November 27, 2015
In an effort to raise $200 million dollars to fund a new Chargers stadium, the city of San Diego plans to sell lease-revenue bonds, using city buildings as collateral to borrow money. San Diego is one step closer to this reality as the Fourth District Court of Appeals approved this financing method this past week.
However, the NFL is concerned that there will be legal challenges in both the environmental review and the rent costs for the Chargers. San Diego city officials are currently responding to the NFL and citing the recent court approval as a strong point to make their case for the new grounds.
Whether or not the city gets to exercise this method for the stadium, it will sell $270 million in lease-revenue bonds for infrastructure projects over the next three years.