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CBYI just released ground breaking news this morning!
City of Oroville in Negotiations With Cal-Bay for Natural Water Processing Facility at Company's Oroville Industrial Park Project
05/24/12 - Cal-Bay International, Inc. today announced the company is in negotiations with the City of Oroville, California's largest natural water distributor for the development of a Natural Water Processing & Bottling Facility on the company's 200 acre "Enterprise Zone" facility in the City of Oroville, California.
The City of Oroville, already provides over 50% of California's natural water and the negotiations are for the development of a multiple acre water distribution processing facility on the Cal-Bay JV 200 acre development in the "California Enterprise Zone." The successful agreement of the project would significantly enhance Oroville's natural water supply production throughout California.
Cal-Bay's JV development of the 200 acre site is primarily designed to build-out long term lease facilities for "All Green" and Alternative Energy Fuel companies along with Natural resources enterprises. Ensuring the company qualifies for the maximum City, State and Federal credits along with the "Enterprise Zone" opportunities to attract established qualified producers and manufacturers within the required sectors.
Cal-Bay acquired a 50% ownership as a joint venture agreement of the land development with First Capital Real Estate Investors. The acquisition includes the formation of a Cal-Bay Subsidiary LLC equally jointly owned by Cal-Bay and First Capital Real Estate and will be titled "Cal-Bay First Capital LLC." The property is being re-titled in the newly formed LLC's name. Property deeds will be transferred to the newly formed LLC. All revenues from companies acquiring properties in the Park will be designated to the Joint Venture LLC equally controlled by Cal-Bay and First Capital.
Oroville Industrial Park is a fully entitled land development project, which at current market value is valued at approximately $17.4M, when fully developed over the next 3 years the entire Park is expected to be valued in excess of $200M.
Read the full report here.
This obviously could lead to big revenues for CBYI!
Oroville industrial park is expected to be valued at OVER 200M dollars when developed over the next 3 years.
MP
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