SANTA CLARA — Santa Clara officials are expected to approve a construction contract for the San Francisco 49ers' new stadium that calls on the facility to open in 2014, a year earlier than originally projected.
City officials are scheduled to vote on the $878 million building contract Tuesday, the San Jose Mercury News reported (http://bit.ly/xDGYr0).
It requires construction to begin by July 1 and the stadium to be completed in time to open at the end of August 2014.
The contractor, 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.
If Turner-Devcon completes the stadium in time for the 2014 preseason, it would earn a $5 million bonus.