The 49ers' Stadium Subsidy: Want to See for Yourself if Santa Clara Taxpayers are Really Protected under Measure J? - The Taxpayer Protections Myth

Dear Santa Clarans,


The Stadium Boosters trumpet their so-called "Ironclad Taxpayer Protections" in Measure J - but they are anything but. Please check your voter Sample Ballots for:

Section 2. Purposes and Findings, Part 2B2 Taxpayer Protections:

"An affiliate of the San Francisco 49ers....will also be required to pay operating expenses of the Stadium to the extent these expenses exceed the Stadium Authority's operating revenues."

Sounds good - if it were true.

As it turns out, the Term Sheet that the Stadium Boosters are using to pad Measure J states as follows, in Section 9.1:

"...49ers Stadium Company will have the right to reasonably identify the costs and expenses in the Annual Stadium Operating Budget that will be included in Reimbursable Expenses and, therefore, be subject to 49ers Stadium Company Reimbursement."

In other words: It's only reimbursable to the Stadium Authority if the San Francisco 49ers - alone - agree to reimburse it.

What kind of "ironclad" protection is that? Virtually none at all, if a "sick" Stadium Authority has no other recourse than to go back to the City of Santa Clara for more subsidies.

Add to this the $67,000,000 loss to our General Fund caused by the stadium subsidy from the RDA - and you simply do not have real "taxpayer protections."

For real taxpayer protection: Vote NO on Measure J.



Thanks and best regards,

Bill Bailey, Treasurer

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