SAN FRANCISCO (KCBS) – The Santa Clara City Council has approved a construction contract for the San Francisco 49ers’ new stadium that calls on the facility to open in 2014, a year earlier than expected.
The city council voted 5-1 on Tuesday for the $878 million building contract.
The contract means the new, 68,500-seat facility would be ready by August 2014, meaning the franchise that started in San Francisco in 1946 could be gone in two years.
”It’s a very exciting and important step towards making the stadium a reality,” said Santa Clara Mayor Jamie Matthews. “And by approving this contract it will ensure that we’ll have it done by 2014, so football will be played in Santa Clara in 2014.”
KCBS’ Matt Bigler Reports:
The contractor, Turner-Devcon, has an incentive to finish the project early. If the stadium is ready at least a week before the first exhibition game 2014, it will get a $5 million bonus.
However, Turner-Devcon would be fined $6 million for each 49ers game missed after that deadline, plus daily fines that could hit $20 million, according to the newspaper.
The penalties could cause the contractor to lose money on the project.
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