OAKLAND, Calif. (KRON) – The Oakland A’s have put forth their proposal for a new waterside stadium at Howard Terminal.
The new project promises public access to the waterfront, greenspace and parks, housing for Oaklanders and union jobs outside of just building the ball park.
Their development agreement includes:
- The Oakland Athletics will privately finance a $1B+, architecturally significant and state of the art ballpark on Oakland’s waterfront at Howard Terminal.
- The Oakland Athletics will fully fund all on-site project costs through private financing and project-generated revenues, including public parks, protection against sea level rise, and environmental remediation.
- The Oakland Athletics will commit to using unionized labor in the construction of the Ballpark Project and the operation of the ballpark.
- The Oakland Athletics will earmark $450M of project-generated revenue to be used for community benefits, such as affordable housing. The City of Oakland and the community will direct how those funds are spent.
- The Ballpark Project will be the most environmentally sustainable project of its kind in California history, and will meet the environmental mandates of AB 734, which include local greenhouse gas reduction measures.
- At full build out, the Ballpark Project will bring approximately $955M to the City of Oakland’s General Fund.
Justin Berton, spokesperson for Mayor Libby Schaaf, expressed caution for the project, saying a deal that benefits the city, as well as the team, is imperative.
Read the statement in full below:
“The City of Oakland is in receipt of the A’s proposal submitted today and will evaluate it closely,” Berton said. “Our goals for the project are unchanged: We want to keep the A’s in Oakland – forever. We need a deal that’s good not just for the A’s, but for the City, one that provides specific, tangible and equitable benefits to our residents, and doesn’t leave Oakland’s taxpayers on the hook. The City is willing to bring to bear its resources to help make this vision a reality; however, today’s proposal from the A’s appears to request public investment at the high end for projects of this type nationwide. We remain fully committed to working collaboratively with the A’s, our City Council, and our community partners, to formulate a public-private partnership and project of which we can all be proud, and to bring forth a consensus plan to our City Council this year.”