49ers hope to build sports, entertainment complex
■ nri~ san rrancisco voters
need to approve a $100
million lease-revenue bond in
order to build
The Associated Press
SAN FRANCISCO — The San
Francisco 49ers have unveiled
plans for a 75,000-seat stadium
that club president Carmen Poli
cy bills as the “premier facility for
the premier franchise in the pre
mier city.”
The stadium at Candlestick
Point would be the cornerstone of
d million sports and enter
tainment complex, and the most
expensive private development in
San Francisco history, according
to the San Francisco Examiner,
which reported Policy’s plans
Sunday.
Planned for completion by fall
of the year 2000, the project also
would be the first time a profes
sional sports franchise has incor
porated a retail-entertainment
complex of such magnitude.
Policy said the stadium would
resemble Ericsson Stadium in
Charlotte, N.C., home of the Car
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He said the team and Mayor
Willie Brown decided to build a
new stadium rather than pump
city money into fixing Candle
stick Park, which opened in 1960.
“It will be the best deal in the
NFL...” Policy said.
But before building anything,
the 49ers must win voter approval
June 3 of a $100 million lease-rev
enue bond issue, along with a city
charter revision permitting the
ambitious proposal.
The bonds would be paid with
sales and property taxes generat
ed by the project, and city taxpay
ers could be stuck with the bill if
the project doesn’t produce the
money proponents envision.
The project already has some
skeptics.
“Getting the public to believe
it’s not going to cost any money
out of its pockets is a fool’s er
rand,” said Assemblyman Don
Perata, D-Oakland, who was
among those who brokered the fi
nancially troubled deal that
brought the Raiders back to Oak
land.
In addition, a group called The
Committee to Stop the Giveaway,
created in 1992 by residents who
wanted to stop San Francisco
from granting subsidies to the Gi
ants, has announced it will battle
the 49ers stadium with a retroac
tive ordinance banning any use of
city finances and other resources
by a privately owned stadium.
The first step in the process is
expected Monday, when Supervi
sor Amos Brown will submit to
the Board of Supervisors a pro
posal to place the $100 million
bond measure on the ballot.
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