But project opponents were shocked by the price increase and still don't think the public agency will be able to pay off the loan.
The operating lease is the same as what officials had previously planned, with the team controlling the building during the six months of the season and the public agency taking over during the offseason.
Now, however, the team has agreed to changes that will lessen the burden to the public agency. The Niners will pay $30 million of the $40 million previously designated to the city's now defunct redevelopment agency, which had $10 million left before closing.
The final costs include $78 million in loan interest and fees and more refined construction estimates now that contractors have submitted their bids to build the project that will bring the storied football franchise to the South Bay in 2014.
What's more, officials say they will sell enough seat licenses the controversial and costly tool used to grant fans the right to buy season tickets and strike a naming rights deal before the stadium opens. Those revenues are expected to reduce the total loan by $162 to $292 million, depending on how sales go.
"All of these protections and options for us in the future give me really a lot of confidence that we'll be able to handle the debt and it'll be a good thing all the way around," Sparacino said.
In addition, she said they have built several safeguards into the deal.
just an accounting trick, as those sources of revenue have long been known and are only now being counted in light of public outcry.
Partly because fans are expected to gobble up costly seat packages faster than anticipated, the Nike Cap Latest
bulk of the redevelopment tax money that voters approved in 2010 to help fund the stadium. But critics counter it's New Era Arizona Diamondbacks
"It's coming together great," 49ers CFO Larry MacNeil said. That's less than the previous estimate of $850 million plus interest, a record loan that led thousands of residents to sign petitions demanding a new public vote on the stadium.
The city's general budget, meanwhile, will get $40 million in Nike Hat Navy Blue base rent over the 40 years of the lease and an expected $155 million in profit from non NFL events.
The price tag for the San Francisco 49ers' new South Bay stadium has jumped to almost $1.2 billion, but the cost to the public appears to be going down.
So how, then, is the public getting off cheaper?
On Tuesday, city officials are expected to sign off on the final budget, funding plan and lease, completing the 49ers' 5 quest to secure a new home in Santa Clara.
new plan says. And, since the state abolished redevelopment agencies, the 49ers have agreed to pay the Nike Hats For Girls Tumblr
"They talk about all these pie in the sky numbers that they're pulling out of their rear end," said resident Debbie Bress, who recently led a failed legal dispute to stop the project. "Where is the proof that they're going to sell all these big (non NFL) gigs? The Oakland (Raiders) couldn't sell their seat licenses, why do the 49ers think they're going to sell theirs?"
The loan issue has stirred the pot among stadium skeptics since officials announced in December they would borrow $850 million from three major banks to pay for the bulk of the stadium.
But that's not the only new expense added to the ledger for a project that has already jumped from $937 million to more recent estimates of $1.02 billion.
The new figures, unveiled Friday in the project's final funding plan, include pricey new features added just before the stadium's groundbreaking next to Santa Clara's Great America amusement park: There's up to $50 million to bring fans the latest tech experience at the stadium of Silicon Valley.
Team officials aren't saying much about what extra gadgets the extra costs will fund, but they say it will include interactive fan technology that isn't available today but is expected to come out in 2014. They're also funding more infrastructure to make sure fans can call, text and tweet during games, a common problem in sports stadiums, and beefing up concession areas. The 49ers say they will pay any cost overruns.
2 billion for Niners' Silicon Valley stadium
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