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Now there is new information about what it would take to move the 49ers from San Francisco to the South Bay. Officials in Santa Clara just released details on exactly what they expect from the deal.
The city of Santa Clara posted a lengthy term sheet, which basically outlines the terms between the city and the 49ers.
The devil could be in these details. There are over 20 pages of terms Santa Clara's city manager has hashed out in order to bring the 49ers to the city.
"I think the term sheet that has been negotiated reflects a good partnership between Santa Clara and the 49ers," said City Manager Jennifer Sparacino.
The back and forth between two has lasted two years. This proposal puts more of the burden on the 49ers and less on the city.
Of the $917 million price tag, the 49ers and NFL are responsible for nearly $500 million. The city's redevelopment fund would add $40 million. A new hotel sales tax would be $35 million. Finally, the rest would come from naming rights and ticket sales.
"We have taken on more risk, we are funding a greater percentage of stadium than when we started the process," said 49ers spokesperson Lisa Lang.
The 49ers originally wanted the city to kick in twice as much.
"With the city's investment being even further reduced, it made the deal a lot more doable and a lot more acceptable," said Santa Clara Mayor Patricia Mahan.
"It's completely unreasonable for a private corp. with that kind of value should be standing in front of our city council demanding a subsidy, so we do disagree with any public funding for this stadium," said Bill Bailey from the Santa Clara Plays Fair group.
Opponents like the group Santa Clara Plays Fair don't want any city dollars going toward a new stadium. They'll make that loud and clear before the council votes on the term sheet, Tuesday.
The proposed term sheet will be discussed at a special City Council meeting on Tuesday, June 2. The meeting is open to the public and will be streamed live on the city's Web site.
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