OAKLAND, Calif. (KRON) – The Alameda County Board of Supervisors voted in support of funding a new ballpark for the Oakland Athletics at Howard Terminal on Tuesday night.
The 4 to 1 vote backs the proposed ballpark to be built at the Oakland Port.
This resolution supports tax revenue to help pay for the waterfront ballpark.
Alameda County Board President Keith Carson was the only no vote.
This will now pave the way for the county to opt-in to a non-binding tax district that the city of Oakland plans to create for the team’s proposed $12-billion stadium.
The money would also pay for surrounding infrastructure, like housing and a park.
The tax district collects the city’s share of property taxes generated from the project for 45-years to cover construction costs.
No public funds would be used to build or operate the park.
The city and the team have acknowledged a commitment from the county would be necessary to push forward.
Oakland Mayor Libby Schaaf released the following statement:
“Tonight’s vote by the Alameda County Board of Supervisors is a historic action that creates a clear path to keep the A’s rooted in Oakland and build a world-class waterfront ballpark district that will benefit Bay Area residents for generations to come.
The vote supports a financial framework that will produce incredible community benefits, including 18 acres of new public parks along the waterfront, desperately needed affordable housing, and great union jobs – and all while protecting our taxpayers from the mistakes of the past and keeping our Port thriving and active. The City and County now stand to earn tens of millions of dollars in new revenues from an underutilized piece of land – revenues that would never exist without the development of the future waterfront ballpark district.
Today’s support from Alameda County makes it clear to Major League Baseball that our region is all in to keep the A’s rooted in Oakland. We look forward to continue working with the A’s, and to issuing a final Environmental Impact Report by the end of this year as well as negotiating a binding Development Agreement. We will return to City Council for a final vote as swiftly and prudently as possible.”Oakland Mayor Libby Schaaf
Overall, a city staff report shows the project would generate more than $16-million dollars annually in property, sales, and transfer tax revenues that would go back to the county — That’s much more than the $70,000 a year in tax revenues that they get now from the site.