OAKLAND (CBS SF) — The board that oversees the Oakland Coliseum complex voted Friday to approve an agreement to extend a lease  that will keep the
Oakland Raiders at the O.co Coliseum for at least one more year.

The agreement that was approved by the Joint Powers Authority also includes two additional one-year extensions that could keep the Raiders in Oakland for the 2017 and 2018 football seasons as well.

READ MORE: Volunteers Spread Out Across Bay Area for Annual Coastal Cleanup

Friday’s action approves a tentative agreement that city of Oakland and Alameda County officials, who oversee the Coliseum complex’s operations, and the Raiders announced on Feb. 11.

The pact calls for more than tripling the amount of rent the Raiders will pay to the city and county for using the O.co Coliseum and their publicly-owned training facility in Alameda from $925,000 to $3.5 million.

The rent for the Alameda training facility will remain the same at $525,000 a year but the rent for the stadium will increase from $400,000 to $2,975,000 annually.

JPA spokesman Dan Cohen said the increase will cover the costs the city and county incur on the days of football games.

The lease must now be approved by the Oakland City Council and the Alameda County Board of Supervisors when they consider it at meetings in the next few weeks.

READ MORE: San Francisco Celebrates Rise of Lowrider Community With Car Show and Cruise

The JPA said the Raiders and the city and county were still actively discussing longer lease extensions as well as the possibility of building a new football stadium at the site.

Raiders owner Mark Davis has explored the possibility of moving the team to other cities such as Los Angeles, San Antonio and Las Vegas but when the tentative lease extension was announced last month he said it wouldgive the team the chance to work out a deal with the city and county to build a new stadium that would keep his team in Oakland for the long term.

Oakland City Councilman Larry Reid, who chairs the JPA, said in astatement, “We are pleased that this agreement recognizes that the Oakland Raiders are a crucial part of our local sports economy.”

Reid said, “Working together with the team and our community partners, we now go back to work to create a longer-term agreement for a permanent home for the team.”

Alameda County Board of Supervisors President Scott Haggerty, who serves on the JPA’s board, said, “We are thankful that our collaboration with the leadership of the Raiders has yielded this agreement. Mark Davis, (Raiders President) Mark Badain and the Raiders have continually said they want to be in Oakland and the JPA has continued to work hard to make that happen.”

MORE NEWS: San Francisco Schools, Public Health Dept. Partner to Provide Campus COVID Vaccinations

TM and © Copyright 2016 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2016 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Bay City News Service contributed to this report.