Share the Cost
The Stadium Task Force is ready to dive into a financing project to come up with the money for the new NFL Stadium at the Qualcomm sight for he Chargers.
In a wide ranging set of conversations with different people on the task force, I think I have configured out, how and where the $800M to $1.2 B is going to come from to get this shovel in the dirt at the end of 2016, with an eye towards an opening day in a new stadium in 2019.
Mayor Kevin Faulconer spoke to NFL Commissioner Roger Goodell about the Task Force decision about the Q-sight, and the money needed. The NFL G-Fund would loan San Diego $200M.
Adam Day, head of #CSAG wants the Chargers and Dean Spanos to follow thru on his their commitment to put up 200M of their own money.
Ron Roberts, representing the San Diego County Supervisors, has parlayed ideas of a County Loan, maybe up to $500M.
The San Diego River District, which operates under state funding, has begun the process to seek money for a River-Walk project adjacent to the Q-sight, that becomes part of that development. They have the rights to 52-miles of that river, but a park, and additional parking also, could mean a contribution to the Stadium account.
Creating a 1500-room hotel is part of the plan, that would generate tax revenue.
Creating office buildings, restaurants, and additional shopping malls then creates tax revenue for the prospective pool of money they need.
Building an 8-story parking garage that could be used by SDSU students, fans, and commuters is part of the blueprint.
A new stadium with new concessions could lead to an investment from that business entity to be added into the pot.
An investment from San Diego State towards dorm or academic buildings adjacent to the trolley sight, that connects to campus, becomes another revenue stream.
When you start to list ideas that could create these revenue streams, you can understand why there was optimism from the Task Force at the Thursday press gathering outside the stadium of legendary sports-writer Jack Murphy, who helped lead the drive for the construction of the original stadium.
There are plenty of smart people with global business backgrounds in this group. They have till mid-May to create a blueprint for financing this project.
And while Chargers officials were in Carson as part of the opening day drive to gather signatures for a ballot vote to fast forward that project, it seemed like a typical slap in the face from the NFL team towards this city. Another day where a story broke in Chargerville about efforts to help build a stadium, while the owners representative was off somewhere else doing something at an alternate sight.
The people who want to keep the team in San Diego were at work, hoping to guarantee the franchise has a proposal that wins for them, but more importantly for the city. The owner of the team seems to be sending a different message to his community, and that’s a shame.
But to quote Yogi Berra, it’s not over till it’s over, and the Task Force is not throwing the towel in on the financing game, despite Mark Fabiani’s continued attempts to throw cold water over everything being done in Dean Spanos’ adopted home town..
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