26-0905
Subject: Second Amendment To Coliseum Complex Sale Agreement From: Economic And Workforce Development Department And Finance Department Recommendation: Adopt An Ordinance (1) 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 7000 Coliseum Way, Oakland, California, To Allow The Simultaneous Sale Of The Arena Parcel For The Lump Sum Payment Of $50 Million 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; (2) Authorizing The City Administrator To Negotiate And Execute An Agreement Pursuant Which The Buyers Agree To Pay To The City 6% Of The Annual Gross Ticket Sales For Any Event At The Arena Parcel And The Stadium Parcel Less Applicable Taxes; (3) Amending Ordinance No. 13801 C.M.S. Conditioning The Sale To Require Development Of On-Site, Affordable Housing And Other Benefits To Solely The Sale Of The City’s Interest In The Stadium Parcel; (4) Authorizing The City Administrator To Facilitate Closing Prior To December 31, 2026 By Redirecting To 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 $16,438.36 Limited To The Period Between The Stadium Parcel Closing And December 31, 2026; And (5) Adopting California Environmental Quality Act Findings
What this record is
- Amount
- $16K
- Runs until
- no end date published in this record
- Type
- amendment
- Field
- Real estate
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council
- Requested by
- Economic & Workforce Development Department
- Introduced
- July 8, 2026
- On agenda
- July 21, 2026
- Passed
- July 21, 2026
- Enactment no.
- 13895 C.M.S.