An exerpt from an article:
By Mike Swift and Julie Patel, Mercury News
The San Francisco 49ers aren't just proposing to amplify Santa Clara's entertainment district with an $854 million stadium near Great America. The team's proposal also would enlarge the city's government.
The San Francisco 49ers aren't just proposing to amplify Santa Clara's entertainment district with an $854 million stadium near Great America. The team's proposal also would enlarge the city's government.
A key element of the 49ers' stadium proposal would be to create a Santa Clara Stadium Authority, an arm of the city that would own and operate the 68,500-seat stadium, with a projected staff of 69 full-time and 1,753 game-day employees. The authority would control revenue from taxes collected on stadium tickets and parking, the sale of naming rights, and "Stadium Builder Licenses" that would bestow permanent rights to buy season tickets.
Most significantly, to build the stadium, the authority would sell more than $330 million in bonds and pay them back with revenues from the stadium, which the 49ers want to christen for the 2012 season. The authority would run the stadium and share the profits with the city's general fund if the stadium were successful in booking concerts, soccer games and other non-NFL events.
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