49ers Stadium in Santa Clara: County Pulls Tax Funds for Project

For a deal as large as the proposed 49ers stadium in Santa Clara to go through, issues and speed bumps are bound to be encountered. Well, on Friday, that certainly happened, as the Santa Clara County board designated with overseeing property taxes from redevelopment zones voted 4-3 to pull back $30 million in funding previously promised to the 49ers stadium project. County Officials told the Mercury News that the money would instead be spent on teachers.

NinersNation's David Fucillo explains:

As I understand it, the 49ers were covering the $30 million and then they would subsequently be reimbursed by the redevelopments funds. Redevelopment funds have been a source of contention throughout California after the state scrapped the agencies in one of many attempts to clean up the state's budget mess. According to the San Jose Mercury news report, county tax collector George Putris proposed the motion and got a quick vote approving it. Putris stated that the need for these funds was greater at other public agencies, such as school districts.

The move comes as a big surprise to both the team and the City of Santa Clara. Per the AP, "a 49ers spokesman declined to comment when asked whether the decision could affect stadium construction, which began in April. Officials have said the team would simply absorb the cost if it loses the funds, which amount to less than three percent of the stadium's total price tag."

To talk about the 49ers and their new stadium, head on over to Niners Nation.

Trending Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SB Nation Bay Area

You must be a member of SB Nation Bay Area to participate.

We have our own Community Guidelines at SB Nation Bay Area. You should read them.

Join SB Nation Bay Area

You must be a member of SB Nation Bay Area to participate.

We have our own Community Guidelines at SB Nation Bay Area. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.