OAKLAND (KTVU) -- Fans of the Oakland Raiders who want to see their football team stay in Oakland plan to show up at both the Alameda County Board of Supervisors and the Oakland City Council meetings Tuesday, where lawmakers are expected to vote on whether to move forward with a new proposal to build a $1.3 billion stadium at the current coliseum site.
The so-called term sheet provides an outline of the plan, but many details remain unresolved. If the term sheet is approved, the city and county would enter into a 12-month exclusive negotiating agreement with former NFL Hall of Famer Ronnie Lott's Oakland City Pro Football Group, LLC and Fortress Investment Group LLC.
>>>>>To see the term sheet: Click here
Lott's investment group has proposed paying all construction costs for a stadium that would seat about 55,000 people and take up to 3 years to build. The site would also include retail, a hotel and possible housing developments as part of the deal.
Under the proposed tentative terms, the city and county would provide a long term lease or sale of 130 acres surrounding the current stadium, valued at about $150 million. About 15 acres on the north side would be reserved for an Oakland A's ballpark, if the baseball team decides to privately finance a new facility. The project does not include Oracle Arena's ten acre space, as long as the Warriors remain there.
Supporters say a show of support by local officials could help convince the NFL owners to reject a plan by Raiders' owner Mark Davis to move the team to Las Vegas.
"I know a lot of Raider fans are going to come out and plan to attend so Raider nation is going to come out in force tomorrow," said Chris Dobbins, co-founder of Save Oakland Sports, a fan-based group trying to keep the Raiders, A's baseball team, and the Golden State Warriors basketball franchise in Oakland.
City officials have been concerned about risking public money. Bonds from a previous stadium renovation are still being paid off.
"The city's paying $10 million (and) the county's paying $10 million a year for the renovations done to the coliseum in '96, but you know if the Raiders leave, they'll still have to pay those bonds off," Dobbins said.
The city has indicated in the term sheet that it would invest about $200 million in infrastructure bonds. That money would not come from the general fund, but from tax revenue generated by the new coliseum project.
I understand the argument, well these are billionaire owners, millionaire players, why does the city have to put in a nickel in there? But again the city is reaping a lot of benefits of that," Dobbins said, "Every time there's a game, there's people coming from Sacramento, people coming from Fresno spending their money here in Oakland."
The Alameda County Board meets at 11 a.m. and the Oakland city council meets at 6:30 p.m. Tuesday.
The results of the vote could send a strong signal to the NFL owners who have a meeting scheduled Wednesday. The group is expected to vote in January on whether to permit the team to move to Nevada, and the relocation plan would need approval by 24 of the 32 owners.
By KTVU reporter Jana Katsuyama.