My Oakland Coliseum City Financial Plan Submitted To Raiders

My Oakland Coliseum City Financial Plan Submitted To Raiders Mark Davis, the Oakland Raiders Owner, invited me to submit a proposal while we were at the NFL Spring League Meeting of last week.  Here is that video: https://www.youtube.com/watch?v=j2ChvAhIi7Y Now, Mr. Davis' invitation opened a contractual door provided by the current exclusive negotiating agreement with New City Development LLC, where I could make a financial plan that the Raiders and the Oakland A's, and the City of Oakland and County of Alameda would want to implement.  To that end, and with meetings and talks with a number of people, and a lot of research, this, in a nutshell, is what I submitted to the Oakland Raiders Friday, with the detailed spreadsheet attached, and after adjustments made to the document I sent over on Thursday and on Friday: 1) Two new stadiums (no reboot or renovation) for Raiders and A's at $857 million for Raiders and $500 million for Oakland A's. Oakland Alameda County Coliseum Joint Powers Authority as the master developer. 2) Raiders stadium capacity at 60,000 3) 1,010 room high end hotel connecting the Raiders and A's stadiums, and with average room rate at $225 with 60 percent capture rate, and 200,000 sq-ft of retail between stadium and current Oracle Arena, where the Warriors play (for now). 4) 60 / 40 JPA / hotel developer revenue split over 40 year bond period.  5) 300 luxury boxes. Average luxury box cost at $135,000 6) 40-year Lease Revenue Bond Issue calling for NO Taxpayer Subsidies, as the core money comes from the following revenue streams: ticket surcharge, percentage of luxury box revenue, percentage of net hotel revenue, percentage of net retail revenue, personal seat license, portion of parking revenue, NFL G4 Loan Program, percentage of sponsorship, percentage of naming rights - nine sources, with the naming rights and sponsorship monies set deliberately low to show they don't drive the project, but can be used if a good deal is landed.  What I can tell you is this proposal has really served to get us - Oakland and Alameda County - on track.  The City of Oakland and the County of Alameda lacked a person to actually try different stadium fiscal scenarios for this project, so I volunteered my efforts. No one can say we don't have at least one plan, thanks to Mark Davis' overture to me.  The current ENA team is taking too long, and many are grumbling. We can get this done.  I just wish Mr. Davis would accept a plan I created that retains the 22,000 seat, Coliseum East Side, where the Al Davis torch is, but upgrades it, and builds a new stadium of 48,000 sears around it, and the entire complex 70,000 seats and Super Bowl-ready.   That can be done for $100 million less, and give us a nice bond surplus of around $200 million.  We can use part of that to retire the existing Raiders Bonds.  Right now, we have: - JPA is master developer and bond issuer, with developer partner at 5 percent for both A's and Raiders projects or a total of $79 million over the bond period.  City and County would be protected via contract and other safe-guards the bond underwriter can add, from losses. Hotel developer gets 40 percent of hotel revenue, but enjoys no property tax expense because of this. (Idea is to have some condos within the 1010-room hotel all to the good of landing Industrial Development Bond status) Basic plan as it stands today: Total Project Cost: $1.9 billion for Oakland Raiders and Oakland A's Stadium with 1,010 hotel room complex and 200,000 square feet of retail.  Total Bond Surplus: $131 million (40 year bond issue) Total New Tax Revenue: $141.4 million (40 year bond issue) Now, if Mr. Davis allows us to keep and upgrade the East Side (which was built in 1996 so it's not a really old place and is well-made and designed for his father Al Davis), and up the capacity to 70,000, the project cost falls to $1.6 billion and we can realize a bond surplus of $274 million in this scenario (not including debt reserve) and have a Super Bowl-ready stadium. Please contact the Raiders and advocate for this option. If you have questions, feel free to contact me or email me at Zennie@zennie62.com or 510-517-7565 (email is better) Spreadsheet of Reboot version: http://ift.tt/1RztH4X Spreadsheet of completely new Raiders stadium version: http://ift.tt/1JaeeXs

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