CFIUS and USAF investigate an investment firm’s purchases of land over the past 5 years.
The U.S. Air Force and the Committee on Foreign Investment in the United States (CFIUS) are investigating the purchase of land around Travis Air Force Base in Solano County, California. Investment firm Flannery Associates LLC has purchased nearly $1 billion in land near the base since 2018. The land is mostly zoned for agriculture, but the purchases are consistently close to Air Force grounds.
“They’re right at the fence line with Travis Air Force Base, on three sides of the fence,” said U.S. Representative John Garamendi, whose district includes the base.
CFIUS, an interagency group led by the Department of the Treasury, has taken notice of the purchases and will review all the details surrounding the acquisitions and their buyers.
“The question will become, if the investigation determines that the purchasers are a national security risk, does CFIUS have the authority to unwind and at what cost? So, that is an open question,” Congressman Garamendi said.
As the Lord Leads, Pray with Us…
- For Representative Garamendi as he collaborates on the review of the land sales in his district.
- For the members of CFIUS as the investigation of the land purchases is conducted.
- For U.S. officials as they seek to protect national security through evaluating foreign entities buying U.S. property.
Sources: CNN, Task and Purpose
