https://www.youtube.com/watch?v=1fRC_dPw_MA
Oakland News Now Presents:
Oakland CMs Thao, File, Bas Put EIFD For Affordable Housing, Small Biz Up For Study
. A vlog by the YouTube channel named in the video’s upper left corner and serves as the original blog post for this content.
This post opens with me, Zennie Abraham, saying thank you to Oakland Councilmember and President Sheng Thao of District Four, Carroll File of District Three, and Nikky Bas of District Two, for listening. After six years of vlogging and blogging on how EIFD law can redevelop Oakland’s economy so it works for the middle class and poor, someone finally listened. This study is a good start.
Oakland Councilmembers Sheng Thao, Carroll File, and Nikky Bas Put (Enhanced Infrastructure Financing District) For Affordable Housing, Small Biz Up For Study. And the proposed legislation comes to the Oakland City Council February 1st, 2022. This is what it reads as of this writing:
Recommendation: Approve A Report With Recommendation Directing The City Administrator To Study The Implementation Of A Citywide Enhanced Infrastructure Financing District Funding Affordable Housing And Infrastructure Improvements And To Return To The Council With Recommendations By The First Council Meeting In February 2022
For those complaining that Enhanced Infrastructure Financing District law is only applied to Howard Terminal, here’s a chance to really get involved in what should be considered a city-rebuilding project. The Council President must remember that a large number of Oaklanders have small businesses, like the black vendors at Lake Merritt.
Moreover, remote-work is so common that we have to change how we treat live work spaces – from dwelling to true, live/work areas. Some former Oakland Councilmember once said that people who have businesses must be rich: well, today, that’s the opposite. AB 464 was signed into law to help them: the Luka’s and Brown Sugar Kitchen owners, and single-person cleaning service business owners, and short order chefs. A final document should reflect what the law really allows.
Realistically, the City of Oakland’s looking at a city-wide EIFD base year assessed value of $30 billion and tax increment financing revenue of just north of $24 billion, assuming that $30 billion , a four-percent annual rate of growth in that base year, and a 45-year property tax revenue collection period, which is allowed by California EIFD law.
And assuming a bond debt with a two-to-one coverage ratio, that translates to approximately $12 billion for a bond issue. That can be used to form an incredible Pandemic Economic Rebuilding Plan for Oakland.
Stay tuned.
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Note from Zennie62Media and OaklandNewsNow.com : 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 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.