The Santa Clara City Council on Tuesday approved a plan to build a $937 million stadium for the San Francisco 49ers on public land. The deal includes up to $114 million of public subsidies and must be approved by local voters next year.

Under the deal, the Silicon Valley city would build a 68,500-seat stadium to open in 2014. The 49ers would get to move to the heart of one of the richest and most economically dynamic regions in the country and would commit to stay for 40 years.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.