The close of escrow will set in motion myriad events on Mare Island, turning the key on what is expected to be the key economic engine for the foreseeable future for the City of Vallejo. Those events include the transfer of almost 650 acres of property to Lennar Mare Island, the master developer of the island and the start of the environmental clean-up of Mare Island, expected to take three to five years to complete.

Also, construction of infrastructure projects and buildings will begin concurrent with the environmental clean-up. And a massive amount of investment in Mare Island will take place including creation of some 8,000 jobs. Lennar Mare Island's project alone is worth $260 million and will include light industrial, historic district, research and development, heavy industrial, preservation of historical buildings and residential units.

Thanks to previous agreements, the Navy will pay for the environmental clean up of Mare Island and will remain responsible forever. Talks of the closure of Mare Island began in 1993 with Base Realignment and Closure hearings took place. Mare Island officially closed in 1996.