3.14 22-0241 Subject: Request To Schedule A Workshop To The City Council / Public Meeting To Receive A Cost Benefit Analysis Of The Financial Obligations On The Proposed Building Of The New Baseball Stadium At Howard Terminal
From: Councilmember Gallo
Recommendation: Request To Schedule A Workshop To The City Council / Public Meeting To Receive A Cost Benefit Analysis Of The Financial Obligations On The Proposed Building Of The New Baseball Stadium At Howard Terminal. Public Financing: The City May Sell Up To $---------Millions Of Bonds Necessary To Finance The Stadium. Revenue To Pay The Debt On Those Bonds Needs To Be Included In The Benefit Analysis, Which Could Include:New Taxes On Businesses Rent Payments From The Baseball Team Owner Taxes On Tickets, Consessions And Merchandise. Private Financing: The Oakland A's Are Responsible For Any Cost Overruns. Naming Rights Belong To The Team. Lease: The Oakland A's Will Lease The Stadium For Thirty Years From The Port Of Oakland / Sports Commission, The Lease Amount Should Be Included In The Benefit Analysis. Building Oakland A's Baseball Park: Cost, What Amount Is The City Contributing / Paying Upfront, And What Will Need To Be Borrowed In Order To Complete The Project. What Federal And State Funds Will Be Spent To Upgrade The Area. What Funds Are The Oakland A's And The Mlb Contributing To The Project. How Many City Staff Fte's, Time And Resources Be Spent On The Project. What Resources Will Be Needed For Game Security Issues. What Transportation Upgrades Will Be Needed. What Are The Annual Maintenance Costs Once The Project In Completed; TBD