Chargers study details economic impact of proposed stadium - KUSI News - San Diego, CA

Chargers study details economic impact of proposed stadium

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SAN DIEGO (KUSI) — The Chargers released a study Tuesday detailing the expected economic impact of their proposed downtown stadium convention center annex on San Diego if approved by voters in November.  

The study tracks how many construction and permanent jobs the plan, deemed Measure C on the November ballot, would create. Authored by  Alan Gin, a professor at the University of San Diego's Burnham-Moores Center for Real Estate, and Murtaza Baxamusa, director of planning and development for the San Diego Building Trades Council Family Housing Corp. — the plan also details how the stadium would impact future operations on regional economic output and on labor income.

The Chargers have sought to replace Qualcomm Stadium for years. Local officials had initially offered to build a replacement on the Mission Valley site, but the team rejected the plan in favor of a move to an East Village location near Petco Park.

Measure C, if approved by two-thirds of voters, would raise San Diego's
hotel room tax to help pay for the project, which has an estimated price tag of $1.8 billion. The levy is currently 10.5 percent, with a separate 2 percent fee that funds tourism marketing. Measure C would raise the tax to a total of 16.5 percent.

The Chargers and NFL would kick in a combined $650 million toward the project. Team executives said the combined facility would not only result in a state-of-the-art football stadium, but space that could be used for around 300 days a year.

San Diego Mayor Kevin Faulconer endorsed the initiative after Chargers  executives agreed to cover any cost overrides related to the construction or land purchases, guaranteed that the city's general fund would not be used and, among other concessions, agreed to turn over to the city revenue  generated from non-NFL events.

The team also agreed to repay the city preliminary costs if the Chargers relocate before construction begins and pledge to remain in San Diego until the project's initial debt was paid off.

“This wasn't about the short term of the November election, it was about the long-term protections that we need for decades to come,'' Faulconer told City News Service Monday.

Measure C opponents — including City Councilmen David Alvarez, Chris Cate, and Scott Sherman, along with Councilman-elect Chris Ward and other civic leaders — ratcheted up their campaign Monday and continued to criticize the plan.

“A lot of promises are being made by the Chargers and by others,” Alvarez said. “Talk is cheap — the only thing that matters is what's on the ballot. That is the only thing that's legally binding.”

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