REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Stadium Authority Bills and Claims for the Month of January 2025
Report
BOARD PILLARS
Enhance Community Engagement and Transparency
Ensure Compliance with Measure J and Manage Levi's Stadium
BACKGROUND
Disbursements made by the Stadium Authority are based on invoices submitted for payment. Prior to payment, staff reviews all disbursement documents to ensure that the invoiced goods or services have been provided.
The Bills and Claims listing represents the cash disbursements required of normal and usual operations during January 2025. Budget control is set by the Stadium Authority Board through the budget adoption process.
DISCUSSION
At its March 12, 2024 meeting, the Stadium Authority Board adopted the Santa Clara Stadium Authority Fiscal Year 2024-25 Operating, Debt Service, and Capital Budget which runs from April 1, 2024 to March 31, 2025.
In May 2024, the Board and City Council accepted terms for a settlement of longstanding disputes with the 49ers over Stadum Authority obligations (2024 Settlement Agreement). To implement the terms of this settlement, the consent of the National Football League (NFL) and Stadium Lenders approving amendments to the Stadium Lease and Ground Lease were required. On December 28, 2024, all required consents were received making the 2024 Settlement Agreement final and effective.
Among other terms, the 2024 Settlement Agreement allowed the Stadium Authority to make the following payments from its legal contingency reserve which were both made in January 2025:
* $7.3 million to the City of Santa Clara for FY 2022/23 and 2023/24 Performance Based Rent
* $3.3 million to the Forty Niners SC Stadium Company, LLC (StadCo) to pay down the Public Safety Costs 2024 Outstanding Balance
Significant expenditures (greater than $5,000) paid in January 2025 include:
* Payment totaling $18,678.04 to Canyon Oaks Ventures LLC for consulting work on the Stadium Market and Trend Anal...
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