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

Oakland, CALocal News

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.

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