05-30-2009, 12:26 PM
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#1 (permalink)
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FBF Hall Of Famer
Join Date: Feb 2009
Location: New York
Posts: 9,304
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49ers reach deal for Santa Clara Stadium
Quote:
Mike Swift of the San Jose Mercury News reports capping 18 months of closed-door negotiations, the 49ers and Santa Clara unveiled a proposed stadium deal Friday that would require $114 million in public money — almost 50 percent less than the two sides had earlier considered to bring the storied NFL franchise to the South Bay.
Under the proposed financial plan, the public contribution would come from a combination of redevelopment money, a new tax on area hotels and municipal utility funds to finance 12 percent of the $937 million cost for a new 68,500-seat stadium near Great America and the Santa Clara Convention Center. The stadium is now slated to open in 2014, two years later than initially planned.
City Manager Jennifer Sparacino, who is recommending Capping 18 months of closed-door negotiations, the 49ers and Santa Clara unveiled a proposed stadium deal Friday that would require $114 million in public money — almost 50 percent less than the two sides had earlier considered to bring the storied NFL franchise to the South Bay.
Under the proposed financial plan, the public contribution would come from a combination of redevelopment money, a new tax on area hotels and municipal utility funds to finance 12 percent of the $937 million cost for a new 68,500-seat stadium near Great America and the Santa Clara Convention Center. The stadium is now slated to open in 2014, two years later than initially planned.
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http://blog.theredzone.org/ViewItem.asp?Entry=1582
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49ers reach deal for Santa Clara Stadium
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