Is Oakland's Coliseum land deal about to crumble?

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CITY NEWS

OAKLAND

—BOBBITT BETTER HAVE THEIR MONEY—There are strong signals that Oakland’s $105 million land deal with the African American Sports and Entertainment Group for the city’s half interest in the Coliseum is in doubt.

—Oakland Councilmembers Treva Reid and Janani Ramachandran pressed the city administration on whether the city received a $15 million payment due on Tuesday.

—Reid expressed grave concerns about the ramification of not receiving the payment. The land deal was framed as a short-term solution to close a $63 million budget shortfall from last June.

—Without the infusion of cash from the Coliseum land deal, the city faces debilitating cuts to public safety, staff, and services.

—Reid pointedly asked City Administrator Jestin Johnson if the city’s contingency plan was currently in effect. Johnson answered in the affirmative.

—“I appreciate you highlighting that the contingency plan has been triggered, which is an indication that we have not received any money,” Reid said.

—Ramachandran also expressed a belief that AASEG has not made its $15 million payment.

—Appearing unnerved by Reid’s assertion, Council President Nikki Fortunato Bas responded, “I understand from the mayor’s office that things are on track.”

—More information about the Coliseum land deal is expected to be agendize for the next Finance Committee, Bas said.

—Last month, the Alameda County Board of Supervisors and its county counsel expressed skepticism about AASEG and its desire to purchase the county’s half of the Coliseum property.

—County officials requested from AASEG a detailed financial plan for the Coliseum. Instead, AASEG provided a document that merely highlighted the group’s membership.

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