The recent stadium financing scheme announced by the City of Santa Clara last week has drastically strayed from what was originally promised to residents. $850 million in loan guarantees for a city that can’t even afford to keep its library open on holiday weekends! This plan will place the city’s future financial footing on increasingly tenuous ground.
No one should trust the city council or city staff that this is going to come out right for Santa Clara. They have clearly shown their allegiance is to the 49ers not towards caution and fiscal sanity. We deserve a re-vote, this time with an honestly written ballot measure that fully discloses costs and a campaign that this time places strict spending limits on the 49ers.