Riverbank has approved a $3 million budget for the former ammunition plant, which it took over from the Army on April 1. The City Council, sitting as the Local Redevelopment Authority, approved the budget Monday.
The city envisions turning the facility at Claus and Claribel roads into a job-rich industrial park.
The budget is for 15 months and will take the city to July 1, 2011, the start of the city's 2011-12 fiscal year.
The city projects expenses of $2.35 million, placing $625,000 in reserve and ending with a balance of nearly $70,000.