Article: on 49ers meeting and plan.

[ethanh]

Nothing really new but a few intersting comments.
We're told that nobody with the 49ers believes that developing the land around the stadium and tapping into redevelopment money alone would generate anywhere near the $180 million needed to swing the deal.
That still leaves the Niners counting on tens of millions from the city's Silicon Valley Power reserves. City staffers warned last month that using that money for the stadium could force a rate hike for residents of as much as 16 percent.


http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/04/23/MNGEQPDITH1.DTL

[TheWiz]

Thanks for posting on this Ethanh.

The official presentation by the team to the city of Santa Clara will take place tomorrow night at 7 pm. Same place and hour of day as the most recent meeting. At the time the team hopes to unveil its plans not only for the stadium and the area around it but also calls for land to develop and initial suggestions on the overall funding schematics. The emphasis will be placed on how the team plans to fund the stadium as a whole and to avoid making it look like a set of demands. While the package will most certainly involve a suggestion of public investment well over 100M total, there will not be any formal gestures for how to go about that. In this sense the team is selling an idea and everything we're willing to do financially to build it and leaving room for the city to discuss it. How exactly the public investment is given is going to be a subject of later debate.

As the article posted suggests, the overall plan will likely end up involving a 4-way method. The first would include a ~200M league loan under a likely new G3-type program . The second would include around 250M to be gained from land development profits, staidum naming rights, concessions income and stadium advertising. The owners are also planning to include upwards of 300M of their own money, a record for any such project. The remaining 200M or so will be left up to the city in the form of bonds, subsidies, and public funds. Overall a total of 750M or so will come from outside sources and future profits and the city gets to own the venue.

[XRaguX]

As the article posted suggests, the overall plan will likely end up involving a 4-way method. The first would include a ~200M league loan under a likely new G3-type program . The second would include around 250M to be gained from land development profits, staidum naming rights, concessions income and stadium advertising. The owners are also planning to include upwards of 300M of their own money, a record for any such project. The remaining 200M or so will be left up to the city in the form of bonds, subsidies, and public funds. Overall a total of 750M or so will come from outside sources and future profits and the city gets to own the venue.

So...No mention of :platoon 86: P&^'s, correct?

Let's hope, Peter & 3rdRow.

[Peter Proud]

Fingers crossed.....but ammo loaded!:hunter: