The City of Oakland terminates its lease with a developer who wanted to build a marine terminal to ship coal from Utah

“In a major setback to a years-long effort to reinvent the former Oakland Army Base, the city has terminated its lease with developer Phil Tagami, effectively putting an end to his controversial plan to build a marine terminal and export coal, according to letters sent last month by city attorneys.

City officials in those letters said Tagami has failed to meet construction milestones agreed upon in the lease, and sent him a notice of default on October 23. The default notice said Tagami must pay the city $1.6 million in project liquidated damages as specified in the 66-year lease.”

Click here to read more from The Mercury News.

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