Maybe they could find a soccer team to take their place. Or maybe they scrap the plan and replace it with a large residential neighborhood.
But as of right now they haven’t even been confirmed to be moving yet, at least officially
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Yes, everything is a toss up right now, but it seems like the site for the stadium/new development around it in Oakland has gained some traction, but I don’t know if that in particularly will matter to the A’s.
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Thanks for sharing! It’s good to know this is a critical week for the city and A’s to work out their agreement. The nearly third of a billion secured by Oakland is promising. That said, unless something else shocking comes up, I likely won’t Howard Terminal until the city council vote or if the A’s back down. Or new renderings. Bc we’re yimby and of course we’ll publish good renderings xD
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Bye bye Oakland
Hello Las Vegas
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^^^^
I see only paywall
here’s the gist:
A city or county creates an “infrastructure financing district,” known as an IFD. The IFD issues bonds to pay for everything from parks to streets to sewers to affordable housing. Those bonds are serviced with taxes collected from all the ancillary development surrounding the ballpark, such as housing or office space. Everybody is happy.
Except, it often doesn’t work.
They reference sports projects in three cities that fail, Atlanta Louisville and DC.
Meanwhile, in Oakland, the IFD is slated to generate about $517.5 million over the course of the 45-year bond, which would pay for streets, sewers, 18 acres of open space, as well as help subsidize about 1,000 units in affordable housing.
“I am not aware of one of these stadium districts that has worked,” said John Charles Bradbury, an economist at Georgia’s Kennesaw State University. “Every single one says they will pay for themselves — and I’ve never seen one that does.”
Brad Humphreys, a sports economist at West Virginia University, called IFDs “an increasingly popular mechanism for new sports facilities.” If the promised ancillary development actually happens, “they typically do OK in terms of financing,” he said.
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Paywall
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