Oakland Coliseum City Reboot Plan Update June 6th 2015 #ColiseumReboot Full Post: http://ift.tt/1HV1gak
I’m going to start this latest presentation off with something that will set the tone for how I think Coliseum City should be approached from this point on: the East Side of the Oakland Coliseum City stadium must be retained and upgraded as part of a new stadium for the Oakland Raiders. The reason is simple: anything that calls for a totally new stadium is something a 40-year lease revenue bond can barely handle. In other words, the risk of bond default is too great to ignore. I’m not comfortable issuing a Raiders Stadium plan that has a razor-thin margin – one with a brand new stadium has just that.
Before I introduce the plan, let me explain even further: it’s not that a 40-year lease revenue bond of any kind can’t handle a new stadium, but given the revenue production over that period of time, and the balance between the cost of adding new land uses within the Oakland Coliseum boundaries, and the resulting revenue, it becomes increasingly difficult to do.
The Basic Plan For The Oakland Coliseum City Reboot
As a reminder, Oakland Raiders Owner Mark Davis invited me to submit a stadium plan while at the NFL Spring Meeting in San Francisco, and in witness by NFL Network Anchor and my long time friend Mike Silver.