The proposal includes a new 35,000-seat stadium, a hotel, residential units, a concert venue, and commercial space.
The multi-billion dollar project was originally supposed to be 100 percent privately-funded. However the vote allows for Alameda County to help provide funds for the stadium as well.
Board of Supervisors President Keith Carson, the only supervisor to vote no, expressed concerns over the financial investment and the project's reliance on legislation that has yet to pass.
Next steps include the City of Oakland issuing a final Environmental Impact Report by the end of this year. In addition, a Development Agreement will go before the Oakland City Council, Alameda County Board of Supervisors and Port of Oakland Board of Commissioners for approval.