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.
Pingback: Tax Roundup, 6/26/2012: Sports news special! « Roth & Company, P.C