LilMikeSF<p>Snags continue to delay local <a href="https://c.im/tags/govt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>govt</span></a> joint authorities sale of <a href="https://c.im/tags/Oakland" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Oakland</span></a> Coliseum site to <a href="https://c.im/tags/AfricanAmerican" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AfricanAmerican</span></a> investment group. </p><p>Super shady desperate deal to unload 122 acre parcel including 80,000 seat <a href="https://c.im/tags/stadium" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>stadium</span></a> built in 1968 and approx 18,000 capacity indoor <a href="https://c.im/tags/arena" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>arena</span></a> was supposed to close before summertime, but now is delayed for another year. </p><p>Some city <a href="https://c.im/tags/government" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>government</span></a> 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 <a href="https://c.im/tags/AlamedaCounty" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AlamedaCounty</span></a> officials have delayed signing off on their portion of complex property transaction. </p><p>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 admin pushing property transfer was "fiscally irresponsible" .</p><p><a href="https://www.sfchronicle.com/eastbay/article/oakland-delays-sale-coliseum-site-next-year-20267716.php" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">sfchronicle.com/eastbay/articl</span><span class="invisible">e/oakland-delays-sale-coliseum-site-next-year-20267716.php</span></a></p>