The proposed 49ers stadium won't be a magical fix for Santa Clara's general fund deficit – forecast to reach nearly $5 million this year and grow to over $18 million in 2013-2014.
Both sports industry consultant CS&L International and real estate advisory firm Keyser Marston Assoc. conservatively estimate $700,000 annually in additional revenue for Santa Clara general fund revenue from a 49ers stadium. A more generous estimate is the $2.4 million that San Francisco brings in today in taxes from the football team.
However, regardless of which number you use, even the most optimistic estimates barely makes a dent in the City's growing deficit, shown in the following chart. Regardless of the proposed stadium's merits of in terms of economic growth and civic pride, Santa Clara must look elsewhere for solutions to its budget woes.
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| Sources: Evaluation of 49ers Economic and Fiscal Benefits Study, Santa Clara City Manager, June 5, 2007; City of Santa Clara Proposed Five-Year Plan, May 18, 2010; " NFL dangles Super Bowl as Santa Clara stadium reward," www.fieldofschemes.com, May 3, 2010. |
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