The agreement on how to spend future property tax money on the San Francisco 49ers’ new Santa Clara stadium fell apart again yesterday, as the state finance department ruled that it was illegal. Now the whole thing goes back to court, though it’s not entirely clear what settlement is possible, if the state is insisting that any agreement made now — even with the support of the new board in control of property-tax funds — isn’t kosher.
At stake is about $30 million in public funds the 49ers are requesting, but either way the stadium will go ahead. Look you can see it here!
First, it’s $34.4 million ($30 million in principal and $4.4 million in interest) not just $30 million. The 49ers wanted this money over the next 6 years, at a time when all of our gov’t agencies are starved for funds.
Second, the Mercury article makes it sound as if the schools and the 49ers are together in this pickle against the state. That’s not true. The 49ers want the $34.4 million in property tax dollars and they are on the opposite side of the schools/city/county agencies. The state’s denial of the $34.4 million to the 49ers should make that money flow to our public agencies. It’s an ‘either the money goes to the 49ers or it goes where it’s supposed to go to our public agencies’ situation.
Third, the 49ers are tying up the money with a lawsuit. They are responsible for denying this money to our schools/city/county agencies after they campaigned heavily using our schools as pawns in the stadium ballot Measure J.
Fourth, the 49ers have publicly said that they don’t need the $30 million (plus interest) and that the stadium is going ahead with or without that money. From a July 2012 article in California Forward “49er officials have said that the team will absorb the $30 million loss in funds, as it amounts to less than 3 percent of the new stadium’s $1.2 billion estimated cost.”
Fifth, the Oversight Board needs to do its job in protecting our schools/city/county and demand that money instead of caving in to pressure from the 49ers lawsuit. They need to read the law AB1x26 and AB1484 and see that the law is on the side of the schools/city/county agencies receiving that money, not the 49ers.
The 49ers should do the right thing and drop the lawsuit.
The chances of the 49ers dropping the lawsuit are slim and none. They have shown their true colors time and again and feel it’s their right to feed at the public’s expense. The residents of the city were beyond stupid to invite this guest into their homes. It’s also very distressing to see the highly paid district superintendent determined to carry water for the team. Her job is to improve the schools and not to sit on an oversight committee determine to give tax money to a team that will pay no property taxes on their new stadium.
Welcome to the world of Pro sports Santa Clara. When you look into the abyss, the abyss also looks into you…
Parables about frogs and scorpions also seem appropriate here. You will be paying the Yorks to syphon money out of your community for years. Enjoy!
From the article ” redevelopment-related contracts needed to be signed before the Legislature and Gov. Jerry Brown approved a law in June 2011 scrapping redevelopment agencies.”
So does this mean that what ever redev money contract SC city had with the 49ers is still in play? and no new agreements on redev money can be made?
If so, unfortunately for the schools is that the 49ers will get the money regardless and the schools will not. I mean if redev was still around no money from that pot would go to schools anyway.
At least prop 30 passed so that should soften the blow