Municipalities frequently use their Redevelopment Agency to funnel public taxpayer money into companies that are good friends with the politicians of that city. The City of Santa Clara is no different as the Stadium Five are planning to use funds from the Santa Clara Redevelopment Agency to help pay for the construction of the San Francisco 49ers Stadium which will be used almost exclusively by the San Francisco Forty Niners, LTD. The term sheet (a non-binding document), currently calls for the Santa Clara Redevelopment Agency to contribute $40 million plus interest and bond servicing costs for bonds that will be issued to initially come up with the money.
