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Dave Stewart: Oakland Athletics Star Submits Letter Of Intent To Buy Coliseum Land For $115 Million

Dave Stewart: Oakland Athletics Star Submits Letter Of Intent To Buy Coliseum Land For $115 Million - Video

Dave Stewart: Oakland Athletics Star Submits Letter Of Intent To Buy Coliseum Land For $115 Million The baseball great teamed with a tribal lands developer for the light-on-specifics proposal focusing tribal casino and hotel development on the Coliseum land. A source who wished to remain anonymous sent a seven-page document to this vlogger called “Confidential Letter of Intent To The City of Oakland. Dave Stewart and LJB Enterprises LLC Development Team”. As the title suggests, the Oakland A's baseball star wants to buy the Oakland Coliseum land not already owned by the Oakland baseball organization, but the Coliseum Joint Powers Authority / City of Oakland for $115 Million. LJB Enterprises is out of Michelleville, Maryland, and represented by Laray J. Benton, as its CEO. The seven page document, submitted to the City of Oakland on November 16th, 2020, lacks any mention of details that I would expect to see in an effort to ostensibly develop land with the intent to maintain sports in Oakland, and build the mixed-use Coliseum City project. The document, shown here, also reports that the Stewart / LJB Proposal comes with “Primary National Black, Latinx, and Tribal Development Initiatives” to focus on Tribal Casinos and Resort Hotel, RV Resort, National Black and Latinx Banking, Insurance & Mortgage Lending Development, and HBCU – Tribal Partnerships” and has “national relationships” with Top Golf, Main Event, Wawa Gas Station, Planet Fitness, Starbucks Coffee, Target, CVS, Health Clinics, Marriott, Hilton, and Radison National Hotel Flags. Offers To Pay $115 Million But Wants Agreement To Be Secured With Just $10,000 Deposit The Stewart / LJB Proposal states that within 10 days of the execution of the purchase contract, “Buyer”, which is Stewart / LJB, will “deposit earnest money” of $10,000 to a licensed title insurance company of the partnership's choice. It would be held in escrow, then credited against the purchase price of $115 Million. Stewart / LJB want a contract review period for the proposal of 180 days, where the City of Oakland would grant the partnership the right to do soils testing, title search, market research, regional and national contractor negotiations, detailed and preliminary site plans and discussions with local planning board staff, and marketing. After that, Stewart / LJB wants an Approval Period of 14 months, punctuated by gaining approvals and building permits, but with two 90-day extension periods, if necessary. Proposal Seems To Show County Center Prince George As Model For Coliseum While the Stewart / LJB proposal is not specific on the County Center Prince George mixed-use-development in Maryland as a model, the website URL to that project is presented where the eye can't miss it. In search results on Google, the County Center Prince George is described as “Urban planning department in the Lake Arbor, Maryland”. The County Center Prince George Development is, as the website reads: Conceptually encompassing approximately 46 acres just off of the Capital Beltway (I-495), in the heart of Prince George’s County, Maryland, County Center Prince George’s is planned to be a phased and renewable “DC-like” urban development combining Office, Retail, Restaurant, Entertainment, Hotel and Residential uses uniquely in a sprawling suburban environment. Picture a community with unsurpassed architectural quality, a fusion of functionality and finesse that combines an attractive mix of workforce, middle-income, and up-scale housing with world-class offices, restaurants, entertainment, and retailers. Providing over 2 million square feet (SF) niche new construction opportunities, this 24-hour community will buzz with pedestrian traffic on its wide boulevards and the crowd of people in the sidewalk cafes and expansive parks. The result? A quality of life unmatched on the East Coast. LIVE * WORK * PLAY * REVIVE * RENEW The entire post here at Oakland News Now:
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