Transformative is an adjective that gets tossed around a lot these days, but when it comes to the waterfront ballpark at Oakland’s Howard Terminal, it’s probably an understatement. The ballpark at Howard Terminal is a once-in-a-generation opportunity to honor Oakland and boost the entire region’s economy for decades.
It’s much more than a ballpark — it will transform an underutilized, functionally obsolete cargo terminal into a vibrant new neighborhood of 3,000 homes and nearly 2 million square feet of new office, retail, dining and performing arts spaces, with great union jobs and almost 20 acres of new public parks on the Oakland estuary. Anchored by an iconic new waterfront ballpark with views of the bay, San Francisco and beyond, this new district will be a must-see, must-visit destination right in the beating heart of our Bay Area region.
Right now, the A’s and City of Oakland are hard at work to make this ambitious dream a reality.
It’s clear, however, that a project of this size and scope cannot happen unless it receives support from all of our regional partners who stand to benefit from this historic project. That includes Alameda County and our Alameda County Board of Supervisors, who must vote to opt into the finance district that will fund key elements of the project, including critically needed affordable housing.
The board is tentatively scheduled to discuss the project Tuesday, but more than talk, the Board must take action and vote to move forward. There are important priorities the county is working on, and this project will actually help the county garner more taxes and more funds to continue that priority work. Please don’t let this opportunity pass by.
Supervisors have expressed a desire to “get out of the sports business,” and all of us must acknowledge the troubled financial history between local sports teams and local public agencies.
But this is not the Raiders deal. The Enhanced Infrastructure Finance District that the county is being asked to join would capture only property taxes that are generated by the project itself and wouldn’t put the county’s general fund or taxpayers at risk of losing a single dime. In fact, if the ballpark district was built today, even after contributing its net-new property taxes, the county would receive about $5 million per year from other new tax revenues — such as sales and transfer taxes — funds the county needs to support essential health care, homelessness and early childhood education services.
Taking a non-binding vote now to signal the county’s willingness to contribute just some of the generous tax revenues created by this new development has no downside for the county or its residents. Our independent economic impact report from the Bay Area Council Economic Institute found that the waterfront ballpark district will pump an estimated $7.3 billion into the regional economy over its first 10 years and create 6,100 permanent jobs.
County supervisors may wish to move on from painful past experiences, but spurning a once-in-a-lifetime project because of bitter (albeit unrelated) memories would saddle the residents of Alameda County, the City of Oakland and the entire Bay Area with an incalculable financial and psychological opportunity cost.
It takes extraordinary vision and leadership to advance a project of this scale. With a multi-billion-dollar commitment to build the ballpark and stay “rooted in Oakland,” the A’s have demonstrated both. The City of Oakland has committed more than $350 million in infrastructure investment to equitably, safely and sustainably move people and goods to and around the waterfront.
Now it’s time for our partners at the Alameda County Board of Supervisors to show their vision and leadership and vote on Tuesday to support a unique opportunity all Bay Area residents will enjoy for generations to come.
Jim Wunderman is president and CEO of the Bay Area Council.
