New 49ers Stadium Clears Final Financial Hurdle

Law360, New York (March 14, 2012, 6:23 PM EDT) -- The city of Santa Clara, Calif., on Tuesday approved the lease, budget and overall plan for the San Francisco 49ers' proposed $1 billion, 68,500-seat stadium, clearing what is most likely the final hurdle to the project's construction in time for the start of the 2014 football season.

The City Council voted 6-1 to approve the plan, whose cost has grown from $937 million to nearly $1.2 billion since its introduction. 

Under the plan approved Tuesday, the Santa Clara Stadium Authority, a city agency created to handle...
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