Monday, August 2, 2010

The 49ers' Stadium Subsidy: How to Buy an Election, Part 2

Dear Santa Clarans,

We filed our campaign statement today with the City Clerk, and with that, we owe you many thanks for your support.

Santa Clarans contributed nearly $19,000 to Santa Clara Plays Fair in the first half of 2010.

They contributed $35 to the Astroturf group.

But that sure didn't stop the Astroturfies - they turned right around took
$4.427 MILLION from the York family and the 49ers. That's San Francisco money anyway you slice it.

As staggering a sum as that is to buy an election, it's actually good business for the Yorks because they just walked away with a $444,000,000 pot. That's the total that Santa Clara's public agencies will contribute or raise for a $1 billion stadium which benefits the 49ers - and Santa Clara barely at all.

In the coming weeks, those subsidies will be locked in with the Disposition and Development Agreement, or DDA. That's the binding contract which gives away the store, and it does that by incorporating the worst parts of the Term Sheet of last June 2nd.

We urge Santa Clarans to get involved. If you have questions about the Term Sheet and where the stadium subsidy is going next, please ask away. The city's own documents and Council Agenda Reports tell the whole story.

Thanks and best regards,
Bill Bailey, Treasurer