1) The team has a plan to finance construction of the stadium first and then phase in the housing afterward. Problem is he wouldn’t tell me what that plan was. He said it would take too much time. Remember the stadium costs were supposed to be offset by the housing, retail, hotel, etc.
2) He’s still saying 2012 for completion of the ballpark, but he’s not holding very firm to it. His exact quote was, “In this world, I’m not calling dates anymore.”
3) Wolff says the declining fortunes of the property owner, ProLogis, won’t affect the project. ProLogis has seen its share price plunge from $71.79 to $5.08 over the past year. Wolff said the real estate trust was never going to invest in the project and it’s not asking the team to exercise its option to buy the ballpark site.
4) The Notice of Preparation, which accompanies the final project proposal should be released in the next 30 days. When I asked why it’s been delayed for several months, Wolff said the team wanted to get the Fremont election behind them and see who won.
5) No resolution yet to concerns from Lowe’s and NUMMI about traffic
The Mercury News is going to run a story about stadium funding in the Bay Area this weekend. I suspect we’ll pick it up in The Argus.