Report: Oakland still paying for 1995 bonds

More and more information regarding the city of Oakland’s stadium woes continue to be released as a it appears a possible Raiders relocation to Los Angeles is gaining steam.

The city of Oakland and Alameda County don’t appear to spend millions of taxpayer money on a new stadium, and it appears there’s a good reason for it.

According to Rachel Swan of the San Francisco Chronicle, Oakland Mayor Libby Schaaf won’t support using public funds on a proposed $900 million stadium, which also seems to have a $400 million funding gap.

Not to mention, the city and county are apparently still paying off $80 million in bonds from the O.Co Coliseum project, the currrent home of the Raiders, according to Swan.

The funds come from when stadium renovations in 1995 that brought the Raiders back to Oakland were paid for by the public.

It’s just one more move in the wrong direction for the Raiders remaining in Oakland.

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