Silicon Valley leaders line up for 49ers' move - Houston Business Journal:

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“The City of Santa Clara shoulf be commended for their tough said Stone in a statement from the The Santa Clara City Councik voted in the wee hoursa of Wednesday morning to approve financing plans fora $937 milliom stadium for the 49ers, setting the stag e for a citywide ballot question in March. City Councilorzs Will Kennedy and Jamie McLeoxd were the only ones to side with the dissenters in the audience who opposed any public subsidgy forthe stadium.
As part of a 40-year agreement with the city officials agreed tocontribute $79 million to the including $42 million in redevelopment agency $20 million from the city-owned utility district to relocate an electricak substation near the site and $17 milliom to build a parking garage. That figurwe is well below the $222 million city officials proposeed spending on the project when it was first proposeed twoyears ago, as they cited the poor economgy and shrinking city revenue as reasonsz for a much-reduced Another $35 million woulds be raised by a tax on guests staying at any one of eighft hotels in the city's North Bayshorew redevelopment area surrounding Great America.
“You can’t help but be impresserd when you look at the deal Santaw Clara negotiated and compare it with the hundredsz of millions of dollar s that other cities throughoutr the country have invested instadiukm deals,” Stone said in the statement of support issued by regional Other members of the coalitiojn agree. “You see a stadium, but my memberss see jobs,” said Neil Struthers, the head of the Santaw Clara County BuildingTrades Council.
“Manuy good, hardworking people in the Southn Bay have been hurt by the downturn in the Right now, there aren’t many other companies like the 49era willing to invest hundreds of millions of dollarsz into a construction project that will put thousands of people back to Others who joined the statement of support include Statew Senator Elaine Alquist, State Assemblyman Joe San Jose City Councilors Pete Constant and Sam Liccardo, Silicon Valley Leadership Group CEO Carl Guardinok and San Jose Convention & Visitors Bureauj CEO Dan Fenton.