Shakedown!-----'Billionaire looting the city': Locals turn ire toward Athletics as Oakland lays out terms for new ballpark

'Billionaire looting the city': Locals turn ire toward Athletics as Oakland lays out terms for new ballpark

"...$12 billion project proposed by the Oakland Athletics for a new ballpark on the city’s waterfront.

...MLB in April signaled its approval for the A’s to seek relocation options if the Howard Terminal project is not approved...

...And the council’s version of a term sheet included one significant concession to the club – absolving the A's of $352 million in infrastructure costs, which the council hoped it could generate by applying for federal and state development funds. 

But it asked the club to provide 35% affordable housing units among its planned development that actually dwarfs the ballpark itself in the scope of the deal.

The council’s term sheet said the A’s would set aside 15% of onsite housing as affordable, while also requiring the club to establish a displacement prevention strategies fund and provide anti-displacement tenant services in the four neighborhoods affected by the project.

...A Port employee identified as A. Wright said, “This is a billionaire looting the city. Put this on the ballot, and it would lose.”...Read all.