It's Thursday-- Do You Know Where Your Football Team Is?
On Tuesday, the 49ers unveiled their shiny new plan for a stadium in Santa Clara. The whole thing will cost about $854 million with Santa Clara pitching in what is said to be $160 million, although Santa Clara still might have to throw down for another $20 million to move the substation that's on the grounds of the proposed stadium. The rest of the money, $694 million, will come partially from the Niners ($363.3 million) and partially through the usual assortment of things, mainly naming rights and fan gouging.
The Niners also told Santa Clara that they will handle any sort of price overruns and that ticket sales and other revenue items will go into fixing up the stadium so the city won't have to. Some of that money could come from between 10-20 events the stadium could host besides football. Also, they will pay $5 million a month to Santa Clara in rent every year. Monorail!
Now how Santa Clara will pay for all of this is up in the air. The Niners basically told Santa Clara that it's their problem and Santa Clara is saying they won't do anything like raise taxes to pay for it, something that limits their options. It's good that they say that too because according to polls, residents of Santa Clara like the idea of a new stadium, but don't want to pay for it. Already, there are calls for an election just to approve the idea.
As for San Fran, they're moving ahead with their plans for the Hunter's Point/Bayview area. Gavin is making nice with the York's and has Aaron Peskin helping out. Awww...isn't it nice when everybody gets along? Well, everyone except Jake McG, who thinks it's all just some political ploy, and others who complain that some evil corporation (Lennar) will make money off the deal.
