The City of Concord Local Reuse Authority (LRA) has successfully reached a financial agreement with the United States Navy (Navy) over the price and terms of payment for the approximately 2,422 acres of property to be redeveloped by the Reuse Project under an Economic Development Conveyance. The agreement, the Navy Term Sheet, is supported by the project’s Master Developer, Brookfield.
The LRA and Navy are considering their final approval of the Navy Term Sheet concurrently. The City Council, sitting as the LRA, will consider the Navy Term Sheet, revisions to the existing Brookfield Term Sheet, and amendments to the Exclusive Negotiating Agreement with Brookfield at their regular meeting on May 26, 2026.
Gaining approval of the Navy Term Sheet will allow the LRA and Master Developer Brookfield to start the drafting of the Specific Plan and other entitlement documents for the project.
The staff report and related documents are posted for public review here: https://www.concordreuseproject.org/DocumentCenter/View/2374/Term-Sheet-and-Negotiating-Agreement-Report
They are also available through the project’s website: www.concordreuseproject.org
Questions can be directed to Guy Bjerke, Director of Economic Development & Base Reuse, at 925-671-3076 or at guy.bjerke@cityofconcord.org
Questions for Brookfield can be directed to Emily Boyd at Emily.Boyd@brookfieldrp.com or (925) 314-4030. Brookfield also has a project website at concordbpproject.com.