Gene Hazzard 
Member since May 19, 2014


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Re: “A Pox on Sports Team Owners

Letter to the Editor: April 30, 2014
It appears your April 30-May 6, 2014 issue of the EBX and the article "A POX ON SPORTS TEAM OWNERS" has only been written in response to the recent headline news of the racist comments made by Los Angeles Clipper team owner Donald Sterling.
While I might agree with your comments as to Oakland A's team owners Lew Wolff & John Fisher as well as uber-rich owners Joe Lacob and Peter Guber of the Golden State Warriors may deserve our scorn not for any racial epithet, but how they have used our taxpayer dollars for their personal "greed"; the $5,000,000.00 and $62,000,000.00 "ripped-off" by the respective owners[your referenced] funds that could be used for needed vital services in both the city and county.
I find however, you do not apply the same standard of SCORN and DISTAIN when it comes to Phil Tagami of California Capital Investment Group(CCIG)and all of his private-public partnership development agreements with the CIty of Oakland. Tagami has consistently 'ripped' of the 'cash-strapped' City's coffers for all of his private-public partnership endeavors. The City's 'taxpayer' dollars has become Tagami's Bank of first and last resort.

HERE ARE THE FACTS:
1. In 1997 the City sold the Rotunda Building to Rotunda Partners I/II [aka Phil Tagami]for $99 then provided a $12 million dollar deferred loan for 20 years and a deferred 3% interest for 15 years(note: this is tantamount to an INTEREST FREE LOAN FOR 15 years , for which the City is deprived of any revenues .
The City/Redevelopment Agency rejected four(4) Development groups ALL of whom complied with the minimum requirements of the REQUEST FOR PROPOSAL(S). Amongst other things included: ability to put $20 million dollars in an escrow account and to provide a refundable $150,000.00 good faith amount. The City/RDA rejected ALL of these bonafided offers, then selected Tagami.
Tagami's proposal stated the the City would RETAIN ownership of the building and Tagami further asked for $7,500,000.00 for financing. NONE of which were terms and conditions set forth in the original Request For Proposal for the Rotunda Building. The City does not receive any of the NEEDED leasing revenues from the tenants in the Rotunda Building.[see website cleanoakland.com[FACTS YOU SHOULD KNOW ABOUT THE ROTUNDA BUILDING]

2.The City sold four(4) parcels of the Rotunda Garage: three(3)of the parcels were sold to Rotunda Garage LP [aka Tagami]for $99 each and one(1) parcel for $1 lease for 5 years. The City provided $4 million dollars in "GAP" funding for which he does not have to pay back. Tagami was chosen after several parking lot developers were rejected(see website cleanoakland.com[FACTS YOU SHOULD KNOW ABOUT THE ROTUNDA GARAGE] Tagami receives 100% of the parking lot revenues. None of the NEEDED revenues come to the City.

3. There were several developers who expressed interest in the FOX Theatre project, they were rejected Tagami once again selected, This project has noted in the Fox Theatre Performance Audit ran over budget by 172 %. The project started out under Tagami approximately $32 million dollars and ended up costing the City nearly $100 MILLION DOLLARS

4. The former Oakland Army Base Redevelopment project which is project to cost over $700 million dollars at today's prices. Tagami was selected. The experienced developers were rejected.

5. Currently, Rotunda Partners II(Tagami) are defendant(s) in a ponzi-like scheme in Federal Court in Texas. FAULKNER v. ROTUNDA PARTNERS II filed September 2013.

ALL OF THE PROJECTS LISTED ABOVE HAVE REQUIRED THE CASH-STRAPPED CITY TO SUBSIDIZE PHIL TAGAMI.

WHERE IS YOUR OUTRAGE IN YOUR REPORTING THE FACTS. [go to cleanoakland .com]

P.S. NOW THE BAY AREA TUMOR INSTITUTE{BATI} WANTS TO RECOGNIZE PHIL TAGAMI AS "A LIVING EXAMPLE" AT THE RITZ CARLETON IN SAN FRANCISCO ON MAY 23, 2014.

1 like, 0 dislikes
Posted by Gene Hazzard on 05/19/2014 at 6:59 PM

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