A’s, Auckland is running out of time to strike a binding deal in 2022

The clock is ticking for the city of Oakland and athletics to come up with a deal to move forward with the development of a $12 billion waterfront football stadium by the end of the year.

In order for Auckland City Council to hold a binding vote on the Howard Terminal A project this year, negotiations between the two sides must conclude next week, according to City Manager Ed Reskin.

“If our goal is to have something for the council to consider in this calendar year, the timeline is very tight to do so,” Reiskin said during a Tuesday meeting of the Auckland City Council.

If negotiations are completed next week, the city’s planning committee can consider the project in October and the Community and Economic Council can review the project’s independent financial analysis in November, leading to a possible vote by the city council in late November or early December. Reiskin said.

Despite the tight schedule, Reiskin said the council is working to get a good deal for the city and its residents. But with so many outstanding issues, councilman Dan Caleb said officials are behind the eight ball.

“The community and the masses…should be concerned because all of this had to be done by now,” Caleb said of the remaining work to be done to secure a binding vote. “If you really want this to happen, you better talk to the specialists and get them to start making sure they are willing to give us a good deal.”

Additional funding sought

Oakland officials also issued a memo on Tuesday saying they are in the process of obtaining more than $321 million in grants needed to fund off-site infrastructure for the planned Howard Terminal project.

The memo also noted that rising costs had pushed the city to struggle to secure an additional $183 million through a grant from the US Department of Transportation. The memo indicated that the city was not confident that any portion of the USDOT grant would be awarded.

The city is also exploring the possibility of issuing limited commitment bonds to raise additional funds for project-related needs. The memo indicated that these bonds will be backed by additional tax revenues resulting from the project itself and will be used in the event of irregularities in the project.

This danger alarmed Councilman Carol Fife, who opposed the project, about the extent to which these abuses might go.

“We have no idea in dollars and cents what that risk would be,” Fife said.

Howard Terminal’s plans include a privately funded $12 billion mixed-use development on 56 acres of land, centered around a $1 billion waterfront soccer field. Aside from the stadium, plans call for 18 acres of public parks, open space, housing, hotels, and an amphitheater.

A’s will be responsible for costs associated with building the stadium and surrounding development, while the city will be responsible for the work required off-site.

Major League Baseball officials have noted the need to reach an agreement by the end of the year for the project to bear fruit in the near future. This is mainly related to the fact that Mayor Libby Schaaf is barred from serving after this year due to term limits, as well as the possibility of other changes to the city council’s composition next year.

Team A head Dave Caval or MLB Commissioner Rob Manfred could not be reached for comment.

It remains to be seen if all the issues can be resolved by the end of next week.

“Our negotiators are still working hard to try and reach a final agreement,” Riskin said. “But it’s complicated.”

vegas update

As the saga unfolds in Oakland, Team A continues to search for locations for a potential football stadium in Las Vegas.

Sources indicated Thursday that both the Tropicana and Las Vegas Festival Grounds are still in operation for A’s potential home in Las Vegas, and negotiations on both are underway.

team officials He met at least twice last month With casino mogul Phil Ruffin regarding the possibility of a billion dollar football stadium on the land where the Las Vegas Festival grounds are currently located.

Clark County Commissioner Tick Segerblum, whose district includes festival grounds, said talks between A’s and Ruffin are real.

It’s a very high standard,” Sigerblom said. “I know there is a lot of interest and it seems to be achievable on the festival grounds.”

The site re-emerged as a “black horse competitor” last month after A showed an interest in the site last year. The 38 acres are located on the northeast corner of the intersection of Las Vegas Boulevard and Sahara Boulevard and provide access to Interstate 15, the Strip, the North Strip resorts and downtown. The site is also located in the planned path of Boring Co.’s Las Vegas Loop.

Segerblom said he was kept informed of the situation by Ruffin, but indicated that he is not closely involved in the discussions. With the access the site provides, Sergerblom said it makes the site an ideal location for A-list individuals should they relocate to Las Vegas.

“Honestly it would be a great site,” Segerblom said. “It’s a great piece of ownership. The stadium isn’t that big, so it would definitely fit in there.”

Tropicana, owned by Bally’s Corp., was among the favorites as a potential MLB stadium location for the better part of last year. The site is accessible from Tropicana Street, with access to I-15 less than a mile away. Also located near Harry Reid International Airport, the property is included in the Boring Ring Trail and near the T-Mobile Arena and Allegiant Stadium.

in last month earnings call, Bally CEO, Lee Fenton, said that the company has been in a wait-and-see mode regarding the future of the property, noting that it has been announced that the company intends to develop the site in the future.

“We will run the property in its current state for at least the next 12 months until we define the plan and the partnerships we want going forward,” Fenton said last month.

Contact Mick Akers at [email protected] or 702-387-2920. Follow mickakers on Twitter.

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