We've known since the San Diego Chargers announced that they would be focusing on a downtown stadium plan that we would see documentation from them, and likely some pretty renderings to go with the documentation (for PR purposes!), by March 24th.
This was when they would need to submit a Citizen's Initiative to eventually get it on the ballot this year, and the Chargers cemented that by saying that date was their own deadline as well.
Unsurprisingly, they're sticking to that timeline.
I'm told the Chargers are hoping to release their stadium plan late this week if possible. Their financing team is working around the clock.— Ben Higgins (@BenHigginsSD) March 15, 2016
Based on everything that has come out from the team, Cory Briggs, JMI Realty, Fred Maas, and everyone else associated with a downtown joint-use facility that's tied to noncontiguous convention center expansion, we have a pretty good idea of what this Citizen's Initiative is going to say.
- The Chargers intend to build a joint-use facility on top of the noncontiguous convention center expansion.
- The Chargers intend to pay for said joint-use facility, likely with a loan from Goldman Sachs.
- The Citizen's Initiative would increase San Diego's TOT, paving a way for downtown hoteliers to put money into expanding East Village with a noncontiguous convention center expansion that would act as the "foundation" of a joint-use facility.
- Based on the very early complaints (included with possible solutions to those issues) by Comic-Con, we can assume it will account for those issues with solutions that Comic-Con can be agreeable to.
This plan will be very easy to sell for those collecting signatures, and just as easy to sell to the voters. Here's why:
- Comic-Con will (eventually) say it's the clearest path to expanding the convention center and keeping them in town.
- The Chargers will be able to say that not a single tax-payer dollar went into the building of their joint-use facility, which will be used for more than just NFL games.
- The Mayor will be able to take some credit for "revitalizing downtown San Diego", keeping Comic-Con, keeping the Chargers, and not raising taxes on San Diegans.
- The people voting for this won't be the ones paying the taxes. It's really easy to spend someone else's money, right?
Oh, also, the renderings will be pretty. You can count on that.
So, are you ready to get swept up in "new Chargers stadium mania" one more time next week?