OAKLAND (KRON)—The city of Oakland is putting together a proposal that it hopes will entice the Raiders organization to stay in town.

We don’t know many of the details yet, but I spoke to council member Noel Gallo, who says the proposal is long overdue.

He says the pitch for Raiders owner Mark Davis and the NFL is one that involves private money from the group of investors that former player Ronnie Lott is organizing.

They’re hoping not just for a new stadium, but for new housing and retail in the area, too.

Earlier this week, Mayor Libby Schaaf said she didn’t want to get into a bidding war with the state of Nevada, whose legislature has agreed to put up $750 million of public money.

“I’m now in agreement with what’s being proposed,” Gallo said. “It’s a competitive proposal, but I will say it’s a proposal that the citizens of Oakland and the county and the region can also benefit from.”

“My faith in them is that they will come out on top,” one man said.

“I think they should,” one woman said. “Whether they can, I don’t know, but I think they should. I want ’em to stay home.”

Gallo says the proposal would not cost the taxpayers anything.

Ultimately, the city council needs to vote on it.

They’ll be discussing it in a closed door meeting on Tuesday.

Gallo thinks other councilmembers will support it, too.