The Oakland Redevelopment Successor Agency/City Council held a special concurrent meeting on July 13, 2026, to consider and vote on a second amendment to the sale of the City of Oakland's 50% undivided interest in the Coliseum Complex. The meeting began at 10:37 AM and adjourned at 12:18 PM. Council President Kevin Jenkins presided initially, later relinquishing the chair to Councilmember Janani Ramachandran.
Three speakers addressed non-agenda items, including questions about health issues related to the Oakland A’s stadium proposal and the importance of retaining civic assets. The mayor and OAC representative Irving briefly thanked the council and reaffirmed their commitment.
Half of the Holy Holm Good morning, everybody. And welcome to the special city council meeting of Monday, July 13th. Before I call roll, I will give speaker card instructions. If you would like to fill out a speaker's card on any item, please fill out a speaker's card before the item is called for discussion, or two hours after the start of this meeting, whichever comes first. The speaker cards are on the table in front of me. If you were looking to turn an online speaker card, they were due 24 hours before the start of this meeting. This meeting was called to order at ten thirty-seven. So you will have until twelve thirty-seven to submit your speaker card, or until when the item is called, whichever comes first. Council Member Guilla. Councilmember Houston. Sorry, Council Member Ramachandran. Council Member Unger. Council Member Wong. Showing seven members present, one excused. Last chance to turn into speaker cards before I call it if you haven't done so. Adopt an ordinance authorizing the city administrator to amend the purchase and sale agreement of the City of Oakland's undivided 50% interest in the Coliseum Complex located at 7,000 Coliseum Way, Oakland, California, to allow the simultaneous sale of the arena parcel for the lump sum payment of 50 million dollars and the stadium parcel for 60 million with seller financing from the city, crediting the 5 million deposit held by the city prior to the sale, authorizing the administrator to negotiate and execute an agreement pursuant which the buyers agree to pay to the city six percent of the annual gross ticket sales for any event at the arena parcel and the stadium parcel less applicable taxes. Affordable housing and other benefits to solely the sale of the city's interest in the stadium parcel. Authorizing the city administrator to facilitate closing prior to December 31st, 2026, and redirecting the buyer of the stadium parcel, a portion of the pro rata share of the city's annual subsidy of the stadium parcel based on a per day amount of sixteen thousand four hundred and thirty eight dollars and thirty-six cents. Limited to the period between the stadium parcel closing December 31st and adopting appropriate SQL findings. You have 21 speakers on this item. Thank you. Thank you. All right. So the administration is pleased to submit for council's consideration a term sheet between the City of Oakland and Oakland Acquisition Company for a second amendment to the sale of the city's 50% undivided interest in the Coliseum Complex. The proposal adds improved financial terms for the city and mitigates potential risk. It's been a long journey to this point, and I really want to thank the negotiating teams from our finance department and economic workforce and development department. I also really want to thank the mayor and the city council for their leadership through this amendment process. A few of the major highlights that we're pleased to share. One, the second amendment preserves the originally negotiated price for the Coliseum Complex, and that's $125 million in total. The improved deal structure protects the city's coffers and eliminates ongoing subsidies that have cost the general fund every year. And finally, the deal for the Coliseum parcel aligns the payment structure with redevelopment of the site. I know we all want to see community-centered redevelopment happen at this incredibly important parcel in East Oakland. And our team has worked to hone a proposal that we believe will help. So with that, I am going to ask our staff, Brendan Moriarty, to come and present. Thank you. Good morning, City Council, members of the public. My name is Brendan Moriari, I'm director of real estate and special projects within the Economic and Workforce Development Department. I'm speaking for staff on behalf of the negotiating team, which includes Bradley Johnson, our director of finance, Ashley Cannett, our Director of Economic and Workforce Development, Kelly Con, the Assistant Director for Economic Workforce Development, and Deborah Edgerly, former city administrator and a new in the city administrator's office. And then also Joanne Donick from the city attorney's office. She's on Zoom and available. Okay, we can go ahead with the presentation here. Um the Coliseum Complex, the subject of the transaction is the area in blue here. This is a hundred and twelve acre property that includes the Oakland Coliseum in the Oakland arena, as well as all the surface parking around it. It does not include a variety of city owned properties and one city county jointly owned property in the surrounding neighborhood. Those are those purple parcels, so not inclusive of that. But the dark shaded blue area, 112 acres. The arena parcel is about a nine-acre parcel that includes the arena, of course, and not much else. The uh stadium parcel, as we refer to it as everything else. So that's the 103 acres Oakland Coliseum plus parking areas. Um you can just see the two separate parcels here.