City of Oaklands Gateway Industrial District fulfills long held community promise by entering into 2.4M West Oakland Community Fund grant agreement

The City of Oakland will allocate up to $2. 4 million for economic development initiatives in West Oakland through the newly established West Oakland Community Fund. Funding will be sourced from developers of the former Oakland Army Base, with $1. 7 million already provided and the full amount expected to be reached through ongoing development. The Rose Foundation will oversee the fund, distributing about $500,000 per year over a four to eight-year period to support local entrepreneurship, job training, environmental projects, and educational initiatives.

Interim Mayor Kevin Jenkins praised the collaborative efforts of various stakeholders in addressing the needs of a historically disinvested area. Councilmember Carroll Fife noted the importance of these funds for creating opportunities for local residents, emphasizing a long-standing commitment to this cause. The Port of Oakland will contribute an additional $2 million to enhance the impact of these projects. The West Oakland Community Fund aims to tackle economic, social, and environmental equity issues in the community. This initiative represents a significant step toward revitalizing West Oakland and fostering sustainable development.