Oakland Extending Coliseum Land Sale Ban; A’s Get $1 Billion In Public Money At Howard Terminal - Video
Oakland Extending Coliseum Land Sale Ban; A’s Get $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 I am opposed to the A’s being dishonest about their intentions. 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. 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. 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.
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https://youtu.be/RCG0bolX2pY
Oakland Extending Coliseum Land Sale Ban; A’s Get $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 I am opposed to the A’s being dishonest about their intentions. 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. 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. 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.
via IFTTT
https://youtu.be/RCG0bolX2pY
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