County Pulls $30 Million in 49ers Stadium Funding
SANTA CLARA, Calif. (AP) — A California county has surprised both the San Francisco 49ers and Santa Clara leaders by pulling $30 million in tax funds from the new 49ers stadium.
Santa Clara County officials told the Mercury News that they would rather spend the money on teachers.
The team and the city say voters specifically earmarked money for the $1.2 billion stadium and that the county has no right to keep it. The newspaper says lawsuits are likely.
A new board that oversees property tax from redevelopment zones was responsible for the sudden revocation. It was so unexpected that city leaders say it violated public notice laws.
Voters approved a 2010 measure that allocated $40 million in redevelopment funds for the stadium, which is set to open in 2014. Construction began in April.