Price Tag Of New 49ers Stadium Up, But Public Cost Down
SAN JOSE, Calif. (AP) — The price tag to build a new home for the San Francisco 49ers in Santa Clara is going up, but it appears the final cost will take fewer taxpayer dollars.
The San Jose Mercury News reports that the final funding plan estimates it will cost $1.2 billion for the new stadium.
The newspaper says the higher cost includes $78 million in loan interest and fees and updated construction estimates.
The funding plan, released Friday, predicts the cost to the public will decline because sales for expensive seat packages are expected to be stronger than anticipated.
The plan also says the 49ers have agreed to pay the bulk of the redevelopment tax money that voters approved in 2010 to help fund the stadium.
On Tuesday, Santa Clara officials are expected to sign off on the final budget, funding plan and lease.
The new facility is expected to open in 2014.
