REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Action on Proposed FY 2027/28 Santa Clara Stadium Authority Capital Expense Projects
Report
BACKGROUND
The Stadium Management Agreement (Management Agreement) between the Santa Clara Stadium Authority (Stadium Authority), Forty Niners SC Stadium Company, LLC (StadCo), and Forty Niners Stadium Management Company LLC (ManCo or Stadium Manager) defines the Stadium Operation and Maintenance Plan (SOMP) as the plan designed to achieve a safe and well-maintained Stadium and states that it should include the standards for management and operation of the Stadium, including the required security, staffing, and other required elements of hosting Stadium events. The Stadium Manager is responsible for preparing the SOMP that is presented annually to the Stadium Authority. The SOMP is required to include certain documents, including a Capital Expenditure Plan.
Each year, Stadium Authority staff prepares a proposed Santa Clara Stadium Authority Operating, Debt Service, and Capital Budget for the Stadium Authority's twelve-month Fiscal Year (FY), which begins on April 1 and runs through March 31, in accordance with Article 4 - Records, Accounts, Budgets, and Reports of the Management Agreement. The Stadium Manager is required to submit a Capital Expenditure (CapEx) Plan that includes a five-year projection of anticipated capital expenditures.
The last four years of the Stadium Manager's proposed Five-Year CapEx Plan for FY 2027/28 - FY 2030/31 is included as Attachment 1. The Stadium Manager's FY 2026/27 budget submittal included significant investment in capital expenses proposed in the out-years beyond FY 2026/27. As the tenant of Levi's Stadium, StadCo is also conducting a Facility Condition Assessment (FCA), funded at its expense, to support long-term financial planning, operational efficiency, and structural integrity. The FCA will identify necessary repairs, capital improvements, and compliance requirements while opt...
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