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County pulls $30 million in 49ers stadium funding

June 24, 2012 | Modified: June 24, 2012 at 6:00 pm
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< p>SANTA CLARA, Calif. (AP) — A California county has surprised both the San Francisco 49ers and Santa Clara leaders by pulling $30 million in tax funds from the new 49ers stadium.

Santa Clara County officials told the Mercury News (http://bit.ly/OaqIBz ) that they would rather spend the money on teachers.

The team and the city say voters specifically earmarked money for the $1.2 billion stadium and that the county has no right to keep it. The newspaper says lawsuits are likely.

A new board that oversees property tax from redevelopment zones was responsible for the sudden revocation. It was so unexpected that city leaders say it violated public notice laws.

Voters approved a 2010 measure that allocated $40 million in redevelopment funds for the stadium, which is set to open in 2014. Construction began in April.

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Information from: San Jose (Calif.) Mercury News, http://www.mercurynews.com