November
6, 2011
RE:
Downtown San Jose Ballpark Land
Dear
Friends of Baseball San Jose:
This
Tuesday, November 8, the San Jose City Council will make an important move to
secure many future benefits for our community – including hundreds of jobs and
millions in new general fund revenue – by approving an option for the purchase
of property to a private investment group for a downtown ballpark. The sale option to the Athletics ownership
group will send yet another powerful message that San Jose continues to be
vigilant in its effort to attract the team.
The
Council’s action will further prepare San Jose for the day when Major League
Baseball finally sees the light and approves the move of the Athletics to the
Bay Area’s largest city.
We
want to be clear about three key points:
1. If no
ballpark gets built, San Jose will still own the property. In other words, a $500 million private investment on a ballpark will
have to be made to trigger the sale of the property.
2. The
land would be purchased at a fair market price with private funds in exchange for a $500 million private investment to build a ballpark in our community. According to the highly respected Colliers
International real estate organization, the fair market value for the parcels
being optioned for a ballpark development
is approximately $6.9 million, the same price the Athletics would be required
to pay if the option is exercised.
Despite what the critics contend, this is no “sweet heart” deal taking
money away from libraries and cops.
3. The
economic impact of a privately built ballpark in downtown San Jose is
substantial. According to the
Economic Impact approved by the City Council on September 15, 2009, a privately
built and operated Major League Ballpark will provide:
· 350 new construction jobs for each of the three years of
construction.
· $145 million total net economic impact generated during
construction.
· The primary economic impact will be generated by a minimum
81 home games a year, including $130 million in annual net new total output in
San Jose.
· The estimated annual fiscal return to the City is $1.5
million a year in General Fund revenues.
Please
join us in supporting this action by sharing your views with the Mayor and City
Council. You can help by attending the
meeting on Tuesday, November 8th
at City Council Chambers at
San
Jose City Hall at 200 East Santa Clara Street (between 4th & 6th
Streets). The meeting begins
at
1:30 pm and our agenda item will come up just after the ceremonial items that
kick-off the Council meetings. If you are unable to attend and speak in
person, email the Mayor and City Council Member today! Below is a list of their email contact
information.
Thank
you for your continued support and interest.
Susan
Hammer Michael
Mulcahy
Co-Chair Co-Chair
Email Roster for Mayor and City Council
Members:
