Housing and economic development advances
At a glance
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The committee forwarded four major actions to the July 7 City Council agenda, including a proposed Costco negotiation agreement, BID assessment renewals, HUD housing funds totaling up to $14,674,799.07, and a change to make 319 Chester Street an affordable rental project.
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What this means
The committee moved several housing and economic development items forward for final City Council review. If approved later, Oakland could enter a 24-month exclusive negotiation with Costco for a store on city property, carry out annual district assessments that include a $509,669.34 city payment, and accept up to $14.67 million in federal housing-related grant funds for 2026-2027. The committee also supported changing the 319 Chester Street project from a for-sale two-family home to an affordable rental property.
Key decisions
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- Accepted the June 9, 2026 committee minutes.
- Accepted the schedule of outstanding committee items.
- Forwarded the Costco exclusive negotiation agreement to City Council with a recommendation to approve; the proposal includes a $300,000 negotiation payment and possible additional $25,000 extensions.
- Forwarded the BID annual reports and 2026-27 assessment actions to City Council; the package includes a $509,669.34 city assessment payment and increases for several districts.
- Forwarded the 2026/2027 HUD Annual Action Plan as a public hearing item; the plan would accept up to $14,674,799.07 in federal grant funds.
- Forwarded the 319 Chester Street ordinance to City Council; the change would convert the project to an affordable rental and consolidate loans into a long-term rental loan.
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