Santa Clara county officials threw a wrench into the San Francisco 49ers stadium deal on Friday night by pulling $30 million in county funding that had been thought long-approved, saying, as the San Jose Mercury News reports it, "they would rather spend the money on teachers than install 'little televisions in the back of stadium seats.'"
This $30 million has an insanely convoluted history, beginning with $40 million in Santa Clara redevelopment agency that was earmarked for the stadium. When the state of California eliminated RDAs last year with only $10 million of the money allotted, the county stepped in to fill the remaining $30 million gap.
Only now, a new oversight board appointed to decide what to do with the property tax money that used to go to RDAs has decided to pull the funds. "Let's be real: That stadium is going to get built whether or not you get this $30 million," county tax collector (and oversight board member) George Putris told a 49ers attorney at the Friday night meeting.
That's almost certainly true, given that not only has ground already been broken, but according to the Merc News, 49ers officials have said they'll "eat the loss" if the money isn't available.
Lawsuits are now all but certain, though it's hard to say who exactly will be suing who for what. Will the city sue the county? The 49ers sue the city, the county, or both? And what about Naomi?
from Field of Schemes http://www.fieldofschemes.com/news/archives/2012/06/4991_santa_clara_cou_3.html
No comments:
Post a Comment