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State bills Oakland for Henry J. Kaiser transfer
San Francisco Chronicle ^ | 5/9/12 | Phillip Matier, Andrew Ross, Chronicle Columnists

Posted on 05/09/2012 8:34:36 AM PDT by SmithL

Oakland's sleight-of-hand play to sell the obsolete Henry J. Kaiser Convention Center back to the city for a quick $29 million may have backfired - leaving the cash-poor town with an even bigger deficit to eliminate.

As you might recall, Mayor Jean Quan pushed through a deal to sell the old convention hall to the city's own Redevelopment Agency last summer - just before Sacramento eliminated such agencies and sucked their money into the state's ailing budget.

The goal was to help erase the city's $58 million deficit for the fiscal year beginning July 1. Oakland thought it had beaten the deadline, but now state Controller John Chiang has sent out a letter basically saying all such deals are void.

Even worse, Chiang says Oakland owes the state the $29 million.

City Council President Larry Reid called the take-back "potentially devastating."

And it's not just the budget that could be affected. The city's plan to spend $3.5 million in redevelopment money to sketch out a mega pro-sports complex where the Coliseum now stands may be pulled as well.

The city administrator's office did not return our repeated calls over two days seeking comment.

Guess the news really is bad.

(Excerpt) Read more at sfgate.com ...


TOPICS: Business/Economy; Government; US: California
KEYWORDS: oakland; quan; redevelopment

1 posted on 05/09/2012 8:34:39 AM PDT by SmithL
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To: SmithL

This Jean Quan is really setting herself up for a huge future in the Democrat party. I’m not being ironic either.


2 posted on 05/09/2012 8:37:46 AM PDT by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: SmithL

I am just absolutely heart broken at the troubles of those Socialists./s


3 posted on 05/09/2012 8:56:20 AM PDT by mongo141 (Revolution ver 2.0, just a matter of when, not a matter of if!)
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To: SmithL
They are hitting the Thatcher limit.
4 posted on 05/09/2012 9:20:51 AM PDT by Lonesome in Massachussets (Rush: If Ward Churchill had a daughter, she’d look like Elizabeth Warren.)
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