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Oakland News Now Blog –
At Howard Terminal Community Meeting Carroll Fife Must Explain Tax Increment Financing Plan Status
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At Howard Terminal Community Meeting Carroll Fife Must Explain Status Of Tax Increment Financing Plan
Oakland District Three Councilmember Carroll Fife is holding a kind of town hall meeting on Howard Terminal at Taylor Memorial Church at 1188 12th Street. Here’s the text of her letter on the event:
On March 19th at 1pm PST, I will be hosting another townhall for District 3 residents on Howard Terminal, this time in-person. I will share the latest update on the current state of the project and want to create space to hear the community’s response.
RSVP through the registration link tinyurl.com/D3March19thTownhall.
The registration form also serves as a space to share your thoughts on the Howard Terminal project and whether you think it should be City Council or voters who vote yes or no on this project proceeding.
Location: Taylor Memorial Church, 1188 12th St, Oakland, CA 94607
Ask Oakland District Three Councilmember Carroll Fife the following:
1. What’s the status of the tax increment financing district for Howard Terminal?
2. Ask her if she knows how tax increment financing revenue is calculated?
3. Ask her if she has read SB 293 Skinner, the 2019 bill that is the governing law for Howard Terminal Financing?
4. Why has the legally required Public Financing Authority and Infrastructure Financing Plan not been formed in the case of the Authority or written in the case of the plan?
5. Is she aware that the base level of tax increment financing revenue of $1.6 billion (assuming $2 billion base year assessed value and four percent rate of growth per year for 45 years) is enough to use to float a bond issue of $800 million, with $350 million to the Oakland A’s Ballpark and the remaining $450 million to pay for the Community Benefits Plan (including affordable housing)? Note: Howard Terminal Spreadsheet is here.
6. Ask Councilmember Fife is she aware that Howard Terminal Ballpark is really a large scale events center capable of hosting many different events, and not just baseball games, and can be a community asset?
Hopefully Coucilmember Fife gives true and complete answers and also explains what she does not know.
Stay tuned.
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In my view, the City of Oakland is deliberately delaying Howard Terminal, so that it goes past the date of the end of Oakland Mayor Libby Schaaf’s term. In little ways, the City of Oakland is stalling, or it just really does not know what it is doing.
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