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

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Real estate

real estate contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

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.

Where it was heard

* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council Jul 21, 2026 Approved for Final Passage Pass Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council Jul 13, 2026 Approved as Amended on Introduction for Final Passage Pass *Rules & Legislation Committee Jul 9, 2026 Scheduled

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