Here is the link to the staff report that was authored by the revenue manager who is no longer with the City and the report was drafted in 2009. https://oakland.legistar.com/LegislationDetail.aspx?ID=748060&GUID=BDA3B46D-11F4-4D60-A2F8-AE6A4589F8C1&Options=&Search=
In the second paragraph of the report under "background" it does not indicate that the measure "had the potential to generate $12 million." It reads, " Over the past few years, staff identified and pursued collection enforcement against a number of large corporate real estate transfers. These transactions had the potential to generate over $12 million in GPF revenue."
Under the fiscal impact section, it states, "[...] it is difficult to project how much additional tax revenue would be realized from corporate merger, consolidation, and acquisitions activities." Thank you,
November 27, 2018, 6:56pm
Shahla Azimi, Revenue Analyst (Staff)