Oakland News Now Blog Instant News Commentary - Register And Join The Discussion, Or Send A Video Comment

Oakland City Attorney Wrong On Responsibility At Howard Terminal – Need Public Financing Authority

Oakland City Attorney Wrong On Responsibility At Howard Terminal – Need Public Financing Authority

https://www.youtube.com/watch?v=H4-tnYlg1LA

Oakland News Now – video made by the YouTube channel with the logo in the video’s upper left hand corner. OaklandNewsNow.com is the original blog post for this type of video-blog content.

Oakland City Attorney Is Wrong Who’s Responsible For What At Howard Terminal – Public Financing Authority Is Not Formed

During the Oakland City Council Hearing on the Final EIR for Howard Terminal, (Which passed on a 5 to 2 vote with Councilmembers Fife and Gallo voting “no”.) Oakland Councilmember Noel Gallo asked a question about who is responsible for what in the planning process for the district.  The Oakland City Attorney said that was not really the question because that was just talk about planning related issues between the City and the Port of Oakland.

But The Oakland City Attorney was wrong.

The fact is, in order to legally establish an Enhanced Infrastructure Financing District, the City of Oakland must, by California law, form a resolution for it, then to create the Public Financing Authority, and do the Infrastructure Financing Plan. Once that’s done, the new Public Financing Authority Board becomes the organization responsible for the implementation of the Infrastructure Financing Plan.

The Infrastructure Financing Plan, in turn, contains the infrastructure plans, amount of tax increment used for each one, and timelines, and it includes what the law calls “projects of communitywide significance.”   In other words, Enhanced Infrastructure Financing District law allows the revenue from tax increment financing to be used outside Howard Terminal District.  The law has a giant wish list of possible projects from head start programs to affordable housing.  The Oakland A’s can’t pay for all of that, but the ballpark itself and the additional development, causes the TIF revenue that then pays for the wish list.  See?

So, the Public Financing Authority becomes an organization of responsibility in the Howard Terminal picture.  The problem is, the City of Oakland’s not doing this whole thing by the book, and risks putting bond money on the public hook.  Why?

Because using Enhanced Infrastructure Financing District law  means the Howard Terminal District, and not the City of Oakland, is liable for bonds issued.  But with no Enhanced Infrastructure Financing District, the City of Oakland would have to take on that risk.   That’s the place the Mayor of Oakland has the City in right now.

Stay tuned for updates to this space.

via IFTTT

Note from Oakland News Now Today Blog SF Bay Area, Zennie62 YouTube, and Zennie62Media: this Oakland News Now 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 YouTube channel. When the video is “liked” by Zennie62 YouTube, then it is automatically uploaded to and formatted automatically at the Oakland News Now site and Zennie62-created and owned social media pages. The overall objective here, on top of our 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 – is the use of the existing YouTube social graph on any subject in the World. Now, news is reported with a smartphone and also by promoting current content on YouTube: no heavy and expensive cameras or even a laptop are necessary, or having a camera crew to shoot what is already on YouTube. 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.

Click For Oakland News Now Home Main News Stream Section

• Register to join the discussion. Send an email request to [email protected]

• Have A Video Comment To Share? Make It Up To 1 Minute, Then Send It To Zennie62Media At [email protected]

Your video, if suitable, will be uploaded to Zennie62 YouTube for Broadcast over our channel. We will share 50 percent of the monthly adrevenue from it with you, if any is generated over $2.

Oakland News Now Blog - Recent Posts