Howard Terminal Update: Why Is Alameda County Holding Today’s Board Of Supervisors Meeting?
– vlog by Zennie62 YouTube. OaklandNewsNow.com is the original blog post for this content.
Howard Terminal Update: Why Is Alameda County Holding Today’s Board Of Supervisors Meeting?
Ok. Why is Alameda County holding today’s Board Of Supervisors Meeting? Because the Mayor of Oakland believes she needs the County’s 17 percent of the property tax revenue Howard Terminal produces in order to make a tax increment financing district under what is called Enhanced Infrastructure Financing District law for the ballpark area there.
The truth is she does not need it in order to use tax increment financing – she just loses the 17 percent of the revenue. She can make that up mathematically. Try it yourself with my spreadsheet.
So if Oakland projects $1.6 billion in property tax revenue assuming a base year assessed value of $2 billion, and four percent rate of growth in assessed value annually, then one has to add 17 percent more in assessed value to make up for the County opting out.
The law allows for the district fiscal agent and not the City to be responsible for bond default.
And my question is why has Oakland not done its Infrastructure Financing Plan as called for by EIFD law?
Also when the City of Oakland makes and the Athletics make their presentation, if they do, look for an all-white consulting team. The total absence of black economic development consultants in this is galling. It’s not like there aren’t any.
They could have called Annejette Scott for community development and me for tax increment financing since I am the one who told A’s President Dave Kaval about the ability to use EIFDs in the first place. (And for those of you who forget, it’s common for people in media who have backgrounds in another field, to be hired for work in that field as per their comments as media people. If you need examples, look at the revolving door of NBA basketball coaches who become announcers, then go back to coaching, and then back to the broadcast booth. Names like Steve Kerr, Mark Jackson, and Kenny Smith. Smith’s a great example, as his work on NBA on TNT gives a constant presentation of his basketball coaching approach. There’s no reason that can’t be done in economic development.).
Stay tuned.
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Note from Zennie62Media’s Zennie62 YouTube and Oakland News Now Today Blog SF Bay Area: this video-blog post demonstrates the full and live operation of the latest updated version of an experimental Zennie62Media , Inc. mobile media video-blogging system network that was launched June 2018. This is a major part of Zennie62Media , Inc.’s new and innovative approach to the production of news media. What we call “The Third Wave of Media”. The uploaded video is from a vlogger with the Zennie62 on YouTube Partner Channel, then uploaded to and formatted automatically at the Oakland News Now site and Zennie62-created and owned social media pages. The overall objective is smartphone-enabled, real-time, on the scene reporting of news, interviews, observations, and happenings anywhere in the World and within seconds and not hours. Now, news is reported with a smartphone: no heavy and expensive cameras or even a laptop are necessary. The secondary objective is faster, and very inexpensive media content news production and distribution. We have found there is a disconnect between post length and time to product and revenue generated. With this, the problem is far less, though by no means solved. Zennie62Media is constantly working to improve the system network coding and seeks interested content and media technology partners.