| Santa Clara City Council Approves 49ers Stadium Hotel Tax | | |
The Santa Clara City Council voted yes on two crucial developments Tuesday night, giving the nod to a hotel tax if a proposed 49ers stadium is built and on the development of a massive new Yahoo complex. In a 5-2 vote, the council agreed to create a tax district of eight hotels where guests would pay an additional 2 percent tax on the cost of the room, with the extra money going to help pay for the 68,500-seat stadium. That's on top of the current transient occupancy tax of 9.5 percent already levied to guests of any hotel in the city. Economic study reports show the tax would likely generate $35 Million, which would go toward the stadium. An additional $79 Million of public contributions are earmarked for the project, and the team and the National Football League say they are putting in about $493 Million and the Santa Clara Stadium Authority is putting in about $330 Million.
Source: San Jose Mercury News
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