Council and Authorities Concurrent Meeting on 2025-02-25 5:30 PM - Feb 25, 2025

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Santa Clara City Council 6h 8m 9 speakers 8 agenda items transcribed 3 days ago official recording ↗
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What is the opening order and quorum confirmation for the meeting?

Lisa Gillmor 10:54
to order. Confirmation of a quorum, City Clerk? And I think you have some statement to make.
Nora Pimentel 11:02
Yes, thank you, Madam Mayor. Good evening, Mayor and Council. Before going to confirmation of quorum, I'd like to note for the record that this evening, for those that are joining via Zoom, due to technical difficulties, you will not have an image. It's only audio. However, you may watch it through Facebook, YouTube, or Channel 15. Thank you. And yes, Mayor, confirming quorum.
Lisa Gillmor 11:25
Can I ask, Nora, how will people call in or how will they, if they have a question or a comment to make, how will they engage with us?
Nora Pimentel 11:36
So there's the audio still available, so they can still call in. Call in. Yes, they will just not be able to see the presentations or the folks in the chambers.
Lisa Gillmor 11:47
Okay, thank you very much. We will now move, this is a study session, so we are going to move on to our study session, which is item number one, discussion of the proposed Santa Clara Stadium Authority fiscal year 2025-2026 operating debt service and capital budget and stadium authority budget compliance and management policies and marketing plan. City Manager, Executive Director?
Jovan Grogan 12:15
Yes, thank you and good evening Board Chair and Board members. As a reminder for this item, you're sitting as the Stadium Authority Board of Directors. Staff is happy to present the proposed Stadium Authority budget to you tonight. Important to note that this is one of two planned study sessions and so we have a hold on Next Tuesday March 4th in case we need additional time for a study session. We can Continue these discussions on that date And you are scheduled to act on the budget at the very next meeting after that on March 11th And as you know, there are tight time frames within the stadium agreement for review and adoption of the budget also important.
Lisa Gillmor 13:02
Can I interrupt for one second City Manager? So this evening we're going to conclude this study session around 6 45 so we have a little bit of time between that and 7 p.m. to start the regular meeting so just so everyone knows.
Jovan Grogan 13:16
Yes and so anything we don't get to we can
Lisa Gillmor 13:18
get to next Tuesday.
Jovan Grogan 13:19
Absolutely. Also, important context setting for the proposed budget that is before you. The budget is certainly developed in light of the events that are occurring in Santa Clara in 2026. However, the costs for those events are not included within the budget outside of our normal budgeted costs. And as you know, those costs per year Action at the last meeting for the FIFA World Cup are covered by an assignment and assumption agreement and then we are actively working with the 49ers as well as the Bay Area host committee for for coverage of the Super Bowl 60 costs The budget that is before you also fully includes the cost related to the 2014 settlement agreement with MANCO and STATCO. That includes the pay down of the public safety cost balance as of 2024, as well as performance rent flowing to the general fund and additional non-NFL ticket surcharge revenue
Jovan Grogan 14:23
For future public safety costs over the threshold and we'll talk about that in detail through the presentation today It also includes significant Non NFL event revenue and as you saw from our quarterly reports really non NFL event revenue is really at an all-time high projected to be at 9.3 million in the current year 2425 and ended at 8.3 million the prior year and so we'll talk about the projections of those currently projected to be less than that, but we wanna show you the trends where Manco, as you know, typically projects a lower amount and then exceeds that budget. We are continuing to work with them on how the budget is done, but certainly the actual revenue performance is there, and we'll talk through that.
Jovan Grogan 15:12
The budget also describes capital improvement funds. Important to note that the capital improvement reserve includes an allocation of 18.6 million for next year. That will drop the balance to 2.6 million. And so what you'll see in the staff recommendation is an additional million dollars allocated to stadium capital projects, right? Over a billion dollars worth of infrastructure, and we have a very low capital reserve there, and so the need to build that up over time, and there's currently a facility condition assessment going on, and we'll talk a little bit about that.

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