Oakland

Egbert Perry, Ronnie Lott, Mayor Libby Schaaf, The Oakland Raiders NFL Coliseum Stadium Deal To Date

Published

8 years ago

September 21, 2016

Oakland Raiders Stadium News Update here.

Egbert Perry, the Fannie Mae Board Member and Chairman and CEO of The Integral Group, a real estate development organization based in Atlanta, Georgia, and his business associate Sorina Givelichian of Stadium Real Estate Partners LLC, may have learned a little something about trying to punk an NFL Hall of Famer: Ronnie Lott. Especially one that has an signed Memorandum of Understanding (MOU) with the City of Oakland and The County of Alameda to develop the Coliseum property and a stadium for the Oakland Raiders.Perhaps Mr. Perry’s association with Ms. Givelichian and with a wonderfully colorful set of hedge fund managers caused him to think he could pull a fast one, as one of my sources seems to believe.

For reasons that I’m not able to completely pin down at this time, a letter of intent sent directly to me via an Oakland Raiders fan, and that contains an offer to buy the Oakland Coliseum Stadium and the land (but not Oracle Arena), from a group that does not include Ronnie Lott (so reports that there are “ties” to Lott, or “led by Ronnie Lott” as if this move was done on his behalf, aren’t correct), but has the following: Stadium Real Estate Partners LLC, which, according to the letter, is owned and controlled by Legacy Investment Partners LLC, which is owned by New York-based Park South Capital LLC.

In turn, those entities are managed by Investment Banker Sorina Givelichian, who’s Linkedin has her listed as “Director, Institutional Solutions at Russell Investment Group” of Toronto, Canada. Ms. Givelichian looks for every bit like a cross between a Bond Girl and “Max”, the character played by Vanessa Redgrave in Tom Cruise’ Mission Impossible.

Moreover, Sorina Givelichian’s Twitter account @sgivelichian is protected, which means she doesn’t want you to see what she’s tweeting about. My guess is it has something to do with the newly hatched work she and Perry are doing in trying to acquire sports and entertainment-related properties. Like in Arizona.

The same Stadium Real Estate Partners LLC sent a similar letter of intent to the Maricopa County Stadium District over one month ago, August 11th. In that case, they offered $60 million for Chase Field Stadium. That letter contains an intent to “raise its offer to match appraised value” – something to note and which could apply to the Oakland Coliseum Land Offer by the same Stadium Real Estate Partners LLC.

The difference between the two Stadium Real Estate Partners LLC deal proposals is that the Oakland one is centered around a proposed price of $167,360,000 – and which they say is a price that can defease “the current bond obligation” of $165,360,000. That refers to the remaining payments that are split between the City of Oakland and the County of Alameda from the original “Raiders Deal” that altered the Oakland Coliseum to accommodate the needs of both the Silver and Black and the perennial tenants the Oakland Athletics, but was not made to a state-of-the-art stadium standard at that time.

(And explains the reason for a number of stadium maintenance and facility design adjustment needs that were noted on a so-called ‘punch list’ made in 1997 by Ezra Rapport, then Oakland’s Assistant City Manager, and the architect of the original “Raiders Deal”.)

Thus, two things are clear: the offering price by Stadium Real Estate Partners LLC was only given to help deal with the bond debt remaining, and was not based on an assumption of land value, however, it’s quite clear Stadium Real Estate Partners LLC is capable of offering more money to the City of Oakland and The County of Alameda.

But it’s also clear that Oakland Mayor Libby Schaaf is not ready to deal with Stadium Real Estate Partners LLC at this time (maybe later).

Mayor Schaaf called while I was writing this post to say the following:

“Its my understanding that Egbert Perry and Ronnie Lott both know each other and are friendly,” she said, “The only people that formally represent the Lott Group are Lott and Rodney Peete to my understanding.”

Schaaf continued “We aren’t considering it for recommendation at this time because we want an agreement with the NFL. I am committed to keeping the Raiders and The League at the center of the deal. We can’t give up our right to control the destiny of what happens to that land (at the Coliseum). A new stadium that keeps the Raiders in Oakland, but is responsible to the team, the league and the taxpayer – and enhances economic vitality around the Coliseum and delivers community benefits.”

NFL Executive Vice President for Business Affairs Eric Grubman visited Oakland and not just for the Raiders game against the visiting Atlanta Falcons. On Grubman’s visit, she said “I appreciated Eric joining me for meetings with business leaders, and supporting my effort to keep the Raiders in Oakland. Everyone has a part to play in maintaining this community asset.”

And while we were talking, I asked Mayor Schaaf about the news that Nevada Governor Brian Sandoval said he was going to call a special session of the Nevada Legislature to vote on the recommendations of the Southern Nevada Tourism and Infrastructure Committee, including the $750 million for developing an NFL-ready stadium for the University of Nevada Las Vegas. Libby said the following: “I take the Las Vegas threat very seriously. I remain convinced that Oakland is a stronger market for the NFL than Las Vegas will ever be. And in spite of the threat, I remain committed to my approach regarding public funds.”

So, in closing, while Stadium Real Estate Partners LLC’s proposal may not be right at this time, it’s a signal that there are players with a lot of money they control involved in the Coliseum City deal. Mr. Lott has not been ‘pushed out’ of this at all, and has his MOU as his dance card.

But the beauty of the MOU approach that Mayor Schaaf called for is that the City of Oakland and the County of Alameda can talk to and bring in well-healed investors capable of executing a privately-financed deal for a new stadium for the Oakland Raiders, all the while keeping Lott at the center of the action.

Not bad.

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Oakland Post: Week of December 18 – 24, 2024

The printed Weekly Edition of the Oakland Post: Week of December 18 – 24, 2024

Published

18 hours ago

December 20, 2024

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

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City of Oakland Celebrates Reopening of Main Library

“Libraries are such critical facilities for all Oaklanders, whether it’s children coming to story-time, adults reading the newspapers or borrowing the latest novels, and people engaging with a range of services and programs that the library hosts,” said Council President and District 2 Councilmember Nikki Fortunato Bas. “Such library services and programs are only possible when the facility’s electricity, heating, roof, and lighting are fixed and running efficiently. I’m proud to join this re-opening of our Main Public Library.”

Published

3 days ago

December 18, 2024

Oakland Post

Left to Right- Jamie Turbak, Director of Library Services, LaTonda Simmons, Assistant City Administrator, Nikki Bas, President Oakland City Council, Shen Thao, Mayor of Oakland, Carroll Fife, Oakland City Councilmember District 3, Harold Duffey, Assistant City Administrator, Sean Maher, Projects Coordinator. Photo by Kevin Hicks.

The branch had been closed since May for critical infrastructure upgrades

Special to the Post

The City of Oakland leadership and community partners gathered to celebrate the reopening of the Main Library after completion of critical infrastructure upgrades to enhance the library’s facilities and provide a better experience for patrons.

Renovations include new roof installation, skylight repair, critical electrical system upgrades, new boiler control system installation, auditorium heating and cooling system installation, and improvements to lighting, flooring and ceilings throughout the building.

“This is truly something to celebrate, the reopening of our wonderful Main Library! I congratulate the staff and our partners for this important project to make the Main Library a more comfortable place for everyone for years to come, said Oakland Mayor Sheng Thao. “Thank you to Oakland voters and the California State Library for making these crucial improvements possible.”

“Public libraries are a wonderful resource for our residents, offering a safe space for learning and being,” said District 3 Councilmember Carroll Fife. “It is critical to improve and modernize our libraries so more members of our community can utilize and enjoy them. I’m excited that the necessary renovations to the Main Library have been completed successfully and thank everyone involved, particularly the City team, who helped secured the necessary grant funds for this work.”

“I am proud of the City staff and project partners who kept this important project on schedule and under budget,” said Assistant City Administrator G. Harold Duffey. “The library is an incredibly important resource for our community members, and this project is an investment into the library’s future.”

“December 2nd was a momentous occasion for Oakland Public Library as we proudly reopened the doors of the Main Library following extensive infrastructure repairs,” said Director of Library Services Jamie Turbak. “Closing the Main Library for six months was no easy decision, as it serves as the central hub for our library system and is truly the heart of Oakland. Yet, this renovation was essential, representing more than just physical upgrades—it reflects our ongoing commitment to creating a safe, welcoming space for everyone.”

The City Administrator Jestin Johnson also attended the press conference and signalled his support for the completion of the record-setting completion of the renovations. Gay Plair Cobb, a newly appointed Library Commissioner said the Library represents the soul and brains of our community.

The Oakland Public Library secured funding for these crititcal repairs through a variety of sources. The California State Library’s Building Forward Library Facilities Improvement Program awarded the Main Branch $4.2 million. To comply with the grant terms, the City of Oakland provided matching funds through Measures KK, as approved by the Oakland City Council in October 2023.

The Main Library will host an Open House to celebrate the reopening on February 22, 2025, 10 a.m. – 5:00 p.m.

About the Oakland Public Library

The Oakland Public Library is a part of the City of Oakland in California and has been in existence since 1878. Locations include 16 neighborhood branches, a Main Library, a Second Start Adult Literacy Program, the Oakland Tool Lending Library, and the African American Museum and Library at Oakland (AAMLO). The Oakland Public Library empowers all people to explore, connect, and grow. Oaklandlibrary.org

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BWOPA Honors Black Leadership and Legacy at 2024 Ella Hill Hutch Awards Dinner

On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills. At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.

Published

3 days ago

December 18, 2024

Oakland Post

L-R: BWOPA State Executive Director LaNiece Jones; State Asm. Mia Bonta; BWOPA 2024 Man of The Year/Urban League SFBA CEO Ken Maxey; BWOPA State President Hon. Dezie Woods-Jones; State Senator Lola Smallwood-Cuevas; Rowena Brown, Oakland Councilmember At-Large, Elect; BWOPA State Regional Director Vashone Huff. Courtesy photo.

By Oakland Post Staff

Black Women Organized for Political Action (BWOPA) is a statewide non-profit advocacy and membership organization committed to solving problems affecting Black Californians.

On Dec. 5, BWOPA held its Annual Ella Hill Hutch Awards Ceremony, at the Fairmont Claremont Hotel in the Oakland/Berkeley Hills.

At the event, the group comprised of Black women from various professional backgrounds, honored distinguished local and state leaders whose contributions have shaped civic engagement and advanced critical social issues impacting Black communities.

The evening was hosted by Dr. Shawna Charles, founder of The Charles Communications Group (CCG) headquartered in Los Angeles. Charles served as mistress of ceremonies.

With a track record of elevating voices and empowering communities, Charles’ leadership and insight brought a certain dynamism to the celebration.

“Each year, this event not only celebrates the enduring legacy of our beloved BWOPA founding member, Ella Hill Hutch, but also reaffirms and amplifies our unwavering commitment to building and sustaining Black political power across California,” said Dezie Woods-Jones, BWOPA founding member and State president.

“Ella Hill Hutch’s trailblazing leadership continues to inspire us as we forge ahead, empowering Black women to lead, advocate, and shape a more equitable future for all,” added Woods-Jones.

This year’s event introduced the DWJ Rising Star Award, honoring young leaders like Solano County Board Supervisors-elect Cassandra James, Danielle Motley-Lewis, Naomi Waters and newly elected State Assemblymember elect Rhodesia Ransom (D-Stockton).

According to organizers, the awardees all exemplify “the next generation of changemakers.”

Other awardees included:

Lifetime Achievement Awardees: Congresswoman Barbara Lee (D-CA-12) and Alameda County Supervisor Keith Carson
Man of the Year: Kenneth Maxey, CEO of the Greater SF Bay Area Urban League
President’s Corporate Award: Yvette Radford, Kaiser Permanente
In the Spirit of Ella State and Chapter Awards: Dr. Carolyn Greene, Dr. Marcella K. Smith, Dr. Carolyn Drake, Tinisch Hollins, Jackie Jones, Gloria Burgess Johnson, Tamika L’Ecluse, Ellen Nash, Betty Reid Soskin, and Ay’Anna Moody.

BWOPA also celebrated local champions across its chapters, including leaders in voter education, healthcare, criminal justice reform, and community advocacy.

In a statement, BWOPA said, “Honoring Ella Hill Hutch’s legacy, BWOPA recognizes her pioneering efforts as the first Black woman elected to the San Francisco Board of Supervisors. Her tireless work amplifying underrepresented voices continues to inspire BWOPA’s mission to build Black political power across California.”

“We extend our heartfelt thanks to our members, partners and allies who believe in BWOPA’s vision to invest in building power for Black women’s leadership,” said LaNiece Jones, BWOPA State executive director. “Your support ensures that Black women have a voice at decision-making tables locally, regionally, statewide, and nationally, advancing diversity and equity in leadership spaces.”