49ers Sacked by Santa Clara County

The San Francisco 49ers want a new stadium instead of playing at Candlestick Park. And in 2010 voters in Santa Clara approved the financing of a stadium. However, a monkey wrench was thrown into the plans last week when Santa Clara County eliminated $30 million in funding for the stadium. The funding for the stadium included $40 million from redevelopment agencies; the total cost of the stadium is estimated at $1.2 billion. The $30 million is from property taxes out of redevelopment zones.

City of Santa Clara officials claim the vote was done in spite of public notice laws. The only certainty is that lawsuits are sure to follow.

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This entry was posted on Monday, June 25th, 2012 at 7:45 pm and is filed under California, Property Taxes. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “49ers Sacked by Santa Clara County”

  1. Tax Roundup, 6/26/2012: Sports news special! « Roth & Company, P.C says:
    June 26, 2012 at 6:18 am

    […] Santa Clara County vs. the San Francisco 49ers: The Battle for Stadium Financing (Tax Policy Blog).  A county decides that a team owned by millionaires that employs millionaires isn’t the most pressing community need.  See, was that so hard?  Sadly, it’s too late for Minnesota.  Russ Fox has more. […]