April 23, 2021
Oakland is our home. Together, we've shared so many memories at the Coliseum, but the Coliseum is at the end of its useful life. We need a new, modern, fan and player friendly ballpark.
We have a bold vision for a waterfront ballpark at Howard Terminal, and we've spent the last three years in pursuit of this goal. This project means more than just a ballpark for us and for Oakland: public access to the waterfront, greenspace and parks, housing for Oaklanders, union jobs, and countless community benefits. We've held more than 200 meetings with the community as part of a first-of-its-kind race and equity driven community benefits process.
We are prepared to make even more significant investments in Oakland, for the residents and community. Today, we publicly released our financial offer to the City and Community and now we respectfully ask that the Oakland City Council take a vote on our project before summer recess.
Our Development Agreement Term Sheet provides that:
- 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.
Let's keep this project momentum moving forward. Please join us in urging the City Council to review and take action.
Oakland A's President