Port of Corpus Christi Commissioners met Tuesday morning to approve the sale of the campus portion of the former Naval Station Ingleside.
In previous Port Commission meetings, Occidental Petroleum had committed to by the campus portion of the base for $7 million. On Tuesday, commissioners voted on and approved the sales agreement.
Port Chairman Mike Carrell said this will let Oxy continue development on the land, which is already underway, without any kind of interruptions.
"I mean, just getting all that property in private property hands is significant for all the communities around there," Carrell said. "That can assess lower taxes and it allows Occidental to continue development plans of the entire base, and not worry about a piece of the proposition being in someone else's hands."
From here, the company has a due diligence period along with 60 days to close on the property. Occidental now has nearly a thousand acres of the former naval base to develop as they wish.
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