Stadium Watch: What's comes after Chargers' initiative release?
Details of Chargers ballot initiative emerge
SAN DIEGO (KUSI) — Thursday — Now that the Chargers have released their ballot initiative, they must gather signatures in order for the bid to qualify for the November general election.
Chargers will begin asking for signatures from citizens twenty-one days after a public notice is printed in the San Diego Union-Tribune, which is expected sometime this week. If the 67-thousand signatures needed are collected by mid-June, the initiative will be on the November ballot where the decision will be left to voters.
Wednesday 10:10 a.m. — Mayor Kevin Faulconer said in a statement Wednesday that he is evaluating the proposal released by the Chargers for a new $1.8 billion downtown San Diego stadium and convention center annex, but emphasizes that the citizens of San Diego remains his top priority.
"The convention center element makes this proposal more than a stadium and the long term future of San Diego's tourism economy is now intertwined in this plan," Faulconer said.
"But Councilmember Chris Cate believes the plan would put us at a competitive disadvantage to cities such as Los Angeles and Las Vegas.
"Counting on a significant tax increase to fund the construction of this plan, while also reducing marketing and promotional investments, will affect our ability to compete with other markets for tourists and conventions," Cate said in a statement.
Shortly after, Councilmember Scott Sherman also released a statement regarding the Chargers Stadium Proposal:
“Once again, it appears the Chargers have chosen the path of most resistance. At first glance, I am not encouraged.” – Scott Sherman
9:00 a.m. — Chargers stadium consultant Fred Maas explained the details of the ballot initiative Tuesday. What it would take for the ballot to pass was, and continues to be in a state of flux. A ruling earlier this month by the Fourth District Court of Appeal requires tax increases in California to be approved by a simple majority but the ruling is likely to be appealed. According to Mass, the Chargers are operating under the assumption that it will be a 2/3 vote.
The presentation by the Chargers also detailed other plans of the initiative:
The 65,000-seat stadium and convention center annex would be owned by the city of San Diego under a Joint Powers Authority (JPA). The Chargers would be responsible for football-related maintenance and the stadium on game days.The JPA would be responsible for the stadium when not in use by the Chargers and the 385,000 square convention center expansion.
The Chargers would lease the stadium for at least 30 years.
The Chargers plan to pay for the expansion with:
Public funding, coming from a 4 percent hotel tax increase, bringing the tax to 16.5 percent.
$350 million of their own money and a $300 million loan from the NFL
The resulting revenue would pay debt services for bonds on a $600 million convention center annex, $200 million in land and relocation costs and $350 Million in what the team called “integration costs.”
Some of the revenue would be used towards tourism promotion and some money could end up in the city’s general fund.
More answers can be found from the team's FAQ document here, released via the team's twitter account.