APPROVED AS TO FORM AND LEGALITY
___________________________
CITY ATTORNEY’S OFFICE
OAKLAND CITY COUNCIL
RESOLUTION NO. ______________ C.M.S.
INTRODUCED BY COUNCILMEMBER FIFE
RESOLUTION I N SUPPORT OF H.R. 5356, THE NATIONAL
INFRASTRUCTURE BANK ACT OF 2025
WHEREAS, the American Society of Civil Engineers (ASCE) stated in its 2025 report card that the United States received a grade of C regarding the current state of infrastructure; and
WHEREAS, nine trillion dollars is needed to restore the nation’s infrastructure to a state of good repair and nearly four trillion dollars is currently not funded, and the remainder is inadequately funded; and
WHEREAS, ASCE rated California roads D, noting that condition s are among the worst in the nation and the State is in need of a permanent source to finance a h igh-speed rail system; and
WHEREAS, California has the second largest percentage of “functionally obsolete” bridges; approximately 50% of bridges in the state having exceeded their design life; and
WHEREAS, California is facing an affordable housing crisis; 55% of renters and 38% of homeowners in California are cost-burdened (spending 30% or more of their income on housing); and
WHEREAS, nearly 45,000 shovel ready affordable housing units in the state are unable to be constructed due to insufficient public funding; and
WHEREAS, many schools in California, including those in Oakland, are aging, with 30% of schools built over 50 years ago and roughly 10% more than 70 years ago; and
WHEREAS, some of these infrastructural needs are notable in the City of Oakland; and
WHEREAS, Oakland roads are in poor condition and to repair and replace crumbling roads will require hundreds of millions of dollars; and
WHEREAS, a 2024 report developed by California Housing Partners noted that 58,904 low-income renter households in Alameda County have no access to an affordable ho me; and in Oakland alone nearly 30,000 units are needed of truly affordable housing; and
2 WHEREAS, Oakland has a significant lead water service line problem in at least two dozen city schools and the cost to replace the lines could be $65 million; and
WHEREAS, Representative Danny K. Davis has introduced H.R. 5356, The N ational Infrastructure Bank Act of 2025, to create a new National Infrastructure Bank (NIB); and
WHEREAS, the NIB legislation creates a $5 trillion bank, authorized to invest in infrastructure projects only and would require no new federal spending and no new federal taxes; and
WHEREAS, the NIB would be capitalized by existing Treasury debt, as was done previously in U.S. history; and
WHEREAS, the NIB is modeled on previous banks and financed large amounts of new infrastructure in California and Oakland, including the Alameda County Courthouse, San Francisco-Oakland Bay Bridge, many other bridges and public works; and
WHEREAS, the National Infrastructure Bank is estimated to create twenty-five million new high-wage jobs, and includes strong Buy America provisions; now, therefore, be it
RESOLVED: That the Oakland City Council hereby calls upon the United States Congress to create a National Infrastructure Bank to finance urgently needed infrastructure projects; and be it
FURTHER RESOLVED: that copies of this resolution be transmitted to the City’s congressional representatives.
IN COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - BROWN, FIFE, GALLO, HOUSTON, RAMACHANDRAN, UNGER, WANG, AND
PRESIDENT JENKINS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
City Clerk and Clerk of the Council of the
City of Oakland, California
3459017/LL