January 19, 2012 – Naval Station Roosevelt Roads, Puerto Rico: On 20 December 2011, the Department of the Navy signed an Economic Development Conveyance (EDC) Memorandum of Agreement (MOA) with the Commonwealth of Puerto Rico Local Redevelopment Authority (LRA) that details the conveyance of approximately 1,370 acres of the former Naval Station Roosevelt Roads (NSRR) for the Commonwealth's economic redevelopment in exchange for an anticipated consideration of $8.04 million. The parties expect to have an initial closing for approximately 1,000 acres and improvements, including utility systems on 26 January 2012. This conveyance will support job creation and economic redevelopment of the installation and the surrounding community.
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