http://www.mercurynews.com/sports/ci_13343870

San Jose council approves report on downtown A's stadium

By Tracy Seipel
tseipel@mercurynews.com
Posted: 09/16/2009 12:00:00 AM PDT
Updated: 09/16/2009 05:24:31 PM PDT

The San Jose City Council on Tuesday unanimously voted to accept an economic analysis that outlines the potential financial impact of a 14-acre baseball park near Diridon Station.

The study by Conventions, Sports & Leisure was prepared in anticipation of the Oakland A's relocating to San Jose. It shows that the development of a 32,000-seat ballpark hosting 81 home games and three non-Major League Baseball events a year would lead to $130 million in annual spending throughout the local economy and $2.9 billion over a 30-year period.

The analysis also shows that a new stadium would create 2,100 full-time, part-time and seasonal jobs in San Jose, of which 980 would be new jobs.

The $130,000 report said the A's would be responsible for financing and building the stadium and financing all stadium operating costs. San Jose is proposing a long-term lease of the city-owned property, some parcels of which have yet to be acquired.

And, the report said, the proposed development would have to generate a "significant economic benefit" to San Jose and have a positive impact on the city's general fund. The analysis shows the estimated annual fiscal return to the city would be $1.5 million in net new general fund revenue, mostly from property and sales taxes.

None of these scenarios, though, will happen unless Major League Baseball decides that the San Francisco Giants, which own the territorial rights to Santa Clara County, must relinquish them. It's unknown when that decision will be made, although a commission appointed by baseball Commissioner Bud Selig is exploring the team's possible options for a new home elsewhere in the East Bay.

A public vote also is required any time the city financially aids any stadium project of more than 5,000 seats.

Prior to the council's action Tuesday, Mayor Chuck Reed held a short news conference at City Hall to discuss the economic analysis. On hand to endorse the proposed stadium were former Mayor Susan Hammer; Santa Clara County Assessor Larry Stone; Pat Dando, president and CEO of the San Jose Silicon Valley Chamber of Commerce; Neil Struthers, CEO of the Santa Clara & San Benito Counties Building & Construction Trades Council; Michael Mulcahy, a leader of the grass-roots coalition Pro Baseball San Jose; and Silicon Valley Leadership Group president and CEO Carl Guardino.