After vote, the team demanded Oakland pay for infrastructure. ‘That’s not what I and other commissioners agreed to.’
Oakland residents must press the City Council to commission a complete fiscal analysis. Otherwise the council will give away an irreplaceable resource and risk not only current but future revenues.
Just how much are we talking about this time? The A’s want $855 million — yes, nearly $1 billion — from future tax revenues to build the streets, utilities and other infrastructure for their project. Normally, developers shoulder those costs. Fisher claims he needs public subsidies to build the A’s ballpark. Is that true, or would the city be inking a sweetheart deal? A financial analysis would help discern the answer.
Rather than accept the A’s theory that Howard Terminal’s potential to increase tax revenues is a sufficient “community benefit,” the city should assess the project’s risks and benefits to taxpayers. By commissioning a study, as any prudent investor would, the council is only being a responsible steward of public funds.
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