Oakland Finance Committee: Public Bank Feasibility Study

Categories:

When:
June 13, 2017 @ 9:00 am – 11:00 am
2017-06-13T09:00:00-07:00
2017-06-13T11:00:00-07:00
Where:
Oakland City Hall, off Oscar Grant Plaza
500 14th St
Oakland, CA 94612
USA

Item #4

Subject: Feasibility And Economic Impact Of Establishing A Public Bank
From: Finance Department
Recommendation: Adopt A Resolution (1) Amending The City Of Oakland’s Fiscal Year (FY) 2016-17 Midcycle Budget (Which Was Adopted Pursuant To Resolution No. 86250 C.M.S. On June 21,2016) To Appropriate One Hundred Thousand Dollars ($100,000), From The Fiscal Year 2016-17 General Purpose Fund (1010) Balance For A Contract To Complete A Feasibility Study On Public Banking In Oakland, And (2) Authorizing The City Administrator Or Her Designee To Negotiate A Scope Of Work, Terms And Execute A Contract With Global Investment Company In An Amount Not To Exceed One Hundred Thousand Dollars ($100,000)

 

The Finance Committee will be deciding on whether or not to fund our feasibility study. This is an important meeting; please come and wear your t-shirt if you have one. (Let us know if you want one.)

If you can join us on June 13,

1. Go online to https://solar.oaklandnet.com/Speaker/form and fill out a card. Choose item 4. Be sure to click Next and Register. Even if you don’t want to speak, get a card, so you can cede your time to someone who wants to speak longer.
2. Show up at 9:oo a.m.! We are early on the agenda for once.

Read the Friends of the Public Bank of Oakland mission statement.

The Public Bank of Oakland will:
  • Get Oakland out from under the control of nonlocal big banks
  • Reduce the cost of lending and borrowing for the City of Oakland and nearby communities that make use of the Bank
  • Solve the problem of millions of dollars in cash that the cannabis industry cannot legally deposit in private banks
  • Bring jobs, affordable housing, new small businesses and worker cooperatives, infrastructure, credit, and independence to our city
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