Bill Authored To Reallocate Lost Funding For 49ers Stadium
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SANTA CLARA (KCBS) – The battle over $30 million in funding for the new San Francisco 49ers stadium in Santa Clara has taken a new twist as a state legislator has authored a bill that would reallocate funds to the project.
Using a legislative maneuver known as gut and replace, state Senator Elaine Alquist of Santa Clara has taken an existing bill dealing with teacher credentialing and rewritten it to help the 49ers. SB 1245 would reallocate $30 million in disputed redevelopment money to the project.
KCBS’ Matt Bigler Reports:
Last month, a Santa Clara County oversight board decided to take that money and give it to local schools.
Santa Clara Mayor Jamie Matthews said the funding battle should not affect stadium construction, but it could impact their ability to pay back their bank loans.
“We want to get our construction loan paid off as soon as possible. The faster we can pay it off, the better,” said Matthews. “This is something that was entered into in 2009, voted on by the voters and is legally binding. We want to ensure that we can fulfill the will of the voters and get this thing done.”
Alquist’s bill is expected to be taken up by the Legislature next week.
The $1.2 billion stadium is scheduled to be completed in time for the 2014 National Football League season.
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