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Santa Clara County, Santa Clara Stadium, Levi Stadium discussed on KCBS Radio Afternoon News

KCBS All News |
1 year ago
KCBS All News

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News time five fifty one. Jordan, Bowen editing is our news continues. We continue with our afternoon chat with KCBS and chronicle insider, Phil matere joining us live on the KCBS ring central Newsline. The San Francisco forty Niners of getting a thirty six million dollar tax refund from Santa Clara county this after a county appellate board cut. Property tax the team pays on Levi stadium in half. Phil. Let's let's start by going over the ruling. Well, it was a long and complicated. One usually hearings like this, maybe take two or three days. It was in front of the county appointed appeals board. This one took twenty one days to try to shift through all the paperwork and Dury's corporations and limited partnerships, and this and that involved with the Santa Clara stadium known as Levi stadium, which is managed by the San Francisco forty Niners, but actually owned by the Santa Clara. So the forty Niners basically argued that look we are a team, and we use the stadium for eight to ten games, you know, that's we're gonna count the the preseason games. And we should be charged for what we may cost that the rest goes into the Santa Clara stadium authority that would be the Rolling Stones. The monster truck polls, the college games and everything else Santa Claus. Said no that they read it one way the forty Niners reading another. It went to four this long hearing and the appeals court sided with the forty Niners. So it means a thirty six million dollar refund is on their way plus interest, and plus a tax cut about six million dollars a year going forward in the Senator county assessor is warning that this is going to have significant financial consequences for what the local school district, the west valley community college district. Yeah, I talked with Larry stone the assessor today. And I'm I'm not sure just how that's going to be because how big of a hit that is. Yes, they they are the some of the biggest because they get the money. They're going to have to pay it back instead of the county passes it through. So it goes to the different entities. But he said there's real estate deals in Santa Clara. What you've noticed is pretty hot real estate market. They could help them make up for it. Going forward. How much they're not going to have a for programs that they had wanted to start. I don't think we're going to see schools closing or teachers laid off as a result of this. But it's a hit nonetheless. And it also underscored, you know, these stadium public private partnerships how they work and sometimes they don't work. How people were expecting. You know, like I said the the stadium authority was sent to set up as a joint partnership and the forty Niners and they set up this. They were had their hands. And how the deal was constructed and about three years ago. They came to the assessor and said, look, we think the assessments wrong, and they made their case, and they made their case to a group that supported by the supervisors, and they're not the only ones I mean every couple of years, you know, the San Francisco Giants come in. And and try to get a reassessment on the value there. You don't see that happening over at the Oakland Raiders because the Oakland stadium authority owns that one out and out with no joint partnerships. Thanks for clear that up for us. That's KCBS in chronicle inside. Or film? It's here..