Oakland Extending Coliseum Land Sale Ban; A’s Generate $1 Billion In Public Money At Howard Terminal
ONN – Oakland Extending Coliseum Land Sale Ban; A’s Generate $1 Billion In Public Money At Howard Terminal.
The City of Oakland has elected to extend the Coliseum Land Sale Ban for one primary reason: the Oakland Athletics stand to gain $1 billion in public subsidy from the tax increment financing infrastructure zone for the ballpark at Howard Terminal.
The Athletics have told the City of Oakland that public money is not needed. But the fact is a tax increment financing revenue zone at Howard Terminal will include the A’s privately owned ballpark and at a 4 percent growth rate over 40 years for a zone that’s $2 billion in base year assessed value, gaining over $1 billion and about $1.4 billion in total TIF revenue.
So the A’s could pay for 90 percent or all of its ballpark with just the TIF money; a scenario far different than what was promised: no public money. I am not opposed to public money being used here but the truth is The A’s are generating the public money.
The organization does not need The Coliseum for any reason other than this one: a chance to close out the NFL from Oakland. The existence of the Coliseum gives the A’s a constant threat to the new ballpark in the eyes of the baseball organization. That is the real reason for this dual land effort on the part of Major League Baseball organization. If they got it The A’s would have control of $4 billion in accrued land value.
Tying up Oakland from the chance to realize billions in new revenue from having both sports and a sports book at the Coliseum is just plain wrong for the City of Oakland and it’s people.
The City of Oakland has elected to extend the Coliseum Land Sale Ban for one primary reason: the Oakland Athletics stand to gain $1 billion in public subsidy from the tax increment financing infrastructure zone for the ballpark at Howard Terminal.
The Athletics have told the City of Oakland that public money is not needed. But the fact is a tax increment financing revenue zone at Howard Terminal will include the A’s privately owned ballpark and at a 4 percent growth rate over 40 years for a zone that’s $2 billion in base year assessed value, gaining over $1 billion and about $1.4 billion in total TIF revenue.
So the A’s could pay for 90 percent or all of its ballpark with just the TIF money; a scenario far different than what was promised: no public money. I am not opposed to public money being used here but I am opposed to the A’s being dishonest about their intentions.
To repeat: The organization does not need The Coliseum for any reason other than this one: a chance to close out the NFL from Oakland. The existence of the Coliseum gives the A’s a constant threat to the new ballpark in the eyes of the baseball organization. That is the real reason for this dual land effort on the part of Major League Baseball organization.
Tying up Oakland from the chance to realize billions in new revenue from having both sports and a sports book at the Coliseum is just plain wrong for the City of Oakland and it’s people.
Stay tuned.
Note from Oakland News Now Technical: this video-blog post shows the full and live operation of the latest updated version of an experimental Zennie62Media mobile media video-blogging system network that was launched June 2018. This is a major part of Zennie62Media’s new and innovative approach to the production of news 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-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 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.