City Government

Council Committee Approves Feasibility Study for Public Bank of Oakland

Published

9 years ago

June 13, 2017

The City Council’s Finance Committee voted Tuesday to approve Councilmember Rebecca Kaplan’s request to fund a feasibility study for a Public Bank of Oakland and the larger region.

The resolution calling for a feasibility study was authored by Councilmembers Kaplan, Kalb, and Guillen. The resolution passed Tuesday will be forwarded to the June 20 City Council Meeting.

“A major benefit of public banks that cannot be overstated is the stability they bring just by their nature of being removed from the gambling forums associated with large, private banks,” said Christine McClintock, financial analyst and member of the local advocacy group Friends of the Public Bank of Oakland.

“We need an option that will give us and our neighbors the financial stability we are still struggling to achieve after the Great Recession,” she said. “This process may take a long time, even if we act immediately. Investigating the public bank option is financial responsibility.”

After hearing public comment, the Finance Committee voted to appropriate $100,000 from the fiscal year 2016-17 General Purpose Fund balance for a contract to complete a feasibility study on public banking in Oakland and the larger region, and authorize the City Administrator to negotiate a scope of work, terms, and execute a contract With Global Investment Company in an amount not to exceed $100,000.

The item passed with amendments, including specifying community involvement in the next steps.

“I was thrilled to see the outpouring of support for public banking. Creating our own institutions is a beautiful example of how we can strengthen our community at the local level, and continue to build a more just and inclusive society, even in the face of troubling signs at the federal level,” said Councilmember Kaplan.

Oakland Post

Posts by Oakland Post

Related Topics:Oakland public bank rebecca kaplan

Up Next

Silicon Valley Meets with State Legislators to Renew Commitment to Diversity

Don't Miss

Desley Brooks Hosts 4th Annual Juneteenth Community Picnic in East Oakland

Oakland Post

Click to comment

Activism

Oakland Post: Week of July 15 – 21, 2026

The printed Weekly Edition of the Oakland Post: Week of July 15 – 21, 2026

Published

4 days ago

July 18, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Activism

From Disparity Study to Solutions: Oakland Coalition and Mayor Barbara Lee Renew Commitment to Reform City Contracting

She committed to ensuring the coalition has direct access to City leadership by designating Assistant Deputy City Administrator Chuck Baker the primary liaison. Working alongside Deputy City Administrator Sofia Navarro, DWES Director Emylene Aspilla, Race and Equity Director Darlene Flynn, and other City departments, the coalition will continue advancing these priorities while maintaining regular communication with City leadership.

Published

1 week ago

July 15, 2026

Oakland Post

Present at the recent meeting on implementing recommendations on Oakland’s Disparity Study on city work contracts were (first row, l. to r.): Chuck Baker, Oakland Mayor Barbara Lee and Darlene Flynn. Second row, l. to r.) Samuel Adams, Erica Astrella, Chadwick Spell, Cathy Adams, Stanley Cooper, Maria Wagner, Len Turner, Derek Barnes, Paul Cobb. Photo courtesy of Oakland Mayor’s Office.

Special to The Post

On June 30, a coalition of minority business leaders, contractors and others met with Oakland Mayor Barbara Lee to discuss the City’s commitment to implement recommendations outlined in Oakland’s Disparity Study and eliminate barriers that have historically prevented Black and minority-owned businesses from fully participating in public contracting opportunities.

Representatives of the Oakland African American Chamber of Commerce (OAACC), National Association of Minority Contractors Northern California (NAMC NorCal), Construction Resource Center (CRC), and the East Bay Rental Housing Association (EBRHA) said the meeting represented an important milestone in a process that has been underway for several months.

On April 21, the Oakland City Council’s Life Enrichment Committee received a progress report from the Department of Workplace and Employment Standards (DWES), where Director Emylene Aspilla presented the coalition’s working document and outlined a collaborative implementation plan between the coalition and the City. That report established 30-, 60-, and 90-day objectives focused on five key priorities:

Reforming Local and Small Local Business Enterprise (L/SLBE) waiver practices
Strengthening prompt payment compliance
Improving procurement forecasting and transparency
Expanding contractor capacity building and business development
Increasing oversight, accountability, and public reporting

A series of working sessions was scheduled between coalition representatives, DWES, and the City Administrator’s Office to begin implementing those priorities but were temporarily delayed by the resignation of former City Administrator Jestin Johnson.

Rather than allowing that momentum to stall, OAACC President and CEO Cathy Adams requested a meeting with Lee to gain clarity on the City’s direction and reaffirm its commitment to implementing the recommendations contained within the Disparity Study.

Coalition leaders described the meeting as productive, candid, collaborative, and encouraging.

During the meeting, Lee spoke not only from her role as mayor but also from her experience as an 8(a) contractor and business owner, sharing that she understands firsthand what it takes to build and grow a successful company, employ a substantial workforce, compete for public work, and navigate the complexities of municipal contracting.

Mayor Lee also expressed her commitment to personally participate in future working meetings with the coalition.

“This meeting represents a renewed commitment to partnership,” said Adams. “Mayor Lee listened, engaged, and demonstrated that she wants to move beyond conversation and into implementation.”

CRC’s Len Turner said the roadmap is already in place. ““The City already has the evidence. What’s been missing is execution. …Now it’s time to deliver results.”

Mario Wagner, president of NAMC NorCal agreed that the next phase must focus on implementation, funding, and accountability.

“The coalition is ready to get to work. …The next step is ensuring these initiatives receive meaningful funding in the upcoming fiscal budget cycle. Just as important, the City must establish transparent reporting mechanisms that keep the public informed through regular progress reports, measurable benchmarks, and accountability.”

Coalition leaders also acknowledged that while City leadership has indicated it is reviewing Local and Small Local Business Enterprise waiver practices, the community continues to seek a formal response regarding existing long-term waivers, including waivers extending 10 and 25 years. The coalition believes those waivers should be comprehensively reviewed and, where appropriate, rolled back as part of the City’s broader contracting reforms.

The coalition is also calling on the City to include meaningful funding in the upcoming fiscal budget cycle to support implementation of the Disparity Study recommendations and establish better methods and mechanisms to keep the public informed through regular progress reports, measurable benchmarks, and transparent accountability.

The coalition’s immediate next step is to schedule a working meeting with Baker, Aspilla, Lee, and the appropriate City staff to review what has already been accomplished under the implementation framework.