REPORT TO STADIUM AUTHORITY BOARD
SUBJECT
Title
Bills and Claims for the month of March 2018 (Stadium Authority)
Report
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 they are in compliance with the goods or services provided.
The Bills and Claims listing represents the cash disbursements required of normal and usual operations during the period. Budget control is set by the Stadium Authority Board through the budget adoption process.
DISCUSSION
Significant expenditures in this time period include:
* Payment to Forty Niners SC Stadium Co. (StadCo) of $22,881,961 for the StadCo Subordinated Loan (Subloan). This includes interest, the minimum required principal payment, and a principal prepayment due to excess revenues available and required to be paid to the Subloan per the Amended and Restated Stadium Lease Agreement.
* Payment to Forty Niners Stadium Management Co. (ManCo) in the amount of $1,762,718 for stadium operations costs such as staffing, supplies, equipment, insurance, utilities, base management fee, and use of tenant improvements.
* Three payments to the City of Santa Clara totaling $87,883 for reimbursement of General and Administrative (G&A) staff time (such as City Manager's Office, City Attorney, Finance.)
* Payments to various vendors of $81,190 for the following capital expenses that are part of the 2017-18 CapEx Plan: (1) propane tank storage, (2) signage, (3) public safety equipment, (4) fire sprinkler system, and (5) miscellaneous work.
* Payment to Turner/Devcon JV of $52,049 for work related to warranty items at Levi's Stadium.
* Various payments to two separate consulting firms in the total amount of $21,600 as part of the stadium community engagement efforts.
* Payment to Wilson Ihrig & Associates of $4,603 for acoustic monitoring services around the stadium.
ENVIRONMENTAL REVIEW
The action being considere...
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