Santa Clara County raises fairness concerns over Earthquakes’ new training facility, public fields at fairgrounds
https://www.siliconvalley.com/2024/11/06/san-jose-santa-clara-county-earthquakes-training-facility/
The Santa Clara County Board of Supervisors has raised concerns about the proposed financial terms with the San Jose Earthquakes that could allow the MLS franchise to build a 35,000-square foot state-of-the-art training facility and four public soccer fields on 26 undeveloped acres at the county fairgrounds.
Under the non-binding term sheet up for discussion Tuesday, the Earthquakes were considering an initial 25-year ground lease with options for 10-year extensions that will pay the county $240,000 in year one with rental payments increasing by 2.55% each succeeding year, equating to $8.25 million over the initial period.
Santa Clara County raises fairness concerns over Earthquakes’ new training facility, public fields at fairgrounds
Wed Nov 6, 8:28pm UTC
https://www.siliconvalley.com/2024/11/06/san-jose-santa-clara-county-earthquakes-training-facility/
> The Santa Clara County Board of Supervisors has raised concerns about the proposed financial terms with the San Jose Earthquakes that could allow the MLS franchise to build a 35,000-square foot state-of-the-art training facility and four public soccer fields on 26 undeveloped acres at the county fairgrounds.
> Under the non-binding term sheet up for discussion Tuesday, the Earthquakes were considering an initial 25-year ground lease with options for 10-year extensions that will pay the county $240,000 in year one with rental payments increasing by 2.55% each succeeding year, equating to $8.25 million over the initial period.