New Coliseum City frontman Floyd Kephart provided a wide-ranging interview to the SF Business Times (main article/additional quotes). After 2+ years of the project lacking real details and general cageyness from its spokespeople and supporters, Kephart’s honesty is a breath of fresh air. He minces no words about the difficulties Coliseum City faces, and sets the table for what needs to follow.
The article, written by Ron Leuty, lays out Kephart’s previous experience, much of it in the horse-racing business, some of which is in financial crisis management. The latter’s probably the best why to describe his current ordeal, with 90 80 days left in the ENA. Kephart admits that CC is by far the biggest project he’s ever worked on. Among the things he says needs to be done:
- Public benefit analysis
- Disposition and development agreement
- At least one signed team
- Master developer
I put together a more extensive list last week when the ENA extension was signed. The public benefit analysis, while not a requirement, is an excellent idea since it could help garner public support if conducted honestly. That could be crucial if CC ends up going to the ballot box in the future. The DDA is a potential showstopper, since it can take up to a year after a team and developer sign on to hammer it out, as it did for the 49ers and Santa Clara. The DDA isn’t anything like a apartment rental agreement or even a mortgage, it’s hundreds of pages of details about financing, ownership, rights, timelines, and legal responsibilities. Maybe if the Raiders or A’s sign on prior to the end of the 90 days another extension could be granted for the DDA, but it goes to show how far behind the 8-ball this project is.
The big takeaway is that Kephart is meeting with Wolff in early November (perhaps next week?), which will give Kephart a chance to sell Wolff on having a more competent team in place or tailoring the vision for the A’s. Kephart’s aim appears to be lower than what the City was selling for the last two years, as the goal of having one team in place, maybe two is not nearly the same as bold (or pointless) as saying Everyone can stay here, there’s plenty of land.
Wolff could easily dismiss the plans just as he had done over the summer, but with the finish line drawing near, Wolff may be more likely to listen. The reason? Process. Having an active CEQA/EIR process underway is worth millions of dollars and at least a year’s worth of effort, so if Wolff were to sign on or bring in a master developer that will work in concert with the A’s, they’d already be ahead of the game. It’s a risk for Oakland, though, since the Mark Davis could view this as a sign that the Raiders are about to be marginalized. Since Davis hasn’t signed on himself, there isn’t much room for him to complain. As Kephart notes:
“Nothing says what the Raiders want. Is it a life-sized statue of Al Davis at the entrance of the stadium and then they’ll stay? … Maybe the teams have asked the city that — I don’t know.”
Another big piece of news is the timeline.
Yet even if Kephart’s group assembles all the agreements and documentation needed to win over a master developer for Coliseum City, the soonest the A’s would play in a new ballpark would be 2018 and the Oakland Raiders would land a new stadium in 2019 ‘at the earliest,’ Kephart said.
‘We want to cooperate,’ Wolff said. ‘We want to see what happens in whatever timeframe, 90 days or longer. Then we’ll know better what we have to do.’
2019 for the Raiders is a long ways away. It’s unclear whether that would be acceptable for Davis. If someone’s promising a new stadium in LA earlier, he may be willing to take it if the terms are right, even if he’s the second team in LA. 2018 for the A’s pretty much falls in line with reset expectations coming out of the lengthy Coliseum lease negotiations. We all want it sooner, I know.
For now Kephart is saying the right things – the truth – that can help get everyone on the same page. There’s no doubt that the effort at this point is a Hail Mary. Then again, Kephart probably knows a thing or two about long shots. If his work can help get the A’s in a ballpark in Oakland, he’ll have done his job magnificently.