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49ers Stadium Development Agreement, Preliminary Financing Review at Dec. 6 Council Meeting

Come New Year’s Day 2012, the 49ers stadium project will start moving ahead at a notably faster pace. So, despite the many demands of the holiday season, attentive residents will want to take some time out to review some important milestones in the nearly $1 billion project at upcoming public meetings.

First, city staff plans to deliver an early Christmas present to the Santa Clara Stadium Authority (the Santa Clara City Council) on Dec. 13: an approval-ready Disposition and Development Agreement (DDA) for the proposed stadium. The DDA is not yet complete, but is expected to be available the first week of December.

That’s when the City Council will hold two study sessions – Tuesday Dec 6, 2011 and Thursday Dec 8, 2011 at 7:00 pm – to present and review the agreement. The discussion will cover project activity to date, and the key points of the DDA, lease summary, and preliminary financing structure. On Dec. 6 the Council will also vote on the proposed sale of the Great America theme park to JMA Ventures.

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The city begins accepting bids on Dec. 14 for make-ready construction beginning in January 2012. A significant part of this work includes relocating utilities to the site perimeter, outside the stadium footprint – a $12 million job. The specifications and bid requirements are laid out in the 357-page project manual, which is available at sireweb.santaclaraca.gov/view.aspx?cabinet=published_meetings&fileid=589382.

Stadium project documents are available online at santaclaraca.gov/index.aspx?page=1197, at the city library, and at the City Clerk’s office.

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