City and County to split $250,000 proposal for consultants and attorneys for new Chargers stadium
SAN DIEGO (KUSI) – The County has joined the effort to help get the Chargers a new stadium.
Money will also be spent to hire a law firm, and investment banker to explore financing options.
The mayor’s Stadium Advisory Group is continuing its work on a financing plant that is due in May.
Mayor Faulconer said this outside advice is critical to the work of the Advisory Group.
“We will bring on the experts to make sure that San Diego taxpayers are getting a good and a fair deal with a proposed new stadium,” he said.
He added, “These expert consultants will assist us in developing possible stadium financing options, advising on related development, legal matters, and improvement on financial issues.”
The Advisory Group had said it had the expertise and resources to do the job.
The consultants, including a law firm will be paid $500,000 for advising the Advisory Group.
“The group and the efforts that we’re doing, the experts will help vet the recommendations that the Advisory Group will be delivering in just a few months,” said the mayor.
“We will also bring on board a well qualified investment banker, and most important we have a unified city and county in this effort,” said Jan Goldsmith.
This show of unity between the city and the county comes a day after three NFL owners applied more pressure on San Diego by calling for a team to be in Los Angeles next year.
The Chargers are a prime candidate, but the mayor and now the county remain focused on Mission Valley, ruling out the Chargers favored site.
“Mission Valley is absolutely the site. That’s where we’re spending all of our time, effort and energy,” said the mayor.
The city and county will split the consultant’s expenses. The county board of supervisors will vote on this partnership in April, and the City Council a week or two weeks later.
“So we can prepare, as a first step, for the negotiations that are clearly coming with the San Diego Chargers. We want to have a positive result,” said Ron Roberts.
Negotiations will be difficult. The Chargers firmly believe there is no path forward at Mission Valley unless there is a mega development there which they do not see happening.
“I would like to see a world class sports, entertainment venue on this Mission Valley site in partnership with SDSU, and in partnership with the San Diego river conservancy,” Dianne Jacob.
The Advisory Group has called for a much smaller development footprint. A mega project would require two-thirds vote which the Advisory Group ruled out.
A statement from the Chargers reads:
“We welcome the involvement of the City Attorney and the county, and look forward to working with the law and investment banking firms that the City Attorney will hire.”