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Oakland Coliseum City planning gets go ahead from city council

A major step in the efforts to keep the Raiders in Oakland occurred Tuesday evening. The city council voted yes to the proposal by the Bay Investment Group to extend the planning period for the Coliseum City development project.

The planning period extension period was important because the project has gained two big investors in recent months which changes brings the $2 billion dollar project closer to a reality.

The previous proposal which had plans drawn up over the past year would have required public subsidy which was a big sticking point because there isn't a lot of public funds available for such an ambitious project and the taxpayers are hesitant to foot the bill.

http://www.silverandblackpride.com/...city-planning-gets-go-ahead-from-city-council
 

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Ian Rapoport @RapSheet

The #Raiders and the Coliseum Authority have reached an agreement for the team to remain in Oakland for the 2019 season at least and the sides are ironing out final nuances and details of the deal, sources say. It could be wrapped up and presented to the board as early as Friday.

The #Raiders agreement with the Coliseum Authority is for 2019, but it also includes a team option for 2020 if their Vegas stadium isn’t ready, sources say. The steps should be: Board meeting Friday or Tuesday. Then city council. Then final approval by the March league meetings.
 

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Oakland A’s have money, Alameda County willing to sell — it’s a deal for Coliseum

The Oakland A’s have come to a tentative agreement to buy Alameda County’s half ownership of the 155 acre Oakland-Alameda County Coliseum site.

The price: $85 million.

“It’s way to keep the A’s in the East Bay and at the same time finally get us out of the sports business,” said Supervisor Scott Haggerty, who also sits on the Coliseum Authority board.

The A’s are looking to keep Oracle Arena and turn the Coliseum into a chopped-down “roman ruin-like” multisports facility. There would also be parks, housing and a technology campus.

“So we could have a tech partner in this,” Kaval said.

The county will use the $85 million to pay off its portion of the outstanding bond debt on the Coliseum from the renovations needed to bring the Raiders back from Los Angeles in 1995. Soon, of course, they’re headed to Las Vegas.

Add in other expenses for operating the Coliseum and arena, and the county expects to save roughly $13 million a year, County Administrator Susan Muranishi said.

Oakland Mayor Libby Schaaf had hoped to buy out the county’s share and thus take full control of the site, giving the city leverage in future negotiations with the A’s on developing the site.

The city, however, never came up with a solid offer or the money to swing the deal, although Oakland could still fight it in court.
https://www.sfchronicle.com/bayarea...ave-money-Alameda-County-willing-13781800.php
 
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