, tracks the expenditures made to implement the Reuse Project and the sources of funds used to pay those costs.  The project began in 2006, and the finances are publicly reported on a regular basis in the Concord Reuse Project (CRP) Program Report.

 Concord Reuse Project Program Report

 The Concord Reuse Project Program Report provides both the current and historical expenditures made by the City of Concord (acting as the Local Reuse Authority) to perform tasks related the redevelopment of the former Concord Naval Weapons Station (CNWS).  As of June 30, 2024 – the Concord Reuse Project has spent, from all sources, $40,123,048 to implement the community vision for the Reuse Project. The latest Program Report can be found in the Document Library in the Program Report folder.

 Revenue Sources

 Historically, the revenue for the work of the Local Reuse Authority (LRA) has come from federal and state grants, former Redevelopment Agency funds, loans from the City to the LRA, and Master Developer reimbursements. Funds were used to pursue tasks implementing the community’s vision for the reuse of the former CNWS.

 Grants & Redevelopment

 Between 2006 and 2010, when the Reuse Plan was adopted by the LRA Board, the work of the LRA was paid for mainly through grants from the Department of Defense (DOD) Office of Local Defense Community Cooperation (OLDCC) and funds from the City’s former Redevelopment Agency (RDA). Those funding sources were also the primary financial support for LRA activities between 2010 and 2012 as the Reuse Plan was amended into the City’s General Plan becoming the Area Plan.

 City Loans

 Starting in 2013, the LRA’s focus shifted to coordinating the environmental work necessary to secure site‐wide resource permitting from state and federal regulatory agencies in order to facilitate future development of the base property consistent with the Area Plan. Development impacts related to endangered species, wetlands, and archeological and cultural resources needed to be evaluated and remediation associated with environmental cleanup from prior Defense Department operations required, and continues to require, review and coordination with the Navy to facilitate transfer of the property. The funding sources for these efforts continued to be a mix of regional and state grants, and loans from the City to the LRA.

 The loans from the City were necessary to fund LRA activities once the state‐wide dissolution of redevelopment agencies was implemented in 2012. The reserves from previous loans from the City were used to also fund the effort to restart the project and find a new Master Developer. In June 2023, the City loaned an additional $530,000 to the LRA. Bringing the total amount of City Loans to the LRA to $14,610,983. The LRA will repay the loans, with interest, from the sale or lease proceeds of the project as it develops.

See Interfund Loan Agreements in Program Reports folder in Document Library.

See Use of City Loans in Program Reports folder in Document Library.

Master Developer Deposits & Reimbursements

 The LRA has undertaken three processes seeking a Master Developer for the Reuse Project.  As part of those processes all potential Master Developers have provided deposits to pay for the costs of the LRA’s analysis and review of their proposals. Master Developers are also required to enter into an administrative Reimbursement Agreement to pay for the LRA’s costs of negotiating, drafting, reviewing and managing the consideration of all entitlements, permits and agreements associated with the project, including the negotiation of the Economic Development Conveyance Agreement with the U.S. Navy.

(July 31, 2024)