http://www.sfgate.com/"Mayor Gavin Newsom struck a deal Wednesday with the U.S. Navy to transfer Treasure Island to San Francisco for a $55 million guaranteed payment over several years. Additional considerations could make the package worth more than $105 million to the federal government.
The agreement paves the way for the city to undertake one of its most ambitious development projects - remaking the closed naval base on a man-made island in the middle of San Francisco Bay into a model of sustainable development."