SAN FRANCISCO — Oakland, California’s eighth-most populous city, may have to sell its convention center or securitize its parking revenues to close a projected $44.3 million general fund deficit over the next two years.

The city’s finance staff presented those options to the Oakland City Council Tuesday night after the city discovered that it would have an $18.9 million deficit in the current fiscal year and a $25.4 million deficit in fiscal 2010-11. The city’s also considering tax increases to raise more revenue next year.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.