San Francisco Braces For Financial Hit When 49ers Move To Santa Clara
SAN FRANCISCO (KCBS) - The pending departure of the San Francisco 49ers to Santa Clara is already causing something of a financial headache within the City's Recreation and Parks Department, as it begins work on a new two-year budget.
The Department's revenue is expected to be whittled down by $3.4 million as a result of the football franchise's absence, which could happen as early 2014, when the 49ers hope to be playing in their new stadium in Santa Clara.
SF Rec and Park Braces for Big Financial Hit When 49ers Move to Santa Clara
"First solution, which the Department is adamantly opposed to, would be to decrease programs and services that we deliver," warned Katie Petrucione, Director of Finance, at a Rec and Parks commission meeting Thursday.
At the meeting, it was also suggested that the department could raise fees for programs and use of park facilities, or get more money from the City's General Fund.
"We have just now begun to have these conversations with the Mayor's office," said Petrucione. "I don't expect that we're going to have a solution to this particular problem before we submit our budget."
Even with the forecasted revenue fall, San Francisco's overall financial picture was described Thursday as healthy enough that no layoffs were anticipated at the Recreation and Parks Department in the coming year.
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