Oakland Coliseum City Mayor Quan’s Political Football

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Oakland Coliseum City Mayor Quan’s Political Football

The Oakland Coliseum City Project is being used as Mayor Jean Quan’s political football. Mayor Quan is pushing the fabrication of positive information about the project just to help her reelection efforts.

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The first example of this was her claim that the Prince Of Dubai or some similar mucky-muck was going to invest in the project. That news was quickly shown to be false but only after Quan got on the radio and blasted that idea out there.

The second time is the current news that Coliseum City will be able to pay for the current Raiders Bonds. That claim was first floated by Pam Drake, a Jean Quan friend and political operative, in a listsevr of the Wellstone Democratic Club. This blogger personally blasted Drake for issuing claims that had nothing to do with the truth.

Now Quan has her office working the mainstream media with the same garbage this week. The mainstream media is reporting that the bonds that the Oakland-Alameda County Coliseum Joint Powers Authority issued will be paid off from revenue from Coliseum City.

As stated in the previous post, that’s not possible. The reason it’s not possible, is, first, there’s no guarantee that the estimated gap financing from the project, which is around $670 million, will actually do that, and pay for the Oakland Coliseum City Project. Second, the Coliseum City project’s financing plan does not include a provision to pay off the existing Coliseum debt. Third, much of the Raiders Bond debt has been paid, with the City of Oakland, alone, contributing $160 million toward the retirement of the principal and interest of the debt since 1997.

Mayor Quan must stop using the Oakland Coliseum City project as her personal political football, and let the developers do the work of finishing it during its conceptual phase.

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