Skip to comments.Santa Clara, 49ers announce deal to pay for stadium
Posted on 12/03/2011 2:08:23 PM PST by Utah Binger
At long last, the 49ers' turbulent drive for a new home in Silicon Valley is reaching the end zone.
The NFL team and Santa Clara announced Friday that they have captured all the money needed to build a proposed $1 billion football stadium next to the Great America theme park -- the largest and final obstacle needed before construction can start.
"It's like first-and-goal from the 9-yard line," said Ron Garratt, a consultant helping lead the project for the city. "We think we're going to score from here."
The funding deal was spelled out in a development contract that caps two-and-a-half years of closed-door negotiations between city and team leaders and essentially completes a planning process that began when the team announced interest in abandoning San Francisco five years ago.
Goldman Sachs, U.S. Bank and Bank of America have agreed to loan the city and team a combined $850 million to pay for the lion's share of the construction, which could start as soon as next year. But critics are alarmed by a major shift in the funding plan that emerged Friday: The city will take on more than twice as much debt as was promised to voters, even though the 49ers vow they won't leave the city holding the bag.
(Excerpt) Read more at mercurynews.com ...
“The city will take on more than twice as much debt as was promised to voters”
“All my pals in Santa Clara California are thrilled about this.”
Your pals are all liberals I assume?
Forgot sarcasm tag. LOL
“All my pals in Santa Clara California are thrilled about this.”
All your pals are thrilled that their local government is using tax payer dollars to build a billion dollar structure for a private company?
Why are all your pals Socialist?
Anyone with the means should just get out of Kalipornia. Flee for your future.
They won't be if they have to commute there. It will create monster traffic jams right in the heart of Silicon Valley.
Much better and what I was really hoping for was a new stadium across McCovey Cove from The SF Giant's AT&T Park, the Tiffany Diamond of Baseball Parks. That is such a perfect and beautiful location, right next to the bay with killer views of the water and the Bay Bridge. It's in China Basin, the warmest, sunniest spot in San Francisco and the ingress and egress is superb with multiple forms of transportation that stops right there.
I can assure you his friends are not liberal.
I just moved from L.A. and I will say the ONE thing L.A. has consistently done right is insist that if the NFL puts a team there that not only will the taxpayers not pay a dime but the NFL (and sponsors) will pay the taxpayers.
We (now they) survived quite well for lo these many years (15+?). Those warm weather cities that pay through the nose for an NFL team are welcome to them (cold weather cities have an excuse).
FYI, it is true what you hear: when you move to Dallas they staple a “Cowboys #1!” foam finger to your forehead and make you take a loyalty oath... ;)
Fun to tease the DUmmies.
The real 99% should burn down City Hall and 49ers HQ. Maybe they would get the point.
No more corporate welfare
It’s like a sport isn’t it!!
Once again the taxpayer takes the shaft. All for the purpose of bread and circuses.
The new stadium should be named ‘Taxpayers Memorial Stadium’
Then again, thats true for most of them.
>>Anyone with the means should just get out of Kalipornia.<<
I did last month (L.A. to Irving/Dallas) and it was the best decision of my life (born and raised in L.A.). Even now I am reading the idiots in Kali are planning both a gas tax (I paid $2.91 a gallon last week — it was $3.60 a gallon in L.A. when I left) AND putting an income tax increase on the ballot.
They are nucking futz.
The fine conservative folks in Arlington, Texas who vote almost 75% Republican were more than happy to provide Jerry Jones a billion dollars to build a stadium.
And that would make the people of Arlington a bunch of damn Socialists.
But just imagine all the fun you can have in the bar teasing the brilliant lefties.
Why, yes, actually I do believe in the Tooth Fairy. Why do you ask?
Oh, you moved to the Metroplex where the voters were more than happy to give Jerry Jones a billion dollars?
By leaving California for Texas, you simply switched Socialists.
I bet you two weren’t the only FReepers moving here recently.
You forgot to read the small print. It says if you are illegal you get in free when you sign up to vote.
It’s the Kali way.
>>By leaving California for Texas, you simply switched Socialists.<<
Debatable. Trust me, Texas may be more left than many would like but it is a LOT more conservative (and downright more capital-friendly in many ways) than the People’s Republic of Kalifornia.
Yeah, I know about the Jones Monument to Himself, but even when you factor that in it is still a lot better here. A LOT.
The people of Arlington are nuts.
Always have been.
Hope they enjoy selling peanuts and beer 10 days a year for their billion.
>>I bet you two werent the only FReepers moving here recently.<<
And after the next combination of legislation, budget busting judgments (the courts continue to tell kali it has to fund prorams when it ain’t got any money) and “fees” I suspect we will be joined by an ocean of them in the next year.
You are correct sir/maam
Well, maybe it will be OK then. I guess I'm just biased to San Francisco. I've lived in the Santa Clara County all my life and I still would rather go to the City for a game. Great restaurants, great place to walk around - the best. That South beach area where AT&T park is great. You can walk along the waterfront with million-dollar views to some of the best restaurants in the City.
I think that would be the best place.
It is going to suck on 101, 237, 880. Well, 880 already sucks so loudly I won’t drive past Union City for business or pleasure.
Tasman will no longer be the shortcut.
Why can’t they put it in Alviso? You’d still have Bay Views and there would be less pressure on local streets.
Saint Claire 49ers?
Oh gosh, Alviso. The smell would be pretty bad. I’m with you. Right next to At&T park. The best two sports complexes in the country.
Doesn't quite cut it does it?
I was thinking if they can build those giant glass buildings up on that man made hill off 237, then they could pave over the rest of area that’s not being used, dredge the dead harbor, rehabilitate the marsh and people could sit in their little dingy’s watching the game.
Heck, it would be cool to have a new dock there and people could ferry themselves on their personal watercraft to the park.
I think there are only what, 4 maybe 5 businesses there and that old Mexican restaurant would hit the jackpot and they could expand buy purchasing some delapitated homes.
Hell, Alviso could get clean up and the impact on the place would be an improvement.
It would still be next Marriott’s Great America but in a more reasonable place.
I get my car washed at the Shell station and I’d have to stop going there.
237 is already a 1 hour drive after 330 to get to Milpitas. Now it’s going force people to get a pilots license and their own helicopter.
Its about time. When you consider that the majority of their attendees are from Santa Clara County they should be called that. The elitists of San Francisco have had their day. Besides the idiots from the Castro don't deserve a team.
I traded in my Dodgers cap for a Texas Stetson six years ago.
Ha! You know about that place. Everybody goes there. Haven't been there for years. Rosita's I think.
Speaks well of San Francisco which wouldn’t build them a stadium with private shopping centers and condos.
Being recently transplanted Californios, you and I know that for a fact. It's one thing to read about the nutso environment in Cali, but quite another to live in it.
Texas is unbelievably refreshing for conservative refugees from California. That's a fact.
The A’s have been looking to move down that way too.
My brother and sis-in-law live there (circa San Tomas and El Camino). To say they are less than thrilled would be an understatement.
Where exactly is it going in, by Great America?
I started driving over there after previous post but was drawn to the “ Cheese Steak ShopI had a horrible wandering for onion rings.
Had as in I just finished an order of onion rings. Yummmm!!!!
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Since it’s the home of the x86 technology (still in your Intel i7 ‘puter, you betcha!), may be we oughta change their name to Silicon Valley 86ers!
86 means to throw out and/or ban.
I’d go with 77ers...
That’s why I’d go with 86. What is 77?
Yes, but it would be right near Maria Elana’s, you could get excellent Mexican food a short walk from the park.
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