Looks to me like the 49ers are moving to santa clara if they are buying Great America.
That in turn should make San Jose Real Estate even more desirable...If the 49ers relocate to san jose it is a win win
good news for real estate investors and homeowners here in San Jose CA
By: The Associated Press | 09/19/11 6:01 PM
The Associated Press
The owners of the San Francisco 49ers are teaming with a local real estate firm to buy a Santa Clara theme park that had opposed the 49ers' new stadium plans.
The San Jose Mercury News reported the deal by the York family and JMA Ventures on Monday. The $70 million deal to buy Great America is expected to help clear the way for a new football stadium next to the park.
Currently, the city of Santa Clara leases the land the park operates on to Ohio-based Cedar Fair for $5 million a year. Cedar Fair did not support a stadium proposal and sued the city for a loss of parking and other reasons.
JMA Ventures supports a new stadium.
Santa Clara's city council still must approve the purchase.
___
Information from: San Jose Mercury News, http://www.sjmercury.com
Read more at the Washington Examiner: http://washingtonexaminer.com/entertainment/2011/09/calif-theme-park-sale-paves-way-49ers-stadium#ixzz1YhQr5I00
Showing posts with label San Jose Relocation. Show all posts
Showing posts with label San Jose Relocation. Show all posts
Thursday, September 22, 2011
Friday, September 16, 2011
San Jose City Council approves Netflix deal
The San Jose City Council approved a $5 million tax-incentive deal Tuesday with Netflix for the video-rental company to relocate and expand its DVD division to the city.
Netflix is headquartered in Los Gatos and currently leases 250,000 square feet of space in three locations. Los Gatos recently approved a 550,000-square-foot Netflix development project. Under the San Jose deal, Netflix will lease 55,000 square feet of office space at 1732 N. First Street that was formerly occupied by the city's airport administration.
Under the 5-year lease agreement, San Jose will provide Netflix payments equaling half of sales tax receipts from the company's operations in the first year, 40 percent in the second and 30 percent in the third. The incentives are to offset $1.6 million in improvements Netflix plans to make for its San Jose operation, which will employ 225. The company plans to move the DVD division Oct. 1.
One resident, Ross Signorino, questioned why cash-strapped San Jose should give any company a tax break.
But Mayor Chuck Reed and other city officials said the company only gets paid if it provides new revenue to the city. They noted that Netflix had many choices for its relocation and that other cities and states are competing for such business.
Netflix is headquartered in Los Gatos and currently leases 250,000 square feet of space in three locations. Los Gatos recently approved a 550,000-square-foot Netflix development project. Under the San Jose deal, Netflix will lease 55,000 square feet of office space at 1732 N. First Street that was formerly occupied by the city's airport administration.
Under the 5-year lease agreement, San Jose will provide Netflix payments equaling half of sales tax receipts from the company's operations in the first year, 40 percent in the second and 30 percent in the third. The incentives are to offset $1.6 million in improvements Netflix plans to make for its San Jose operation, which will employ 225. The company plans to move the DVD division Oct. 1.
One resident, Ross Signorino, questioned why cash-strapped San Jose should give any company a tax break.
But Mayor Chuck Reed and other city officials said the company only gets paid if it provides new revenue to the city. They noted that Netflix had many choices for its relocation and that other cities and states are competing for such business.
Subscribe to:
Posts (Atom)