City of Oroville in Negotiations With Cal-Bay for Natural Water Processing Facility at Company's Oroville Industrial Park Project
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 05/24/12 -- Cal-Bay International, Inc. (PINKSHEETS: CBYI) 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.
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Primarily a Residential & Commercial Real-Estate acquisition and development Holdings Company, Cal-Bay plans to continue the acquisition of distressed and undervalued residential and commercial real estate along with land acquisitions. The land and commercial properties being primarily for use by its own subsidiary companies for the production of "Clean Energy & Power Technologies and Energy Saving Solutions" creating a multi-level revenue center for the company and its Investors. More Information will be available on the company website currently operational and under ongoing development.
Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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Datum: 24.05.2012 - 12:30 Uhr
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News-ID 149787
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LAS VEGAS, NV
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Residential Real Estate
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"City of Oroville in Negotiations With Cal-Bay for Natural Water Processing Facility at Company's Oroville Industrial Park Project"
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