in 1965 utah acquired approximately 468 acres of prime residential lands at roseville near sacramento california a sales program was commenced in 1966 but sales were disappointing during the year an option for 142 single family lots was taken by a builder model homes were built and a new sales effort is in progress however the sacramento area has a surplus of new homes and sales may be slow for some time seven acres of land were sold from our small remaining acreage in the south shore at alameda california less than 14 acres of land now remain out of 313 acres in this project and virtually all this land is under option to a builder who has started construction on a total of 600 apart ment residences expansion of the company's shopping center at alameda was under taken during the year twin theatres and new stores were completed during the year and a new deluxe restaurant is under construction the rilling and development of approximately 893 acres of tidelands at bay farm island proceeded on schedule over 20 million cubic yards of material had been placed by utah's dredge franciscan by the close of the fiscal year and the fill will be completed as planned by december 1968 land should be available for sale to builders early in the fall of 1969 during the year utah entered into a joint venture for the acquisition of the fontana east apartments in san francisco fontana east consist ing of 126 luxury apartments is ideally located near ghirardelli square and has a panoramic view of the san francisco bay and the city a stock cooperative plan has been developed and sales are under way the fon tana apartments offer the last opportunity for apartment living virtually at water-side on the san francisco bay as restrictive zoning require ments passed since the fontana east was built preclude any further high rise construction on the waterfront utah has continued to participate in the development of retirement residences the most recent project is the tamalpais a 279-unit 12-story apartment complex located at the base of mt tamalpais in southern marin county california which will be completed in early 1969 at our vandenburg village development near lompoc california sales activity was encouraging for the second consecutive year the land divi sion also acquired 630 acres of undeveloped virgin forest land 82 miles east of los angeles near lake arrowhead the project now called moun tain park is in the preliminary planning stage at pauma valley near mt palomar in southern california our country club and residential development program continued to make progress during the year but the project has as yet not realized the level of profita utah's latesi retirement resid the base of mt tamalpais th