From San Francisco Cityscape:

If any city could use a streetcar, it’s Oakland. Oakland could use a lot of things, sure. But streetcars aren’t a tool for mobility so much as economic development. And for that reason, they can be funded creatively — say, by employing a value-capture strategy. But that’s not our job. We make maps. And in this case, OK — we are trying to get folks thinking at least a little bit about the potential of a streetcar to help revitalize Oakland streets. Oakland’s been down this road before, with a modest proposal that was still too much for certain Oakland politicians. But as another politician said: Hope is not sitting on the sidelines.

Proposal for a modern streetcar system connecting the disconnected and underdeveloped districts of Downtown Oakland, and connecting downtown to the redevelopment zones of Broadway Auto Row and Oak to 9th. An existing official proposal has failed to gain traction; in the past, we’ve proposed a more modest circulator shuttle. But the urban core of the East Bay deserves better. Fortunately, cities across America have found ways to fund similar systems from a mix of public and private sources, including tax-increment financing (over the long term, redevelopment will add to the tax rolls). This network could be rolled out in phases, starting with the City Center-to-Jack London segment proposed in the BART study. It would require only a few blocks of dedicated right-of-way, in a contraflow lane along Madison Street. While streetcar lines could generate development, they would also generate tax revenue by supporting existing businesses, and would help make Central Oakland a more livable place for current as well as future residents and workers.

All I really have to say to this is, “yes.”

Oakland Streetcar Proposal