San Francisco could benefit financially if the 49ers relocate to Santa Clara.
City supervisors and economic development staff on Monday discussed the financial implications of holding a spot open in a shipyard redevelopment project for a 49ers stadium.
A football stadium was long heralded by city and private industry officials as an anchor in redevelopment plans centered at the shuttered Hunters Point Naval Shipyard.
But the football franchise has repeatedly snubbed the offer in favor of plans to build a stadium in Santa Clara.
Infrastructure development was planned to be accelerated for the shipyard stadium, but such haste would be unnecessary if alternative plans are pursued to instead build research space at the stadium site.
That could allow infrastructure to be laid more slowly at the waterfront stadium site, which could create financial savings.
Additionally, $100 million in redevelopment profits is being offered to help the 49ers build the shipyard stadium.
“It’s a little bit better financially in the nonstadium alternative,” Mayor Gavin Newsom’s senior economic development adviser Michael Cohen said during a Board of Supervisors Land Use and Economic Development Committee hearing Monday.
But plans to reserve the space for the stadium could prevent the savings from being immediately realized.
“I don’t believe that there is a big pot of money there because we’re holding on to that [stadium] alternative,” Cohen said.
Master developer Lennar Corp. has said that the stadium site will be set aside for the 49ers until 2017 at the latest.
No votes were cast regarding the shipyard redevelopment during Monday’s 2½-hour committee hearing, which served as a warm-up for hearings and votes that are scheduled during the coming weeks and months.
Monday’s committee hearing is scheduled to resume on July 12, according to committee chairwoman Sophie Maxwell.