57°
Light fog
SUN
 64°
 51°
MON
 67°
 45°
TUE
 66°
 44°
WED
 62°
 44°
THU
 60°
 40°

Santa Clara OKs final 49ers stadium deals

SANTA CLARA — Final 49ers stadium deals have been approved by the city of Santa Clara, including $100,000 in extra loan money and a 40-year non-relocation agreement.

Council members voted 6-1 on Thursday on behalf of the city and Stadium Authority to approve the six last-minute deals needed before work begins in coming weeks on the $1.2 billion stadium.

The San Jose Mercury News (http://bit.ly/AnVTtC ) says final documents were approved for a bank loan of up to $950 million, a $100,000 hike over the previous estimate.

The deals include a non-relocation agreement with the football team that requires the 49ers to play its home games in Santa Clara for at least 40 years following the expected opening in 2014.

The lease calls on the 49ers to pay the city about $30 million per year.


© The Press Democrat |  Terms of Service |  Privacy Policy |  Jobs With Us |  RSS |  Advertising |  Sonoma Media Investments |  Place an Ad
Switch to our Mobile View