Adam Day, the head of Mayor Kevin Faulconer’s Stadium Initiative in 2015 has endorsed the Chargers bid for a stadium in Downtown San Diego. Seeing as there have been numerous setbacks along the way, this is some good news.
Former CSAG chairman Adam Day endorses Chargers Measure C pic.twitter.com/Kw1KEKY7Ge— Scott and BR (@ScottandBR) September 16, 2016
The plan behind the Stadium is that the Chargers and the NFL will use $650 million towards the stadium, with $300 million coming from the NFL ($200 million in relocation benefits for the new stadium, and an extra $100 million to stay in San Diego, and an additional $350 million from the Chargers, including licensing, private seat licenses, and other sources. The left-over 1.15 billion is proposed to come from the sale of Bonds, which cover the cities proposed $350 million contribution, $600 million for the convention center, and $200 million for the land which the convention center/stadium will sit on. The City and the Chargers believe that money can be reimbursed over time with an increased tax on hotel stays (from 10.5% to 16.5%). note: San Diego Union-Tribune said 12.5, but sandiego.gov cited a number of 10.5%. With this method, ideally, the citizens of San Diego will not be paying for the Chargers new stadium, and the majority of the money would come in from people attending football games from out of the area, and attending conventions such as Comic-Con.
The Chargers believe this to be the best way to get a stadium built for them, and those with influence in the City of San Diego are starting to be won of over. Next, the Chargers will have to win over the fans, and citizens of San Diego, to get Stadium Measure C passed.