Snags continue to delay local #govt joint authorities sale of #Oakland Coliseum site to #AfricanAmerican investment group.
Super shady desperate deal to unload 122 acre parcel including 80,000 seat #stadium built in 1968 and approx 18,000 capacity indoor #arena was supposed to close before summertime, but now is delayed for another year.
Some city #government officials hoped to quickly balance budget during current fiscal crisis with $100+ million in sale proceeds, but have received only small $5m fraction of revenue as #AlamedaCounty officials have delayed signing off on their portion of complex property transaction.
Previously elected city politicos had split on applying proceeds of the flash fire sale to balance the city budget deficit, with some council members calling the now ousted Mayor's claim pushing property transfer was "fiscally irresponsible" .
https://www.sfchronicle.com/eastbay/article/oakland-delays-sale-coliseum-site-next-year-20267716.php