I’m following up on a blog I previously posted about Santa Clara County withholding $30 million from the 49ers stadium project. The San Jose Mercury News, which is doing a very good job on this subject, followed up with its own article indicating the entire funding for the Niners project may be at issue.
Here’s what the article says: “While the money is a tiny fraction of what’s needed for the $1.2 billion stadium, it served as the initial building block to fund the project, similar to a down payment on a mortgage. The tax funds were used to secure up to $950 million in bank loans…If the loans disappear or shrink, they could delay the project – or worse.”
To read the entire article, click here.