As we reported a few months ago, the City of Oakland began looking into selling the Henry J. Kaiser Convention Center to help address its multimillion-dollar budget deficit. And it appears one step closer to making that a reality. At last night’s meeting, the city council agreed to a proposal to sell the city-owned venue, which shuttered back in 2006. While there are no firm buyers yet, Councilwoman Nancy Nadel said there are two groups interested in purchasing the property.
The city has budgeted to receive about $10 million from the sale, but Nadel believes the city may be able to get more than that. About $30 million in debt is attached to the Henry J., and that amount would be transferred to the City Hall complex if the convention center is sold.