San Jose Lauds Stadium Plan For Expansion MLS Earthquakes
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Wolff Moves Closer To Building
Soccer Stadium In San Jose |
The San Jose City Council yesterday "blessed an economic analysis" of a plan to build a new $100M soccer stadium for the expansion MLS Earthquakes, according to Joshua Molina of the SAN JOSE MERCURY NEWS. Earthquakes Owner Lew Wolff wants to "rezone industrial and retail land" in Edenvale, California, in order to build 1,300 homes, the sale of which "would help him pay" for a new stadium. The city's economic analysis indicated that the San Jose Redevelopment Agency would earn between $5.4-6.5M annually "if the stadium deal goes through." However, Molina notes building new homes would "suck money out of the city's general fund, already facing a projected deficit of $137[M] in the next four years." San Jose city officials projected that a new stadium would "infuse $62.3[M] a year" into the city's overall economy. But Working Partnerships USA Policy Dir Bob Brownstein said that he is "concerned about the impact to the general fund and urged the city to impose a fee on tickets." Brownstein: "Even $2 a ticket would produce an impact on the general fund equal to half of a serious shopping center, and that would make the project a win-win." City officials will "continue negotiations with Wolff over the proposed stadium site, and the matter is expected to return to the council in June" (SAN JOSE MERCURY NEWS, 3/12).
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