The new budget relies on Oakland completing a deal with the African-American Sports and Entertainment Group that will start to yield millions of dollars by September.
OAKLAND, CALIFORNIA – JULY 27: The Coliseum in Oakland, Calif., on Wednesday, July 27, 2022. OAKLAND — To patch up a financial crisis likened by some officials to the Great Recession, Oakland’s leaders on Tuesday approved budget changes that will avoid drastic cuts but also rely on the still-pending sale of the city’s most valuable real estate property.
Still, the new budget will freeze a total of 34 police officer positions and a host of other vacant jobs in the city, cuts that depend on sworn officers leaving or retiring. OAKLAND, CALIFORNIA – AUGUST 22: Oakland Councilmember Nikki Fortunato Bas speaks during a vigil near where Lili Xu, 60, was killed during an attempted robbery on Sunday, in Oakland, Calif., on Monday, Aug. 22, 2022.
In the meantime, Oakland’s leaders had been tasked with plugging a major deficit fueled largely by revenues falling way short of projections, including those from taxes on business licenses and real-estate transfers that became strained during the pandemic. Raising alarm bells over the unfinished Coliseum sale, Councilmember Janani Ramachandran went further, pushing to delay any formal budget decisions until the end of July so the council would have additional time to consider new outcomes.
Brad Johnson, Oakland’s lead budget analyst, warned that city officials will still need to “walk on eggshells” until the fall so they don’t overspend with revenue that might not arrive in time.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oakland City Council give initial approval for sale of ColiseumThe Oakland City Council unanimously voted Wednesday to authorize the sale of its share of the Oakland Coliseum to the locally owned African American Sports and Entertainment Group.
Read more »
Willie Mays draws tribute at Oakland Coliseum — site of his final hitOakland Coliseum paid homage Tuesday night to the late Willie Mays, who got the final hit of his historic career there to spark the New York Mets’ Game 2 comeback in the 1973 World Series aga…
Read more »
Amid City Hall turmoil, Oakland City Council faces crucial budget decision relying on Coliseum saleNearly a week after the FBI search of Oakland Mayor Sheng Thao's home threw City Hall into turmoil, the City Council faces a crucial decision on the mayor's budget proposal.
Read more »
Massive cuts likely to balance Oakland budget without Coliseum saleCuts may include 100 Oakland police jobs by freezing positions, closing four fire stations, and cuts to violence prevention programs.
Read more »
Oakland considers using profits from Coliseum sale to close budget deficitThe Oakland City Council on Friday began public discussions about how to surmount a $177 million budget deficit and whether to help bridge the gap by selling its share of the Oakland Coliseum.
Read more »
Final A's Game in Oakland May Be PackedWith each passing day we get closer to the final game at the Oakland Coliseum
Read more »