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File #: 18-633    Version: 1 Name:
Type: Consent Calendar Status: Agenda Ready
File created: 5/4/2018 In control: Council and Authorities Concurrent Meeting
On agenda: 7/17/2018 Final action:
Title: Action on Bills and Claims for the month of May 2018 (Stadium Authority)
Indexes: SA
Attachments: 1. 2018-05 SCSA Bills and Claims.pdf
Action on Bills and Claims for the month of May 2018 (Stadium Authority)

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 represent 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.

Significant expenditures in this time period include:
* Payment to Forty Niners SC Stadium Co. (StadCo) of $4,966,128 for the StadCo Subordinated Loan (Subloan). This includes interest and a principal prepayment due to excess Stadium Builder License (SBL) proceeds.
* Payment to Forty Niners Stadium Management Co. (ManCo) in the amount of $1,129,131 for stadium operations costs such as staffing, supplies, equipment, and utilities.
* Payment to StadCo of $901,936 for the Community Facilities District (CFD) Advance (StadCo loaned the Stadium Authority $35 million which is to be repaid solely by CFD hotel taxes).
* Payment to Stadium Funding Trust in the amount of $419,842 for Term A debt service which includes interest and a principal prepayment due to excess SBL proceeds.
* Two payments to the City of Santa Clara totaling $47,410 for reimbursement of General and Administrative (G&A) staff time (e.g.: City Manager's Office, City Attorney's Office, Finance Department).
* Payment to Public Dialogue Consortium of $12,118 for stadium community engagement efforts.

The action being considered does not constitute a "project" within the meaning of the California Environmental Quality Act ("CEQA") pursuant to CEQA Guidelines section 15378(b)(4) in that it is a fiscal activity that does not involve any commitment to any specific project which may result in a potential signi...

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