On April 23, 2021, the Oakland A’s publicly released a Development Term Sheet for their proposed development at Howard Terminal that detailed their plan to rely on more than a billion dollars in Oakland taxpayer money to make their mega-development a reality. The sheer scale of the public subsidy the A’s are demanding dwarfs the public dollars used for any sports facility in California's recent history.
What the Term Sheet Includes:
- TWO Infrastructure Financing Districts that syphon increases in tax revenue away from the City's general fund to pay for the project.
- $495 million in public tax dollars to fund onsite infrastructure improvements.
- $360 million in public tax dollars to fund offsite infrastructure improvements.
- $450 million in public tax dollars to fund community benefits. Any community benefits not covered by this funding will have to be financed using other public sources.
On July 20th, the Oakland City Council took a non-binding vote to approve an alternative version of the Howard Terminal Term Sheet prepared by city staff.
We applaud the City Council for pushing back against threats and pressure from the Oakland A’s by approving a term sheet that recognizes the needs of the Oakland community. However, the current non-binding agreement still does not adequately protect the city, its residents, and its workers. The term sheet has insufficient protections for the Port of Oakland, leaves large funding gaps, leaves taxpayers on the hook for hundreds of millions in public subsidies, requires the A’s to provide only the bare minimum in affordable housing as mandated by law, and requirements zero private money from the A’s towards community benefits. It provides far greater public subsidies to a billionaire developer than other comparable projects in California.
Most critically, this waterfront stadium and luxury housing-retail project is still incompatible with the needs of our working port. Several members of the Council are in agreement that the existing Coliseum site remains a viable location for the A’s to build a new ballpark village, as it has ample transportation options, is already zoned for development, and would lift up the East Oakland community. We will continue to encourage a ‘no’ vote on any future agreement that refuses to take the needs of the entire Oakland community into account.