Agenda packet — City Council and Authorities Concurrent, February 25, 2025 (part 1 of 7)

City of Santa Clara
Joint Meeting Agenda of the
City Council and Authorities Concurrent &
Santa Clara Stadium Authority Board
Hybrid Meeting
City Hall Council Chambers/Virtual
1500 Warburton Avenue
Santa Clara, CA 95050
5:30 PMTuesday, February 25, 2025
The City of Santa Clara is conducting City Council meetings in a hybrid manner (in-person and continues to have methods for the public to participate remotely). • Via Zoom:
o https://santaclaraca.zoom.us/j/99706759306
Meeting ID: 997-0675-9306
o Phone 1(669) 900-6833
How to Submit Written Public Comment Before City Council Meeting:

1. Use the eComment tab located on the City Council Agenda page (https://santaclara.legistar.com/Calendar.aspx). eComments are directly sent to the iLegislate application used by City Council and staff, and become part of the public record. eComment closes 15 minutes before the start of a meeting.

2. By email to [email protected] by 12 p.m. the day of the meeting. Those emails will be forwarded to the Council and will be uploaded to the City Council Agenda as supplemental meeting material. Emails received after the 12 p.m. cutoff time up through the end of the meeting will form part of the meeting record. Please identify the Agenda Item Number in the subject line of your email.

NOTE: Please note eComments and Emails received as public comment will not be read aloud during the meeting.

Agendas, Staff Reports and some associated documents for City Council items may be viewed on the Internet at https://santaclara.legistar.com/Calendar.aspx All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the legislative body will be available for public inspection at the Office of the City Clerk at Santa Clara City Hall, 1500 Warburton Avenue, Santa Clara, CA 95050 at the same time that the public records are distributed or made available to the legislative body. Any draft contracts, ordinances and resolutions posted on the Internet site or distributed in advance of the Council meeting may not be the final documents approved by the City Council. For the final document, you may contact the Office of the City Clerk at (408) 615-2220 or [email protected].

City of Santa ClaraCity of Santa Clara Page 1 of 11 Printed on 2/21/2025 Meeting Agenda February 25, 2025

CONSENT CALENDAR
[Items listed on the CONSENT CALENDAR are considered routine and will be adopted by one motion. There will be no separate discussion of
the items on the CONSENT CALENDAR unless discussion is requested by a member of the Council, staff, or public. If so requested, that item will be removed from the CONSENT CALENDAR and considered under CONSENT ITEMS PULLED FOR DISCUSSION.]

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5:30 PM STUDY SESSION
Call to Order in the Council Chambers
Confirmation of Quorum

1. Discussion of the Proposed Santa Clara Stadium Authority Fiscal Year 2025/26 Operating, Debt Service and Capital Budget and Stadium Authority Budget, Compliance
and
Management Policies, and Marketing Plan
25-102
Review and provide input on the Proposed Santa
Clara Stadium Authority Fiscal Year 2025/26
Operating, Debt Service, and Capital Budget,
Proposed Stadium Authority Budget, Compliance and
Management Policies, and 2025 Levi’s Stadium
Events Marketing Plan.

Recommendation:
7:00 PM JOINT CITY COUNCIL/STADIUM AUTHORITY BOARD MEETING Call to Order in the Council Chambers
Pledge of Allegiance and Statement of Values
Roll Call

REPORTS OF ACTION TAKEN IN CLOSED SESSION MATTERS

CONTINUANCES/EXCEPTIONS/RECONSIDERATIONS

SPECIAL ORDER OF BUSINESS

2.A 25-210

2.B 25-201

2.C
Recognition of Wilcox High School Team earning First Place at the California Council on Economic Education’s Financial Advisors Contest
Proclamation of NO MORE
Week from March 2, 2025 to March
8, 2025
Proclamation of Divorce with Respect Week from March 3, 2025 to March 9, 2025
25-217
Study Session - 5:30 PM | Regular Meeting - 7:00 PM
Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.A Action on the February 11, 2025 Joint Council and Authorities Concurrent & Stadium Authority Meeting Minutes.
25-281
Approve the meeting minutes of the February 11,
2025 Joint Council and Authorities Concurrent &
Stadium Authority Meeting.

Recommendation:

3.B Board, Commissions and Committee Minutes25-04
Note and file the Minutes of:

Historical and Landmarks Commission - October 3,
2024
Parks & Recreation Commission - January 13, 2025
Senior Advisory Commission - January 13, 2025
Youth Commission - January 14, 2025
Planning Commission - January 15, 2025
Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.C Action on Monthly Financial Status and Investment Reports for November and December 2024 and Approve
the Related
Budget Amendments
25-100

1. Note and file the Monthly Financial Status Reports
and Monthly Investment Reports for
November and
December 2024 as presented; and

2. Approve the FY 2024/25 Budget Amendments in
the following funds (as detailed in the Fiscal Impact
Section of the staff report and Attachment 5 to the
staff report):
a. In the General Fund, with a net impact of
$357,940;
b. In the Fleet Management Fund, with a
net impact of $153,950;
c. In the Information Technology Services
Fund, with a net impact of $0;
d. In the Prefunded Plan Review Fund, with
a net impact of $135,600;
e. In the Public, Educational, and
Governmental Fee Fund, with a net
impact of $0;
f. In the Special Liability Insurance Fund,
with a net impact of $0; and
g. In the Streets and Highways Capital
Fund, with a net impact of $706,676.

Recommendation:

3.D Action on the Santa Clara Convention Center FY 2024/25 1st Quarter Financial Status Report
25-1102
Note and file the Santa Clara Convention Center
Financial Status Report for the 1st Quarter
ending September 30, 2024, as submitted by Oak
View Group.

Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.E Action to Authorize the City Manager to Execute an Agreement with Santa Clara Pacific
Associates L.P. (“Developer”) for the
Installation and Operation of Private Recreational Amenity Improvements to Satisfy a Portion of Developer’s Parkland Obligations for the 200 Affordable Unit Apartment Project located at 80 Saratoga Avenue, such Improvements to be
Funded at Developer’s Sole Cost
25-92
Authorize the City Manager to negotiate and execute
the agreement with Santa Clara Pacific Associates
L.

P. for the installation of Private Recreational
Amenity Improvements at 80 Saratoga Avenue at the
Developer’s Sole Cost on substantially the terms and
in the forms presented, with such minor,
non-substantive changes and amendments that may
be necessary to implement the parkland dedication
requirements for this project, in final forms approved
by the City Attorney.

Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.F Action to Authorize the City Manager to Negotiate and Execute Amendment No. 2 to
the Agreement with National Car Charging,
LLC for Electric Vehicle Charging Installations to Extend the Term Through December 31, 2026
25-462

1. Determine that the proposed actions are
categorically exempt from CEQA pursuant to
Section 15303 New Construction or Conversion of
Small Structures) of Title 14 of the California Code
of Regulations;

2. Authorize the City Manager, or designee, to
negotiate and execute Amendment No. 2 to the
Agreement with National Car Charging, LLC for
EV charging installations to extend the term
through December 31, 2026, with no change to the
maximum compensation, subject to the review and
approval as to form by the City Attorney; and

3. Authorize the City Manager, or designee, to take
any actions necessary to implement and
administer the Agreement as amended, including
negotiating and executing future amendments to
add or delete services consistent with the scope of
services that do not extend the term or increase
the maximum compensation, to be funded by the
Silicon Valley Power Capital Fund, as applicable
and subject to the appropriation of funds and the
review and approval as to form by the City
Attorney.

Recommendation:

3.G Action on 2025 Legislative Advocacy Positions24-1091 Adopt the 2025 Legislative Advocacy Positions on
Broadband, Cable Services, and Wireless
Telecommunications Facilities; Community Services;
Emergency Management; Energy Legislation,
Regulations and Issues; Housing; Human Resources
and Public Sector Employment; Public Safety;
Regional Issues and Collaboration; Sustainability and
Environmental Protection; Transportation Issues; and
Water Supply and Conservation in the form presented.

Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.H Action to Approve Various Modifications to Existing Classified Classification Specifications, Authorize the
City Manager to
Execute the Side Letter Agreement between the City of Santa Clara and the American Federation of State County and
Municipal Employees (Unit 6), and Adopt a Resolution Updating the Classified Salary Plan
25-148

1. Approve various modifications to the classification
plan, as follows, as detailed in the corresponding
Class Specification attachments:
a. Approve the Modifications to the
Engineering Aide Series (retitled to
Engineering Technician series), Job Codes
460, 460A, 460F, 745, 670, and 670A
b. Approve the Modifications to the Police
Training Coordinator specification, Job
Code 648
c. Approve the Modifications to the Grounds
Maintenance Worker Series, Job Codes
480, 485, and 490
d. Approve the Addition of Terminal
Classifications in the Grounds Maintenance
Worker Series, Job Codes 480A, 485A,
and 490A.
e. Approve the Deletion of the Cemetery
Worker Series, Job Codes 290, 295, and
300
f. A p p r o v e t h e D e l e t i o n o f t h e
Building/Housing Inspector Classification,
Job Code 254

2. Authorize the City Manager to execute the Side
Letter Agreement between the City of Santa Clara
and the American Federation of State County and
Municipal Employees, Local 101 (Unit 6) that
modifies the class specifications for the Grounds
Maintenance Worker series; and

3. Adopt a Resolution to approve the revised salary
plan for classified positions to satisfy the
requirements of California Code of Regulations
Section 570.5, effective March 2, 2025.

Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.I Approve Adoption of Ordinance No. 2075 Amending Article IV (“Stadium
Pilot Program”) of Chapter 5.05 (“Solicitors and
Peddlers”) of the Santa Clara City Code to Make the Pilot Program Permanent
25-177
Waive second reading and adopt Ordinance No.
2075 amending Article IV (“Stadium Pilot Program”)
of Chapter 5.05 (“Solicitors and Peddlers”) of the
Santa Clara City Code to make the Pilot Program
permanent as the “Stadium Area Sidewalk Vending”
Ordinance.

Recommendation:

3.J Action to Authorize the Use of City Electric Forces for New Dark Fiber Installations at Walsh
Avenue at San Tomas Aquino Creek
and Stevens Creek Boulevard at Cabot Avenue
25-183

1. Determine the proposed action is exempt from
CEQA pursuant to Section 15301 (Class 1 -
Existing Facilities) of Title 14 of the California
Code of Regulations; and

2. Declare and determine in accordance with Section
1310 of the City Charter that the public works
located at Walsh Avenue at San Tomas Aquino
Creek and Stevens Creek Boulevard at Cabot
Avenue are better performed by the City with its
own employees based on the information set forth
in this Report to Council and authorize the
performance of these public works consistent with
this authorization.

Recommendation:

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

3.K Action on Authorizing the City Manager to Execute Purchase and Sale Agreements for
Easement Acquisitions for the 115kV
Transmission Line for Silicon Valley Power
25-212

1. Authorize the City Manager or designee to enter
into Purchase and Sale Agreements for
easements in connection with the 115kV
Transmission Line Project, which aggregate
acquisition costs shall not exceed the existing
allocation of funds for such purpose, subject to
review and approval by the City Attorney; and

2. Authorize the City Manager or designee to (a) take
any and all actions as are necessary or advisable
to implement and administer the Purchase and
Sale Agreements, including, without limitation,
acceptance of any associated deeds on behalf of
the City of Santa Clara; and (b) approve and
execute future amendments to the Purchase and
Sale Agreements, subject to the review and
approval as to form by the City Attorney.

Recommendation:

SANTA CLARA STADIUM AUTHORITY BOARD CONSENT CALENDAR

4. Action on Stadium Authority Bills and Claims for the Month of December 2024
25-164
Approve the list of Stadium Authority Bills and Claims
for December 2024.

Recommendation:

PUBLIC PRESENTATIONS
[This item is reserved for persons to address the Council or authorities on any matter not on the agenda that is within the subject matter
jurisdiction of the City or Authorities. The law does not permit action on, or extended discussion of, any item not on the agenda except under special circumstances. The governing body, or staff, may briefly respond to statements made or questions posed, and appropriate body may request staff to report back at a subsequent meeting. Although not required, please submit to the City Clerk your name and subject matter on the speaker card available in the Council Chambers.]

CONSENT ITEMS PULLED FOR DISCUSSION

PUBLIC HEARING/GENERAL BUSINESS

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
Meeting Agenda February 25, 2025

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting

ADJOURNMENT
The next scheduled special meeting is on Tuesday, March 4, 2025 in the City Hall Council Chambers.

5. Public Hearing: Action on Appeal of a Conditional Use Permit (PLN23-00148) for a New Unmanned AT&T Telecommunication Facility with the Installation of Three 42’-6” Monopoles Located in the Parking Lot at 3111 Benton Street
25-163
Alternative 1: Overrule the Appeal and Adopt a
Resolution upholding the approval of a Conditional
Use Permit (PLN23-00148) for a New Unmanned
AT&T Telecommunication Facility with the Installation
of Three 42’-6” Monopoles Located in the Parking Lot
at 3111 Benton Street, subject to findings and
conditions of approval.

Recommendation:

6. 25-1262 Staff Presentation on Updates to the County Weed Abatement Program and Related Actions to Implement the Program
Including, Adoption of a Resolution Declaring Weeds a Public Nuisance, and Setting March 25, 2025 for a Public Hearing to Receive Public Input Regarding Non-Compliant Parcels.

Recommendation: 1. Note and file the informational update regarding the County Weed Abatement Program and
continue with the program with the Fire
Department additions;

2. Determine whether the proposed actions are
exempt from CEQA pursuant to Section 15308
(Actions by Regulatory Agencies for Protection of
the Environment) of Title 14 of the California Code
of Regulations;

3. Adopt a Resolution declaring weeds to be a public
nuisance and setting a hearing date for the City
Council to hear public input regarding the
proposed destruction of removal of weeds
(Attachment 8); and

4. Set March 25, 2025, as the date for the required
Public Hearing.

REPORTS OF MEMBERS, SPECIAL COMMITTEES AND COUNCILMEMBER 030 REQUESTS

CITY MANAGER/EXECUTIVE DIRECTOR REPORT
Note and File the City Council Priority Setting
Summary on the 2024 Priorities.

Recommendation:
25-194 City Council Priority Setting Summary Report for 2024 Priorities Meeting Agenda February 25, 2025

MEETING DISCLOSURES
The time limit within which to commence any lawsuit or legal challenge to any quasi-adjudicative decision made by the City is governed by Section 1094.6 of the Code of Civil Procedure, unless a shorter limitation period is specified by any other provision. Under Section 1094.6, any lawsuit or legal challenge to any quasi-adjudicative decision made by the City must be filed no later than the 90th day following the date on which such decision becomes final. Any lawsuit or legal challenge, which is not filed within that 90-day period, will be barred. If a person wishes to challenge the nature of the above section in court, they may be limited to raising only those issues they or someone else raised at the meeting described in this notice, or in written correspondence delivered to the City of Santa Clara, at or prior to the meeting. In addition, judicial challenge may be limited or barred where the interested party has not sought and exhausted all available administrative remedies.

STREAMING SERVICES: As always, the public may view the meetings on SantaClaraCA.gov, Santa Clara City Television (Comcast cable channel 15 or AT&T U-verse channel 99), or the livestream on the City’s YouTube channel or Facebook page.

Note: The public cannot participate in the meeting through these livestreaming methods; livestreaming capabilities may be disrupted at times, viewers may always view and participate in meetings in-person and via Zoom as noted on the agenda.

AB23 ANNOUNCEMENT: Members of the Santa Clara Stadium Authority, Sports and Open Space Authority and Housing Authority are entitled to receive $30 for each attended meeting.

Note: The City Council and its associated Authorities meet as separate agencies but in a concurrent manner. Actions taken should be considered actions of only the identified policy body.

LEGEND: City Council (CC); Stadium Authority (SA); Sports and Open Space Authority (SOSA); Housing Authority (HA); Successor Agency to the City of Santa Clara Redevelopment Agency (SARDA); Bayshore North Project Enhancement Authority (BNPEA); Public Facilities Financing Corporation (PFFC) Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] <mailto:[email protected]> or at the public information desk at any City of Santa Clara public library.

If a member of the public submits a speaker card for any agenda items, their name will appear in the Minutes. If no speaker card is submitted, the Minutes will reflect "Public Speaker." In accordance with the requirements of Title II of the Americans with Disabilities Act of 1990 ("ADA"), the City of Santa Clara will not discriminate against qualified individuals with disabilities on the basis of disability in its services, programs, or activities, and will ensure that all existing facilities will be made accessible to the maximum extent feasible. The City of Santa Clara will generally, upon request, provide appropriate aids and services leading to effective communication for qualified persons with disabilities including those with speech, hearing, or vision impairments so they can participate equally in the City’s programs, services, and activities. The City of Santa Clara will make all reasonable modifications to policies and programs to ensure that people with disabilities have an equal opportunity to enjoy all of its programs, services, and activities.

Agendas and other written materials distributed during a public meeting that are public record will be made available by the City in an appropriate alternative format. Contact the City Clerk’s Office at 1 408-615-2220 with your request for an alternative format copy of the agenda or other written materials.

Individuals who require an auxiliary aid or service for effective communication, or any other disability-related modification of policies or procedures, or other accommodation, in order to participate in a program, service, or activity of the City of Santa Clara, should contact the City’s ADA Coordinator at 408-615-3000 as soon as possible but no later than 48 hours before the scheduled event.

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Joint Council and Authorities Concurrent &
Stadium Authority Board Meeting
City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-102 Agenda Date: 2/25/2025

REPORT TO STADIUM AUTHORITY BOARD

SUBJECT
Discussion of the Proposed Santa Clara Stadium Authority Fiscal Year 2025/26 Operating, Debt Service and Capital Budget and Stadium Authority Budget, Compliance and Management Policies, and Marketing Plan

BOARD PILLAR
Ensure Compliance with Measure J and Manage Levi’s Stadium

BACKGROUND
The Stadium Management Agreement (Management Agreement) defines the Stadium Operation and Maintenance Plan (SOMP) as the plan designed to achieve a safe and well maintained Stadium and states that it should include the standards for management and operation of the Stadium, including the required security, staffing, and other required elements of hosting Stadium Events. The Forty Niners Stadium Management Company LLC (ManCo or Stadium Manager) is responsible for preparing the SOMP, which shall be presented annually to the Santa Clara Stadium Authority (Stadium Authority), and must include the:

1. Annual Shared Stadium Expense Budget,

2. Annual Public Safety Budget,

3. Capital Expenditure Plan, and

4. Marketing Plan.

Section 4.10 of the Management Agreement requires that the Marketing Plan set forth in reasonable detail the Stadium Manager’s plans to develop, implement and monitor marketing, booking, advertising, and promotion of the Non-NFL Events for Levi’s Stadium.

Each year, Stadium Authority staff prepares a proposed Santa Clara Stadium Authority Operating, Debt Service, and Capital Budget for the Stadium Authority’s twelve-month Fiscal Year (FY), which begins on April 1 and runs through March 31 (in accordance with Article 4 - Records, Accounts, Budgets, and Reports of the Management Agreement).

DISCUSSION
This report to the Stadium Authority Board transmits the Proposed FY 2025/26 Stadium Authority Operating, Debt Service, and Capital Budget (Attachment 1), Public Safety Budget (Attachment 2), and 2025 Levi’s Stadium Events Marketing Plan (Attachment 3). It should be noted that the Public Safety Budget is provided by ManCo and included in this report for Stadium Authority Board information only, as budget appropriations for the City’s public safety departments are approved by the City Council through the City’s annual budgeting process.

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The budget document contains several key sections including the:
· Stadium Operating Budget which includes a breakdown of the Stadium Authority’s General and Administrative costs,
· Shared Stadium Manager Expenses including the total expenses and the Stadium Authority’s share of those expenses,
· Debt Service Budget; and
· Capital Budget.

In addition, staff has included glossaries of commonly used financial terms in this proposed budget to facilitate understanding the types of revenues, expenses, debt, and capital expenses.

In accordance with Sections 4.5 through 4.8 of the Management Agreement, ManCo prepared and submitted a proposed operating, capital, and debt budget for the FY 2025/26 Stadium Authority Budget. Staff followed the budget development process outlined in the Proposed Stadium Authority Board Budget Policy (Attachment 4) in preparing the Proposed FY 2025/26 Stadium Authority Budget.

Because of the complexity and importance of the Stadium Budget, Stadium Authority staff’s approach has been to present the budget for Stadium Authority Board consideration over the course of two or more meetings. This year, the schedule for this is as follows: a February 25 th study session; if
necessary, a roll-over March 4th Special Meeting/Study Session; and, finally, a March 11th Public Hearing for Board final consideration and action. The following summarizes the timeline of the FY 2025/26 budget process:
· In November 2024, Stadium Authority worked with ManCo to develop the annual budget plan which included the dates that ManCo would provide all necessary documents as required by the Stadium Lease, Management Agreement, and Stadium Operations Agreement.
· In January 2025, ManCo provided annual documents as outlined in the Stadium Agreements, which were used in the Budget Development Process:
o Stadium Operations and Maintenance Plan
§ Annual Shared Expense Budget with Five Year Projection § Annual Stadium Authority Operations Budget
§ Annual Public Safety Budget
§ Capital Expenditure Plan with Five Year Projection
§ Levi’s Stadium Events Marketing Plan
o Public Safety Document Updates
o NFL and Non-NFL Events Parking Plans
· In February 2025, Stadium Authority staff analyzed ManCo’s budget submission including but not limited to the number of full-time equivalents (FTEs) recommended and related personnel costs as well as non-personnel costs, and calculated the budget for Stadium Authority General and Administrative (G&A) costs (such as staff costs, consulting, audit, legal, and any reasonable and necessary expenses to uphold its support of the Board) as well as any necessary funding to for allocation in the Stadium Authority’s City of Santa Clara Printed on 2/21/2025Page 2 of 6
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Discretionary Fund. As of the timing of the production of this report, responses from ManCo regarding additional questions from the Stadium Authority are expected to be received on February 21
st. Any additional information will be provided during the staff presentation on February 25th.

The Proposed Budget is presented on an accrual basis which provides increased transparency for projected revenues and expenses, with added detail about financial transfers. The total Revenues and Expenses in the Stadium Authority Operating Budget for FY 2025/26 are $66.2 million and $61.2 million, respectively.

A summary of key changes and assumptions for the Proposed Budget include:
· Net Non-NFL Events Revenue estimate for FY 2025/26 totals $5.3 million. This is budgeted lower than the actuals for FY 2023/24 and FY 2024/25, which were $8.3 million and $9.3 million (projected actuals), respectively. ManCo provided a budget estimate of $4.5 million to $5.3 million for Net-Non-NFL Event Revenue for FY 2025/26. Historically, performance has exceeded the preliminary budget estimates based on actual event profitability.
· Payments to the City’s General Fund are programmed at $6.3 million in FY 2025/26 for performance rent ($2.2 million), excess revenue distribution ($2.8 million), ground rent ($1.0 million), and Senior/Youth fees ($270,000).
· Non-NFL Ticket Surcharge revenue is projected to increase $2.3 million, reflecting the increase from of the surcharge from $4 to $8 for tickets sold in FY 2025/26 for certain events.
· Public Safety cost reimbursements over the agreed-upon threshold for FY2025/26 is $2.1 million; $2.0 million will be paid for from the Public Safety Cost Reserve, and $100,000 will be paid from the Discretionary Fund.
· Public Safety Costs 2024 Outstanding Balance paydown of $2.8 million from Excess Revenues which will leave an end balance of $2.8 million at the end of FY2025/26. · Levi’s
® Naming Rights expense of $1.7 million includes the Authority’s obligations under its Naming Rights Agreement with Levi’s® (Schedule 1, Sections 5 and 6) to provide Levi’s® a suite and tickets to the six 2026 FIFA World Cup soccer matches. The Stadium Authority will receive a $4 to $6 surcharge per ticket sold for the six 2026 FIFA World Cup events, with projected revenues (including any backfill if less than $6 is charged) of $2.1 million. These revenues will be allocated 50% to Stadium Authority general revenue and 50% to the Discretionary Fund.
· Renovation/Demolition Reserve is budgeted to have a balance of $48.9 million by the end of FY 2025/26. This reserve is ahead of schedule towards the required $70 million balance because of the contribution from excess revenues that have been generated in recent years.
· Capital Expense (CapEx) Reserve Fund Balance is budgeted to have a balance of $2.6 million by the end of FY2025/26. Staff is proposing that the Stadium Authority contribute an additional $1.0 million
to the CapEx fund above contractual requirements to
provide additional resources for unanticipated expenses. Stadium Authority will continue to provide oversight and work with ManCo to ensure the projects with the highest priorityand needs are addressed within the five-year CapEx plan. StadCo has conducted a Facilities Condition Assessment (FCA), funded at their expense, to help facilitate long-term financial planning, operational efficiency, and structural integrity. The FCA identifies necessary City of Santa Clara Printed on 2/21/2025Page 3 of 6
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planning, operational efficiency, and structural integrity. The FCA identifies necessary repairs, capital improvements, and compliance requirements while optimizing maintenance costs and resource allocation. The Stadium Authority will undertake a vetting of the FCA once complete. It is important to note that the current capital reserve balance is far below an appropriate level and increasing this balance should be a major focus of future budgetary and capital project planning.
· Proposed Capital Expenditures totaling $18.6 million, including general building, security, furnishings and equipment, and public safety investments. The Authority will oversee and collaborate with ManCo to prioritize projects within the five-year CapEx plan. · General and Administrative Budget funding 8.7 full-time equivalent positions totaling $3.3 million. This is a baseline level of support necessary for Stadium Authority operations and reflects an estimate of staff time necessary for FY 2025/26 activities. This budget also included positional changes to reflect a staff reclassification that took place during the current fiscal year, conversion of an existing Assistant to the City Manager to a Deputy City Manager position.
· Total estimated Debt Service payments of $20.6 million including debt related to the Community Facitlies District ($3.6 million) and Term A Loan ($17.1 million).

Key highlights for the Stadium Authority’s 2025/26 budget are as follows:

Operating Budget
Revenues
· FY 2025/26 total projected revenues of $66.2 million includes $24.8 million in facility rent, $5.2 million in SBL revenue, $15.0 million in NFL ticket surcharge, $8.1 million in Naming Rights revenue, $3.4 million in Non-NFL ticket surcharge, $5.3 million in Non-NFL events net revenue, $3.4 million in interest revenue, and $1.0 million in miscellaneous other revenues.
· Non-NFL Events Ticket surcharge revenues are projected to increase by $2.0 million or 146%, from $1.4 million in FY 2024/25 Budget to $3.4 million in FY 2025/25 Budget. As a part of the 2024 settlement agreement, Non-NFL event ticket surcharge will increase from $4 per ticket to a minimum of $8 per ticket starting in FY 2025/26. This incremental surcharge revenue will be used to reimburse public safety costs that exceed the threshold. · ManCo provided Net-Non-NFL Event Revenue to be between $4.5 million and $5.3 million for FY 2025/26. The Stadium Authority used the higher estimate of $5.3 million as the anticipated Net Non-NFL Event Revenue for FY 2025/26. This is based on a projection of eight major events (six concerts and two soccer events) and non-ticketed events.

Expenses
· The proposed Operating Budget equals $61.2 million and includes the Stadium Authority’s share of expenses covered under the Management Agreement in the amount of $14.0 million, along with monies sufficient to fulfill the Stadium Authority’s administrative oversight of the Stadium in the amount of $4.7 million, SBL sales and services of $3.3 million, utilities costs of $1.8 million, ground rent of $1.0 million, performance rent paid to the City of $2.2 million, naming rights expense of $1.7 million, public safety cost over threshold of $2.1 million, public safety cost 2024 outstanding balance of $2.8 million, transfer to the City general fund of $2.8 million and other expenses of $2.0 million. It also includes transfers out of $22.8 million as detailed below.

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· Total transfers out of $22.8 million include a $5.2 million transfer to the Capital Fund for future Stadium capital improvements and $17.6 million to the Debt Service Fund.

Reserves
· Total operating reserves are expected to be $79.3 million at the end of FY 2025/26.

This is composed of a Renovation/Demolition Reserve of $48.9 million, an Operating Reserve of $27.7 million and a Discretionary Fund Reserve of $1.4 million.

Debt Service Budget
· The proposed 2025/26 Debt Service Budget of $20.6 million (principal of $9.9 million and interest of $10.7 million) is based on the required debt service payments. Total outstanding debt is projected to decrease by $9.9 million from $219.7 million to $209.8 million.

Capital Expense Budget
· The FY 2025/26 Capital Expense Budget totals $18.6 million. Of this total, $13.4 million of prior year appropriations are carried over into FY 2025/26. New capital improvement appropriations equal $5.2 million
Levi’s Stadium Marketing Plan
The Marketing Plan (Attachment 3) is submitted by ManCo and included in the report. The Stadium Authority has enlisted a consultant to conduct an evaluation of the 2025 Levi’s Stadium Marketing Plan. This review will assess current marketing strategies, offer recommendations to enhance the Stadium Authority’s strategic oversight, ensure consistency and impact across marketing and branding elements, analyze media plans, and interpret performance data to identify trends and areas for improvement. The process will commence in March 2025, with multiple deliverables, including a final report expected by July 2025. The findings will will guide both the ongoing oversight of the 2025 Marketing Plan and the development of the 2026 Marketing Plan.

ENVIRONMENTAL REVIEW
The action being considered does not constitute a “project” within the meaning of a California Environmental Quality Act (“CEQA”) pursuant to the CEQA Guidelines section 15378(a) as it has no potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment. Furthermore, the action being considered does not constitute a “project” within the meaning of the California Environmental Quality Act (“CEQA”) pursuant to CEQA Guidelines section 15378(b)(5) in that it is a governmental organizational or administrative activity that will not result in direct or indirect changes in the environment.

FISCAL IMPACT
The Proposed FY 2025/26 Budget includes $61.2 million for operating costs (includes transfers out to Debt Service and Capital Funds), $20.6 million for debt service, and $18.6 million for capital (includes a $13.4 million carryover from the prior year).

COORDINATION
This report has been coordinated with the Executive Director and Stadium Authority Counsel Offices.

City of Santa Clara Printed on 2/21/2025Page 5 of 6
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25-102 Agenda Date: 2/25/2025

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] or at the public information desk at any City of Santa Clara public library.

RECOMMENDATION
Review and provide input on the Proposed Santa Clara Stadium Authority Fiscal Year 2025/26 Operating, Debt Service, and Capital Budget, Proposed Stadium Authority Budget, Compliance and Management Policies, and 2025 Levi’s Stadium Events Marketing Plan.

Reviewed by: Kenn Lee, Treasurer
Approved by: Jovan Grogan, Executive Director

ATTACHMENTS

1. Santa Clara Stadium Authority Proposed Fiscal Year 2025/26 Operating, Debt Service, and Capital Budget

2. Fiscal Year 2025/26 Annual Public Safety Budget

3. 2025 Levi’s Stadium Events Marketing Plan

4. Stadium Authority Board Budget Policy

5. Stadium Authority Board Compliance and Management Policy City of Santa Clara Printed on 2/21/2025Page 6 of 6
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n June 8, 2010 the residents of Santa Clara voted to adopt Measure J, the Santa Clara Stadium Taxpayer Protection and Economic Progress Act, resulting in the approval to construct a stadium to be leased by the San Francisco 49ers. Measure J called for the creation of the Santa Clara Stadium Authority (Stadium Authority) to own, develop, construct, operate, and maintain the Stadium. The Stadium Authority exists as a public body, separate and distinct from the City. The Stadium Authority is structured so that the City is not liable for the debts or obligations of the Stadium Authority.

This budget and additional financial information on the Stadium Authority can be found at: “santaclaraca.gov/our-city/santa-clara- stadium-authority”.

PROPOSED

FISCAL YEAR
2025/26

OPERATING,
DEBT

SERVICE

AND CAPITAL
BUDGET
1500 Warburton Avenue
Santa Clara, CA 95050
Phone: (408) 615-2210
Website:
https://www.santaclaraca.gov/our
-city/santa-clara-stadium-
authority
Email: communications@
santaclaraca.gov
Santa Clara Stadium
Authority

2 L E V I’ S ® S TA DI U M
3 Table of Contents
Transmittal Letter .................................................................................................................... 4 General Information............................................................................................................... 14 Organizational Chart ............................................................................................................. 15 NFL Event Highlights - Year in Review ................................................................................. 16 Non-NFL Event Highlights - Year in Review .......................................................................... 17 Excess Revenues Distribution ............................................................................................... 18 Stadium Authority Operating Budget ..................................................................................... 20 Stadium Authority Operating Budget Glossary .................................................................. 29 Shared Stadium Manager Expenses ..................................................................................... 37 Shared Stadium Manager Expenses Glossary .................................................................. 39 Ten-Year Forecast ................................................................................................................ 41 Stadium Debt Service Budget ............................................................................................... 44 Stadium Debt Service Budget Glossary ............................................................................. 47 Stadium Authority Capital Expense Budget ........................................................................... 49 Stadium Authority Work Plan ................................................................................................ 61 Santa Clara Stadium
Authority
4 February 25, 2025
Honorable Board Chair and Stadium Authority Board
SUBJECT: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget Members of the Board,
As required in the Stadium Management Agreement, Section 4.6, I transmit the Proposed Fiscal Year (FY) 2025/26 Operating, Debt Service, and Capital Budget for the Stadium Authority.

This budget provides the necessary funding to administer the duties of the Stadium Authority, including:
 Support for operating Levi’s® Stadium (Stadium) for Non-National Football League (Non-NFL) Events through a management company, the Forty Niners Stadium Management Company LLC (ManCo or Stadium Manager);
 Advancement of the FY 2025/26 Work Plan;
 Payment of debt service obligations; and,
 Maintenance of a five-year capital plan.

LEVI’S® STADIUM OVERVIEW
The Santa Clara Stadium Authority exists as a public body, separate and distinct from the City of Santa Clara, and was established to provide for the development and operation of Levi's ® Stadium.

The elected members of the City Council serve as the governing board for the Authority, with the Mayor serving as chair, the City Manager as the Executive Director, and the City Attorney as the Authority’s General Counsel. Levi’s ® Stadium, the region’s premier sports and entertainment venue, is home to the San Francisco 49ers and future host site of Super Bowl LX and FIFA World Cup in 2026.

The Stadium Authority owns Levi’s ® Stadium and contracts with ManCo for promotion of Non-NFL Events and facility operations and maintenance. This operational structure is implemented by using a variety of ManCo staff, vendors, and public service employees through reimbursement procedures.

The Stadium Authority Board (Board) provides overall governance and oversight of this operational structure. Amongst other due diligence requirements to support these duties, the Board is also responsible for: setting policy; debt and fiscal management; and ensuring implementation of required duties related to operations and capital projects. While meeting the Stadium Authority’s obligations, this budget continues to advance initiatives outlined in the Stadium Authority’s work plan and various work efforts related to Non-NFL Events.

SCSA

SANTA CLARA STADIUM AUTHORITY
Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
5 Since opening in 2014, Levi’s ® Stadium has served as a key economic driver for Santa Clara, generating millions in annual revenue for the City and regional economy. Unlike many stadium projects, Levi’s® Stadium was built without tax increases or ongoing government subsidies, relying instead on 49ers revenue and non-NFL event income to service all debt. The only public contribution was a one-time Redevelopment Agency (RDA) investment. Measure J includes provisions that further safeguard taxpayers by providing that the City’s General Fund nor Enterprise Funds are used for Stadium operations or debt repayment.

Levi’s® Stadium continues to generate significant revenue from NFL games, concerts, and special events, contributing to ongoing Stadium debt reduction, and contribution to the City’s General Fund.

The Stadium Authority maintains a disciplined financial strategy, prioritizing responsible debt management, operational efficiency, and revenue maximization. Here's an overview of the Stadium Authority's historical financial trajectory from 2013 to 2024:

 Consistent Annual Revenue: The SCSA's revenue has averaged $77.7 million per year, peaking at $123.7 million in the 2014/15 fiscal year due to initial Stadium Builder License (SBL) sales. The lowest revenue was $49.6 million during the pandemic-affected year in FY 2020/21.  Contribution to the City’s General Fund: The City's General Fund has received an average of $2.6 million annually from stadium-related activities. The highest contribution is projected to be

12.7 million in FY 2024/25 largely because of the 2024 Settlement Agreement, while the lowest was $390,000 in FY 2020/21, reflecting pandemic impacts. Income to the City includes money from ground rent, performance rent, Senior & Youth Program Fees, and parking fees.  Reduction of Construction Debt : The Stadium's debt peaked at $653.4 million . As of March 2025, it is projected that this debt will be reduced by 66% to $219.7 million.

Beyond financial returns, Levi’s® Stadium enhances tourism, local business growth, and job creation, reinforcing its role as a vital regional asset. The venue’s ability to attract world-class events, including the upcoming Super Bowl 60 and FIFA World Cup 2026, underscores its strong reputation and long- term value to Santa Clara.

The Stadium Authority remains committed to financial oversight, transparency, and long-term sustainability, ensuring that Levi’s ® Stadium continues to provide economic and community benefits while maintaining fiscal integrity.

PROPOSED BUDGET IN BRIEF

The total Revenues and Expenses in the Stadium Authority Operating Budget for FY 2025/26 are $66.2 million and $61.2 million respectively. Revenues increased by $3.4 million or 5%, compared to the prior fiscal year budget. Expenses decreased by $6.5 million or 10% compared to the prior year budget. This budget reflects changes based on the parties’ 2024 Settlement Agreement and the amendments of the Stadium Lease Agreement, which became final and effective on December 28, 2024. This budget also reflects revenues and expenses necessary to operate the Stadium in the context of planning for major events scheduled for the upcoming year which include the 2026 World Cup and Super Bowl LX.

SCSA

SANTA CLARA STADIUM AUTHORITY
Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
6 The Proposed Budget is presented on an accrual basis which provides increased transparency for projected revenues and expenses, with added detail about financial transfers.

A summary of key changes and assumptions for the Proposed Budget include:
 Net Non-NFL Events Revenue estimate for FY 2025/26 totals $5.3 million. This is budgeted lower than the actuals for FY 2023/24 and FY 2024/25, which were $8.3 million and $9.3 million (projected actuals), respectively. ManCo provided a budget estimate of $4.5 million to $5.3 million for Net-Non-NFL Event Revenue for FY 2025/26. Historically, actual performance has exceeded the preliminary budget estimates based on additional event bookings that may occur after the start of the fiscal year.

SCSA staff continue to work with ManCo on adjustments to their Non-NFL Events revenue budget estimate process so that they are more in line with historical performance trends. Below is a summary of prior budget estimates and actual performance.

As noted above, performance for the prior two fiscal years far exceeded the initial budget estimate.
 FY 2023/24 Non-NFL Events Revenue: Preliminary Budget Estimate $4.5 million / Actual $8.3 million
 FY 2024/25 Non-NFL Events Revenue: Preliminary Budget Estimate $6.0 million / Projected Actual $9.3 million
 Payments to the City’s General Fund are programmed at $6.3 million in FY 2025/26 for performance rent ($2.2 million), excess revenue distribution ($2.8 million), ground rent ($1.0 million), and Senior/Youth fees ($270,000).
 Non-NFL Ticket Surcharge revenue is projected to increase $2.3 million, reflecting the increase from of the surcharge from $4 to $8 for tickets sold in FY 2025/26 for certain events.  Public Safety cost reimbursements over the agreed-upon threshold for FY2025/26 is $2.1 million; $2.0 million will be paid for from the Public Safety Cost Reserve, and $100,000 will be paid from the Discretionary Fund.
 Public Safety Costs 2024 Outstanding Balance paydown of $2.8 million from Excess Revenues which will leave an end balance of $2.8 million at the end of FY2025/26.  Levi’s® Naming Rights expense of $1.7 million includes the Authority’s obligations under its Naming Rights Agreement with Levi’s ® to provide suite and tickets to the six 2026 World Cup soccer matches. The Stadium Authority will receive a $4 to $6 surcharge per ticket sold for the six 2026 World Cup events, with projected revenues (including any backfill if less than $6 is charged) of $2.1 million. These revenues will be allocated 50% to Stadium Authority general revenue and 50% to the Discretionary Fund.
 Capital Expense (CapEx) Reserve Fund Balance is budgeted to have a balance of $2.6 million by the end of FY2025/26. Staff is proposing that the Stadium Authority contribute an additional $1.0 million to the CapEx fund above contractual requirements to provide additional resources for unanticipated expenses. Stadium Authority will continue to provide oversight and work with ManCo to ensure the projects with the highest priority, and needs are addressed within the five-year CapEx plan. StadCo has conducted a Facilities Condition Assessment (FCA), funded at their expense, to help facilitate long-term financial planning, operational SCSA

SANTA CLARA STADIUM AUTHORITY
Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
7 efficiency, and structural integrity. The FCA identifies necessary repairs, capital improvements, and compliance requirements while optimizing maintenance costs and resource allocation.

The Stadium Authority will undertake a vetting of the FCA once complete. It is important to note that the current capital reserve balance is far below an appropriate level and increasing this balance should be a major focus of future budgetary and capital project planning.  Proposed Capital Expenditures totaling $18.6 million, including general building, security, furnishings and equipment, and public safety investments. The Authority will oversee and collaborate with ManCo to prioritize projects within the five-year CapEx plan. StadCo has funded a Facilities Condition Assessment (FCA) to aid long-term financial planning, operational efficiency, and structural integrity. Once complete, the Stadium Authority will review the FCA.

Given the low capital reserve balance, increasing reserves will be a key focus in future budget and capital planning.
 General and Administrative Budget funding 8.7 full-time equivalent positions totaling $3.3 million. This is a baseline level of support necessary for Stadium Authority operations and reflects an estimate of staff time necessary for FY 2025/26 activities. This budget also included positional changes to reflect a staff reclassification that took place during the current fiscal year, conversion of an existing Assistant to the City Manager to a Deputy City Manager position.
 Debt Service payments of $20.6 million, including debt related to the Community Facilities District (CFD) Advance ($3.6 million) and Term A Loan ($17.1 million).  Renovation/Demolition Reserve is budgeted to have a balance of $48.9 million by the end of FY 2025/26. This reserve is over half of the $70 million required, because of contributions from excess revenues that have been generated in recent years. The flow of excess revenues was revised to 50% as part of the 2024 Settlement Agreement. As a result, the flow to this reserve is reduced, and the full funding of this reserve is now forecasted for FY 2030/31.

KEY ISSUES / THEMES IN THE PROPOSED BUDGET
There are several key issues / themes highlighted below that contribute to the Proposed Budget.

Super Bowl LX & FIFA World Cup 2026 – Levi's® Stadium is scheduled to host Super Bowl LX on February 8, 2026 and six FIFA World Cup 2026 events between June 13 – July 1, 2026. These events have required significant pre-planning efforts, negotiation and execution of various agreements, and coordination with the NFL, FIFA, Bay Area Host Committee (BAHC), ManCo, and other organizations.

In February 2025, the City Council/Stadium Authority Board approved the FIFA World Cup 2026 Assignment and Assumption Agreement and Guaranty of Certain FIFA World Cup 2026 Obligations (World Cup Agreements). The World Cup Agreements assign all obligations to the BAHC with the exception of the Stadium Authority’s obligations under its Naming Rights Agreement with Levi’s ® to provide suite and tickets to the six 2026 World Cup soccer matches that will be held at Levi’s ® Stadium. The World Cup Agreements include a commitment from the BAHC to reimburse the City for all event-related security, emergency response, transportation management and related costs (collectively, “public safety costs”). A financial guaranty from the Forty Niners Football Company, LLC (TeamCo) for public safety costs, payments for field improvements, and third-party approval/buyout costs is also included in the World Cup Agreements.

Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
8 While the management and administrative costs and the Stadium Authority’s obligations to Levi’s ® under the Naming Rights Agreement is included in this budget, it should be noted that this budget does not include the full costs to host Super Bowl LX and the six FIFA World Cup 2026 soccer matches. For example, the public safety costs and public safety reimbursements related to these events will be included in the City’s budget. In preparing for these world-class events, it is key to ensure that the City continues its compliance with Measure J, which requires that the City be reimbursed for all City-related services and event costs for Levi’s ® Stadium. The World Cup Agreements are a key risk mitigating factor for the City and Stadium Authority Staff and BAHC are in the final stages of negotiating the terms of the Super Bowl LX Interim Funding Agreement, a short- term financial arrangement designed to provide temporary funding for qualified event expenses. This interim agreement ensures that necessary event-related costs are covered efficiently and without delay, maintaining operational continuity while the League Agreement—a more comprehensive financial framework between the 49ers, BAHC, and the City—is being finalized. The League Agreement will establish long-term financial responsibilities, revenue allocations, and governance structures to ensure sustainable funding and accountability for major events at Levi’s ® Stadium.

2024 Settlement Agreement – In May 2024 the Board and City Council accepted terms for settlement of longstanding disputes with the 49ers over Stadium Authority obligations to reimburse the 49ers for “buffet costs” for certain NFL game ticket holders, and to reimburse “public safety costs” paid by the 49ers to the City above a contractual public safety costs “threshold”. To implement this 2024 Settlement Agreement, amendments to the Stadium Lease between the Stadium Authority and StadCo and the Ground Lease between the Stadium Authority and the City were required.

Additionally, those lease amendments required the consent of the National Football League (NFL) and Stadium Lenders in order to become final and effective. In December 2024, the NFL and the Lenders provided their consent to the two lease amendments, which then made 2024 Settlement Agreement terms final and effective as well.

The 2024 Settlement Agreement and Lease amendments included the following terms:

 NFL Public Safety Costs (PSC) paid by StadCo to City that exceeded the threshold for FY 2017/18 through FY 2023/24 (and were therefore due and payable by Stadium Authority to StadCo) to be reduced from $15.5 million to $14.8 million (Public Safety Cost 2024 Outstanding Balance).
 Instead of offsetting Performance Rent, this PSC 2024 Outstanding Balance is to be paid down out of the Stadium Authority’s Legal Contingency Reserve, and an allocation of future Excess Revenues. It is currently estimated that the PSC 2024 Outstanding Balance will be paid off in FY 2027/28.
 NFL Public Safety Cost Threshold to be increased in FY 2024/25 from $251,000 per game to $360,000 per game, with 4% annual increases thereafter.  Non-NFL Event Ticket Surcharge to be increased from $4 per ticket to a minimum of $8 per ticket starting in FY 2025/26, with a $1 per ticket increase every four years thereafter. This incremental surcharge revenue will be used to reimburse any future Public Safety Costs that exceed the Threshold, thereby increasing Performance Based Rent.  The Performance Based Rent formula was revised to allow for a higher Performance Based Rent paid to the City even when public safety credits are due.

Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
9  Public Safety capital expenditure depreciation for Non-NFL events will be reimbursed to the Stadium Authority.
 The 49ers claim against the Stadium Authority for $6.8 million in accrued NFL buffet costs for certain Legacy SBL holders from the beginning of Stadium operations through FY 2023/24 was waived in its entirety.
 Starting with FY 2024/25 the NFL buffet costs will be a flat fee, which reduces the Stadium Authority’s financial liability. The Stadium Authority will pay a flat fee of $90,000 per game for the buffet in FY 2024/25 and this will increase by 3% annually. Stadium Authority is provided audit rights.
 The Senior and Youth Program Fee will increase from $0.35 per ticket with an annual cap of $250,000 to $0.40 per ticket with a $300,000 annual cap starting in FY 2024/25. This fee will increase by $0.05 per ticket every ten years and the annual cap will also increase by $50,000 every ten years. These fees support the City’s senior and youth programs provided by the Parks and Recreation Department.
 Stadium Authority Excess Revenues originally were required to fill the $70 million Renovation/Demolition Reserve Fund before they could flow to the City’s General Fund. The settlement agreement restructures the excess revenue waterfall so that 50% of the funds will continue to fill the Renovation/Demolition Reserve Fund. The remaining 50% is split evenly between repaying StadCo the PSC 2024 Outstanding Balance and releasing funds to the Stadium Authority for payment to the City’s General Fund.

All these terms have been assumed in the development of the Stadium Authority’s FY 2025/26 proposed budget.

Non-NFL Events and Marketing Plan – Over the past three years ManCo has had success in booking profitable major events such as concerts and soccer matches in addition to smaller, non- ticketed special events that have brought in net revenues for the Stadium Authority.

FY2022/23

Actual
FY2023/24
Actual
FY2024/25
Projection
FY2025/26
Budget
$8,809,167 $8,266,685 $9,250,000 $5,300,000

The Net Non-NFL Event Revenue is budgeted at $5.3 million in FY 2025/26 which assumes two (2) soccer matches, six (6) concerts and 50 non-ticketed events. This is 43% lower than the FY 2024/25 projection of $9.3 million which included five (5) soccer matches, three (3) concerts and an estimated 60 non-ticketed events. Historically, actual performance has exceeded the preliminary budget projection based on additional event bookings that may occur after the start of the fiscal year. The events in FY2024/25 also had high ticket prices which resulted in large sums of cash accruing bank interest interest leading up to the events which will not always be the case from year to year.

The Executive Director’s Office will continue to provide oversight and work with ManCo to strive to book events that maximize net revenue per event through various efforts, including refining and implementing the Marketing Plan with emphasis in the following areas:

 Enhance Levi’s ® Stadium and Santa Clara’s reputation to attract ticketed and non-ticketed Non-NFL major and private events.

SCSA

SANTA CLARA STADIUM AUTHORITY
Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
10  Develop an integrated marketing plan with Discover Santa Clara to increase sales and improve organizational efficiency.
 Leverage best-in-class attribution tools that track successful outcomes to specific marketing strategies and tactics.
 Retain a consultant to conduct a Stadium Market Trend Analysis, and evaluate non-NFL event marketing, industry trends, booking strategies, and profitability models. The report will provide key performance indicators (KPIs), best practices, and expert insights to optimize event success and maximize revenue and community benefits.

The goal of the aforementioned strategies is to ensure that Levi’s® Stadium remains a top-tier venue for both NFL and Non-NFL events while maximizing revenue potential for Santa Clara.

Levi’s® Naming Rights Signage Replacement – The Stadium Authority entered into a Naming Rights Agreement with Levi Strauss & Co. (Levi’s ®) in 2013. In 2024, the First Amendment to the Naming Rights Agreement extended the original agreement an additional 10 years ending on February 29, 2044. The original Naming Rights Agreement and its First Amendment provided for an annual payment to the Stadium Authority in exchange for exclusive naming rights and branding at the stadium for 30 years. Levi’s ® has made annual payments to Stadium Authority that increase by 3% each year with the first year being $5.74 million. The total naming rights revenue over the 30-year term is $273.1 million.

With respect to FIFA World Cup 2026, under the terms of Stadium Authority’s Naming Rights Agreement with Levi’s ® as well as the Assignment and Assumption Agreement, Stadium Authority shall be responsible for purchasing on behalf of Levi’s ® for each World Cup Match, the Levi’s ® suite and ticket allocation to which Levi’s ® is entitled. The estimated and not to exceed costs for such purchase is approximately $1.6 million.

As part of the First Amendment to the Naming Rights Agreement, the Stadium Authority agreed to replace the existing Levi’s® Naming Rights signage. This includes the Suite Tower Marquee Sign on the West side of the stadium, the Façade Marquee Sign on the East side of the stadium and the signs above each of the two scoreboards facing the inner bowl of the stadium. The Stadium Authority also negotiated a Naming Rights Extension and Enhanced Signage Project Implementation Agreement (Implementation Agreement) with StadCo whereby the costs for this signage project will be shared with StadCo. Under this agreement the Stadium Authority will cover the first $2.0 million in costs all project costs in excess of $2.0 million will be shared seventy percent (70%) Stadium Authority and thirty percent (30%) StadCo. The preliminary estimate for the Enhanced Signage Project was $3.0 million with the Stadium Authority’s portion being $2.7 million. The FY 2024/25 Capital Expense Proposed Budget included a request for the Levi’s® Naming Rights Enhanced Signage Project in the amount of $2.7 million plus a 5% contingency (totaling $2,835,000).

In FY 2024/25, ManCo completed a competitive solicitation process for this project and the total estimate came in higher than the preliminary estimate of $3.0 million. In December 2024, the Enhanced Signage Project was approved by the Board. The updated estimated cost for this project was $4.7 million with the Stadium Authority’s portion being $3.9 million. All work associated with the North and South interior signs is scheduled to be complete by June 2025 and the East and West exterior signage is scheduled to be completed by December 2025. This Enhanced Signage Project Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
11 and its related costs are included in the Stadium Authority FY 2025/26 Capital Expense budget.

Capital Expense Reserve – Levi’s® Stadium continues to be a world-class sports and entertainment facility, however it is entering its 12 th year of operations so various systems within the stadium are reaching end-of life and finishes are showing signs of wear. To cover CapEx costs, the Stadium lease sets forth requirements for contributions to its CapEx Reserve from Operations and from Excess Revenue each year. Staff recommends that the Stadium Authority contribute an additional $1.0 million to the CapEx fund beyond contractual requirements to cover unexpected expenses. The Authority will oversee and collaborate with ManCo to prioritize projects within the five-year CapEx plan. StadCo has funded a Facilities Condition Assessment (FCA) to aid long-term financial planning, operational efficiency, and structural integrity. Once complete, the Stadium Authority will review the FCA. Given the low capital reserve balance, increasing reserves will be a key focus in future budget and capital planning.

10-Year Forecast – In June 2024, the Santa Clara County Civil Grand Jury published a report entitled, “Outplayed: Measure J, the City of Santa Clara, and the San Francisco 49ers” (Civil Grand Jury report). This report detailed the Civil Grand Jury’s findings and, in some cases, recommendations. One of the findings was that Measure J’s promise to protect the City’s General Fund had been realized and that the funding structure from the Stadium Lease allowed the Stadium Authority to pay down debt and fund required reserves faster than originally planned.

The recommendation associated with this finding was for the City Council and Stadium Authority Board to be mindful of the long-term financial health of the Stadium Authority and for the Treasurer to prepare a long-term plan for funding the required Stadium Authority reserves, including reserves for capital improvements. In line with this recommendation, the FY 2025/26 budget includes a new 10-Year Forecast section. This section outlines a 10-year projection of:

 Operating Revenues and Expenses
 Debt Service Activity
 Use of Excess Operating Revenue
 Reserve Activity
 Overall General Fund Impact

Stadium Authority Excess Revenue is determined at the end of each FY based on cash flows.

Therefore the 10-Year Forecast is a cash-based model so there will be timing variances between the Operating, Debt Service and Capital Expense Budgets versus the 10-Year Forecast. This new long- term forecast will provide staff and City Council/Stadium Authority Board with an additional tool to inform decisions and continue to provide oversight.

STADIUM AUTHORITY FY 2025/26 WORK PLAN

General & Administrative funding in the amount of $4.7 million provides for staffing and consultant resources required to implement the Stadium Authority FY 2025/26 Work Plan. The FY 2025/26 Work Plan outlines the Stadium Authority’s priorities for the year based on previous Board direction and anticipated work efforts. Within the context of continuing to support ongoing Stadium Authority operations, the following summarizes new work efforts:

Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
12  Capital Projects – Continue to provide capital projects oversight and structure, including the Levi’s® Naming Rights signage enhancement and bowl modifications projects, with the goal of facilitating coordination with City staff, increasing transparency, ensuring compliance with state and local laws, and effectively managing priority project timelines and budgets.

 Levi’s ® Stadium Marketing Plan - Review the Marketing Plan in collaboration with ManCo and a retained consultant to ensure alignment with the SCSA’s broader goals. This review will analyze current marketing strategies and provide strategic oversight. Key focus areas include evaluating marketing and branding consistency, assessing media plans for efficiency and Return on Investment (ROI), and interpreting performance data to identify trends and opportunities for improvement.

 Stadium Market Trend Analysis Report – The Stadium Authority has retained a consultant to complete a Stadium Market Trend Analysis that examines how large multi-purpose stadiums market and promote Non-NFL events, structure their marketing plans, and assess industry trends, profitability, and key performance metrics. This analysis will provide insights to benchmark performance.

 Super Bowl LX and FIFA World Cup 2026 - Ongoing efforts by the City and Stadium Authority to support these large events involve numerous crucial aspects such as the negotiation and implementation of agreements and documents with the Bay Area Host Committee to confirm that City costs are covered to ensure compliance with Measure J, and the City and Stadium are ready to host the events. These activities are part of a broader scope of work that includes significant stadium capital projects aimed at enhancing and maintaining the facility to meet current standards and future needs.

SUMMARY

The Proposed FY 2025/26 Operating, Debt Service, and Capital Budget is a balanced budget which provides the funding required to operate and maintain Levi’s® Stadium as well as service the Stadium Authority’s debt and build its reserves. This includes the resources needed to fully reimburse the City for the general and administrative support it provides to the Stadium Authority. Operating revenues are projected to increase by 5% overall and operating expenses are projected to decline by 10% allowing the Stadium Authority to maintain its fiscal strength.

The Stadium Authority is focused on a few key work efforts and issues in the coming years. Super Bowl LX and six FIFA World Cup 2026 soccer matches are scheduled to be played at Levi’s® Stadium in 2026. While significant work has been done to protect the City and its General Fund and prepare for these major events, both events are very much part of the Stadium Authority’s FY 2025/26 Work

Plan. The Executive Director’s Office will continue to provide oversight for the day-to-day operations of the Stadium Authority and work with ManCo to strive to maximize net revenues from Non-NFL Events. As Levi’s® Stadium ages, there will continue to be a need to manage the CapEx reserve and continually evaluate the capital projects required to maintain the Stadium. Lastly, it is great to see that the 10-Year Forecast show the Stadium Authority financial outlook to be strong, allowing for contributions to the City’s General Fund in each of the next ten years.

SCSA

SANTA CLARA STADIUM AUTHORITY
Honorable Board Chair and Stadium Authority Board
Re: Proposed Fiscal Year 2025/26 Operating, Debt Service and Capital Budget February 25, 2025
13 In closing, I want to thank Stadium Authority staff from multiple departments that worked together as a team in preparing this document. Although there are certain challenges ahead, this budget provides a financial path that will allow the Stadium Authority to successfully oversee the operation and management of Levi’s® Stadium to ensure that it continues to be a first-class sports and entertainment venue that will once again host major events of a global magnitude in the upcoming years.

Respectfully submitted,
Jōvan D. Grogan
Executive Director

14 Introduction
This Santa Clara Stadium Authority (Stadium Authority) Budget Report provides information covering the Proposed Fiscal Year 2025/26 Operating, Debt Service, and Capital Budget as well as comparative data from prior fiscal years. Estimated revenue and expense information (three quarters of actuals and one projected quarter) included in this report for FY 2024/25 is unaudited and, therefore, subject to change as a result of final results and the annual audit conducted by an external and independent auditing firm.

In addition to this report, the Stadium Authority produces annual financial statements within six months of the fiscal year-end (March 31 st). These financial statements are audited by an external auditing firm and presented to the Stadium Authority’s Audit Committee and the Stadium Authority Board (Board). Once presented to the Board, the financial statements are published on the Stadium Authority’s web page. The FY 2024/25 audited financial statements will be presented to the Board by the end of September 2025.

The Stadium Authority is structured so that the City of Santa Clara (City) is not liable for the debts or obligations of the Stadium Authority.

All services provided by the City to the Forty Niners Stadium Management Company (ManCo or Stadium Manager) or the Stadium Authority are fully reimbursed. Types of services include the following:

 Administrative General Fund costs that are spent during operations are separately tracked using special account codes in the City’s financial system and all such costs are billed for reimbursement.
 General Fund public safety costs for NFL and Non-NFL events are separately tracked and all such costs are billed for reimbursement.

Methodology
Information provided in this report is based in part on documentation submitted by ManCo on January 31, 2025. The Capital Budget includes proposals by both the Stadium Authority and Stadium Manager. Per Section 4.6 of the Management Agreement, ManCo is required to submit a budget 45 days prior to the start of the fiscal year.

G E NE R AL I NF O RM AT I O N

15 The seven elected members of the City Council serve as the governing Board of the Santa Clara Stadium Authority with the Mayor serving as Chairperson of the Authority.

In addition, City of Santa Clara staff serve as Officers of the Stadium Authority with the City Manager serving as the Executive Director.

O R G A NI Z ATI O N A L C H A R T
Stadium Authority Board
Stadium Authority Counsel
City Attorney's Office

0.55 FTE

0.30 City Attorney

0.20 Chief Assistant City Attorney

0.05 Risk Manager
Auditor

0.05 FTE
Executive Director
Executive Director's Office

4.15 FTE

0.20 Executive Director

0.01 Chief Operating Officer

0.80 Assistant City Manager (2)

0.70 Deputy City Manager

0.13 Public Information Office r

0.05 Comm & Outreach Manager

1.73 Management Analyst (3)

0.05 Execut ive Assistant

0.05 Emergency Services Officer

0.30 Development Project Manager

0.03 Deputy City Manager /Director of
Economic Development & Sustainability

0.10 Other CMO Admin & Comm
Human Resources

0.06 FTE

0.02 Director of Human Resources

0.02 Assistant Director of Human
Resources

0.02 Human Resources Division Manager
Public Works

0.06 FTE

0.03 Dir. of Public Works/City Eng.

0.03 Other Public Works Administration
Community Development

0.04FTE

0.03 Dir. of Community Development

0.01 Other Public Works Administration
Treasurer
Finance

3.23 FTE

0.20 Director of Finance

0.20 Assistant Director of Finance

0.10 Purchasing Division Manager

0.05 Contracts Manager

0.02 Principal Accountan t/Financial
Analyst

0.65 Accounting Division Manager

1.00 Management Analyst

1.00 Accounting Tech II

0.01 Other Finance Admin
Secretary
Assistant City Clerk's Office

0.50 FTE

0.20 Assistant City Clerk

0.15 Deputy City Clerk

0.10 Deputy City Cler k/Records Manager

0.05 Other CC Admin
Information Technology

0.06 FTE

0.01 Director of Information Technology /
CIO

0.02 Sr. Information Tech Svs Manager

0.02 Information Technology Svc Mgr

0.01 Other IT Admin

16 The San Francisco 49ers played one (1) pre-season and nine (9) regular season National Football League (NFL) games in FY 2024/25. Ticket sales resulted in approximately $14.6 million of NFL ticket surcharge revenue to the Stadium Authority (based on the 10% NFL ticket surcharge on each ticket sold) for the one (1) pre-season and nine (9) regular season games. Stadium Authority also collected $279,000 of Senior and Youth Program Fees (based on $0.40 per NFL game ticket, with a maximum of $300,000) that are collected and forwarded to the City.

To meet the contractual parking requirements for events at Levi’s ® Stadium, offsite parking lots are used. These lots are above and beyond the City owned parking lots that are available. Third-party operators who wish to operate an offsite parking lot for sports or entertainment venues are required to secure approvals through the City’s permitting process. If approved, per the City’s Municipal Fee Schedule, these operators remit an offsite parking fee for each car that is parked This fee is $6.71 for the City’s FY 2024/25 (July 1, 2024 through June 30, 2025). This fee was designed to recover the public safety costs associated with these permitted offsite parking lots. Therefore, when invoicing for NFL or Non-NFL public safety costs for a particular event held at Levi’s® Stadium, the offsite parking fee that is collected for such event partly offsets the total public safety costs owed for that event. The offsite parking fees are projected at about $801,000 in FY 2024/25.

NFL EV E N T H I G HL I G H T S - YE A R I N R E V I E W

17 As of this report, there were eight (8) public Non-NFL events held at the Stadium. A total of 342,414 tickets sold in FY 2024/25 for the eight events, resulted in $1.4 million in Non-NFL event ticket surcharge revenue (from the $4 per ticket Non-NFL event surcharge).

There were also 30 smaller events held with 15,656 total attendees in the first two quarters of FY 2024/25. Examples of these special events include corporate events of various sizes, weddings, holiday parties, etc.

The table below shows the Non-NFL events, event date and tickets sold for each event.

Event Date
Tickets
Sold
Earthquakes vs LAFC Soccer 5/4/2024 36,397
Luke Combs Concert Day 1 5/17/2024 47,453
Luke Combs Concert Day 2 5/18/2024 48,044
Ecuador vs Venzuela Soccer 6/22/2024 25,730
Brazil vs Colombia Soccer 7/2/2024 64,621
Rolling Stones Concert 7/17/2024 46,513
Chelsea vs Wrexham Soccer 7/24/2024 28,609
Earthquakes vs Chivas Soccer 7/27/2024 45,047
Total to date 342,414
2024/25 Non-NFL Events

N O N-NFL EV E N T HI G HL I G H T S - YE A R I N RE V I E W

18 The Stadium Authority is considered to have Excess Revenues if the Stadium Authority revenues exceed expenses in a lease year. The Excess Revenues are required to be distributed in the order as set forth in Article 14 of the Stadium Lease agreement. The below Excess Revenues flow chart shows the order of distribution.

E X CE S S RE V E N UE S DI S T RI B U TI O N

1. Payoff any outstanding Management Company
Revolving Loan
(Section 14.1 of the Agreement)

3. Fund Stadium Capital Expenditure Reserve up to $1
million
(Section 14.3 of the Agreement)

2. Fund future Stadium Authority Expenses up to $2
million
(Section 14.2 of the Agreement)

4. Fund Operating Expense Reserve up to $10 million
(Section 14.4 of the Agreement)

5. Repay any outstanding principal balance on the
Subordinate Loan
(Section 14.5 of the Agreement)
Not Applicable - The Stadium
Authority does not have any
outstanding Revolving Loan
Completed in Fiscal Year 2014/15
Annual Contribution
Completed in Fiscal Year 2014/15
Completed in Fiscal Year 2022/23
Excess Revenues Distribution Order
(Per Article 14 of the Agreement)

6. Fund Operating Expense Reserve up to $20 million
(Section 14.6 of the Agreement)

7. Fund Renovation/Demolition Reserve (50% of remaining revenues) if the balance is less than $70 million
(Section 14.7 of the First Amendment Agreement)

8. Public Safety Cost 2024 Outstanding Balance (50% of
remaining revenues) until paid off
(Section 14.7 of the First Amendment Agreement)
Completed $20 million contribution
in Fiscal Year 2022/23.

Annual 3% Contribution is Ongoing
In Progress
Future Allocation - Distributions in
the sections above will have to be
met before using excess cash for
this section.

9. Any remaining revenues can be used to pay Stadium
Authority Discretionary Expense, or for any purpose
including distribution to constituent partners of the
Stadium Authority, including the City's general fund
(Section 14.8 of the First Amendment Agreement)
In Progress
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19 A summary of the Stadium Authority’s FY 2025/26 Excess Revenue Cash Reserves is as follows:

E X CE S S RE V E N UE S DI S T RI B U TI O N ( C O N T.) 2023/24 2024/25 2025/26
Year-end Projected Projected
Beginning Balance
Capital Expenditures Reserve (1)
22,525,031$ 19,260,455$ 14,681,455$
Operating Reserve(2)
25,335,402 26,095,464 26,878,464
Renovation/Demolition Reserve 5,323,390 31,440,735 43,226,735 Total Beginning Balance 53,183,823$ 76,796,654$ 84,786,654$ Transfers In from Operating
Contribution to Capital Expenditures Reserve 2,609,546$ 4,263,000$ 3,769,000$ Contribution from Excess Revenue:

Capital Expenditures Reserve 1,304,773 1,344,000 1,384,000 Operating Reserve 760,062 783,000 806,000 Renovation/Demolition Reserve 26,117,345 11,786,000 5,641,000 Total Transfers In 30,791,726$ 18,176,000$ 11,600,000$ Expenses
Capital Expenditures 7,178,895$ 10,186,000$ 17,061,000$ Total Expenses 7,178,895$ 10,186,000$ 17,061,000$ Ending Balance
Capital Expenditures Reserve 19,260,455$ 14,681,455$ 2,773,455$ Operating Reserve 26,095,464 26,878,464 27,684,464 Renovation/Demolition Reserve 31,440,735 43,226,735 48,867,735 Total Ending Balance 76,796,654$ 84,786,654$ 79,325,654$ (1) Capital Expenditures Reserve balance excludes the balance in the Authority Construction Account for Stadium Warranty Related Construction.
(2) Beginning FY 2023/24 cash balance was adjusted to reflect actual results, which exclude interests and fees.

Santa Clara Stadium Authority
Excess Revenue Cash Reserves Summary

20 The Stadium Authority FY 2025/26 Budget covers the Stadium Authority’s twelve-month fiscal year which runs from April 1, 2025 through March 31, 2026.

Charts are included below as a comparison of revenue and expenditure categories between the FY 2025/26 Proposed Budget and FY 2024/25 Projected Actual performance.

Revenues

 FY 2025/26 total projected revenues of $66.2 million include $24.8 million in facility rent, $5.2 million in SBL proceeds, $15.0 million in NFL ticket surcharge, $8.1 million in naming rights revenue, $5.3 million in net revenues from Non-NFL events, $3.4 million in Non-NFL events ticket surcharge, $3.4 million in interest revenue, and $1.0 million in other revenues.

 Non-NFL Events Ticket surcharge revenues are projected to increase by $2.0 million or 146%, from $1.4 million in FY 2024/25 to $3.4 million in FY 2025/26. As a part of the 2024 Settlement Agreement, non-NFL event ticket surcharge will increase from $4 per ticket to a minimum of $8 per ticket starting in FY 2025/26. This incremental surcharge revenue will be used to reimburse public safety costs that exceed the threshold.

 Net revenues from non-NFL events are projected to be $5.3 million in FY 2025/26, based on an estimate of six (6) concerts, two (2) soccer events, and non-ticketed events. Historically, actual performance has exceeded the preliminary budget projection based on additional event bookings that may occur after the start of the fiscal year.

 Interest earnings are received based on timing of cash receipts from event ticket sales and expenses. Lower interest earnings reflect fewer events projected for FY 2025/26 as of the timing of this report.

 SBL Proceeds are expected to continue to decrease from year to year. Original customers who purchased SBLs on a financing plan when the stadium first opened have completed their payments.

S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T Revenues
FY 2024/25
Projected
Actuals
FY 2025/26
Proposed
Budget
Variance
($)
Variance
(%)
NFL Ticket Surcharge 14,595,000$ 15,034,000$ 439,000$ 3.0% SBL Proceeds 7,969,000 5,156,000 (2,813,000) (35.3)% Interest 5,435,000 3,421,000 (2,014,000) (37.1)% Net Revenues from Non-NFL Events 9,250,000 5,300,000 (3,950,000) (42.7)% Naming Rights 7,830,000 8,065,000 235,000 3.0% Sponsorship Revenue (STR) 837,000 722,000 (115,000) (13.7)% Rent 24,762,000 24,762,000 - 0.0% Senior & Youth Program Fees 279,000 270,000 (9,000) (3.2)% Non-NFL Events Ticket Surcharge 1,394,000 3,426,000 2,032,000 145.8% Non-NFL Events PSC Depreciation Reimbursement 291,000 89,000 (202,000) (69.4)% Total Revenues 72,642,000$ 66,245,000$ (6,397,000)$ (8.8)%

21 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

Expenses

 The Operating Budget includes the Stadium Authority’s share of expenses covered under the Management Agreement in the amount of $14.0 million, along with $24.4 million for operating expenses, including funds to reimburse the City for its staff support, ground rent, performance rent, Senior and Youth Program Fees, funding for SBL sales and service, insurance, payments for public safety costs over threshold, paydown of the PSC 2024 Outstanding Balance and transfer to the City’s General Fund from excess revenues and other expenses.

As shown in the table above, $17.6 million will be transferred from the Operating Fund to the Debt Service Fund for principal and interest debt service payments. The remaining $5.2 million will be transferred to the Capital Expenditure Fund for Stadium capital improvements.

 Shared Stadium Manager Expenses is proposed to increase by $445,000 or 3% from $13.6 million in the prior year budget to $14.0 million.

 SBL Sales and Service are projected to decrease by $260,000 or 7% from the current year's actual projections. This decrease is due to decreases for Stadium Manager staff, SBL sales, and general and administrative costs.

Fund Transfers Out Transfers In
Operating 22,799,000$ -$
Debt Service - 17,646,000 Capital Expenditure Fund - 5,153,000 Total 22,799,000$ 22,799,000$
Expenses
FY 2024/25
Projected
Actuals
FY 2025/26
Proposed
Budget
Variance
($)
Variance
(%)
Shared Stadium Manager Expenses 13,363,000$ 13,999,000$ 636,000$ 4.8% SBL Sales and Service 3,511,000 3,251,000 (260,000) (7.4)% Senior & Youth Program Fees (paid to City) 279,000 270,000 (9,000) (3.2)% Ground Rent (paid to City) 1,000,000 1,000,000 - 0.0% Performance Rent (paid to City) 11,450,000 2,150,000 (9,300,000) (81.2)% Discretionary Fund Expense - 250,000 250,000 N/A Utilities 1,711,000 1,796,000 85,000 5.0% Use of StadCo Tenant Improvements 172,000 106,000 (66,000) (38.4)% Stadium Authority General & Administrative 2,682,000 4,172,000 1,490,000 55.6% Stadium Authority Legal Services 479,000 515,000 36,000 7.5% Naming Rights Expense 136,000 1,699,000 1,563,000 1149.3% Other Expenses 696,000 1,383,000 687,000 98.7% PSC Over Threshold 2,060,000 2,143,000 83,000 4.0% PSC 2024 Outstanding Balance 9,214,000 2,820,000 (6,394,000) (69.4)% Transfer to City General Fund from Excess Revenues 5,893,000 2,820,000 (3,073,000) (52.1)% Total Expenses 52,646,000$ 38,374,000$ (14,272,000)$ (27.1)%

22 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)  Performance Rent paid in FY 2024/25 represents three fiscal years of payments following the 2024 Settlement Agreement. The $2.2 million projected in FY 2025/26 represents the performance rent based on $5.3 million in Non-NFL Event Revenue.

 Stadium Authority General & Administrative costs total $4.7 million, an increase of $399,000 or 9% when compared to the prior year budget of $4.3 million. This increase is mainly due to an increase in staffing support. These costs are further described in detail on page 27 of this report.

 Levi’s® Naming Rights expense of $1.7 million includes the Authority’s obligations under its Naming Rights Agreement with Levi’s ® to provide suites and tickets to the six 2026 World Cup soccer matches.

 Public Safety Cost reimbursements and General Fund transfers from Excess Revenue reflect the current FY 2024/25 projected actual activity and FY 2025/26 budget based on operations.

Historically, after the fiscal year begins, strong revenue performance and/or expenditure savings will result in higher Excess Revenue transfers by the end of the year.

Reserves

 The build-up of reserve balances in accordance with the First Amendment to the Amended and Restated Stadium Lease Agreement is projected to continue for FY 2025/26. Additional details can be found in the Excess Revenue Distribution section and Stadium Authority Operating Budget Glossary, and Excess Revenue, section of this document.

 This budget includes the following reserve balances projected for the end of FY 2025/26:

Operating Reserve ($27.7 million); Renovation/Demolition Reserve ($48.9 million), and Discretionary Fund Reserve ($1.4 million).

23 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

OPERATING REVENUES
$0.7 $0.3
$3.4 I $0.1
$66.2 Million
■ Rent - $24.SM, 38%
■ NFL Ticket Surcharge - $15M, 23%
■ Naming Rights - $8.1 M, 12%
■ SBL Proceeds - $5.1 M, 8%
■ Non-NFL Events Revenue - $5.3M, 8%
■ Non-NFL Event Ticket Surcharge - $3.4M,
5%
■ Interest - $3.4M, 5%
■ Sponsorship Revenue (STR) - $0. 7M, 1 %
■ Senior & Youth Program Fees -$0.3M, <1%
■ Non-NFL Events PSC Depreciation - $0.1 M,
<1%

24 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

$2.2
$2.8
$1.8

OPERATING EXPENSES
$1.0 $0.3
$0.3 $0.1
$61.2 Million
■ Transfers Out - $22.SM, 37%
■ Shared Stadium Manager Expenses - $14M, 23%
■ Stadium Authority General & Administrative - $4.7M,
8%
■ SBL Sales and Service - $3.3M, 5%
■ PSC 2024 Outstanding Balance - $2.SM, 5%
Transfer to City General Fund from Excess Revenues -
$2.SM, 5%
■ Performance Rent (paid to City) - $2.2M, 4%
■ PSC Over Threshold - $2.1 M, 3%
■ Utilities - $1.SM, 3%
■ Naming Rights -$1.7M, 3%
■ Other Expenses -$1.3M, 2%
■ Ground Rent (paid to City) - $1 M, 2%
■ Discretionary Fund Expense - $0.3M, 1%
■ Senior & Youth Program Fees (paid to City) - $0.3M, 1% Use of StadCo Tenant Improvements - $0.1 M, <1%

25 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

2023/24 2024/25 2024/25 2025/26
Year-end Amended (5) Projected Proposed
Actuals Budget Actuals Budget
Beginning Fund Balance
Discretionary Fund Reserve
(2)
1,667,695$ 2,464,323$ 2,464,323$ 1,101,323$ Legal Contingency Reserve - Buffet Costs 2,066,749 3,321,116 3,321,116 - Legal Contingency Reserve - Public Safety Costs 4,246,725 7,324,722 7,324,722 - Operating Reserve
(2)
25,335,402 26,095,478 26,095,464 26,878,464 Renovation/Demolition Reserve
(2)
5,323,390 31,440,735 31,440,735 43,226,735 Stadium Funding Trust Reserve 3,420,994 3,611,041 3,611,041 5,750,512 Unrestricted 13,880,278 15,915,719 15,915,732 10,134,099 Total Beginning Fund Balance 55,941,233$ 90,173,134$ 90,173,133$ 87,091,133$ Revenues
NFL Ticket Surcharge 12,716,579$ 13,700,000$ 14,595,000$ 15,034,000$ SBL Proceeds 15,424,462 5,057,000 7,969,000 5,156,000 Interest 4,845,464 3,534,000 5,435,000 3,421,000 Net Revenues from Non-NFL Events
(4)
8,266,685 6,000,000 9,250,000 5,300,000 Naming Rights 7,601,739 7,830,000 7,830,000 8,065,000 Sponsorship Revenue (STR) 835,452 519,000 837,000 722,000 Rent 24,762,000 24,762,000 24,762,000 24,762,000 Senior & Youth Program Fees 250,000 268,000 279,000 270,000 Non-NFL Events Ticket Surcharge 1,593,256 1,149,000 1,394,000 3,426,000 Non-NFL Events PSC Depreciation Reimbursement - - 291,000 89,000 Other Revenue 167,111 - - - Total Revenues 76,462,748$ 62,819,000$ 72,642,000$ 66,245,000$ Total Source of Funds 132,403,981$ 152,992,134$ 162,815,133$ 153,336,133$ Santa Clara Stadium Authority
Operating Budget Summary

26 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

2023/24 2024/25 2024/25 2025/26
Year-end Amended (5) Projected Proposed
Actuals Budget Actuals Budget
Expenses
Shared Stadium Manager Expenses
Stadium Operations (1) 3,830,372$ 3,384,000$ 3,323,000$ 3,499,000$ Engineering (1) 2,793,094 3,935,000 3,743,000 3,752,000 Guest Services (1)
427,205 621,000 517,000 486,000 Groundskeeping (1) 465,124 316,000 284,000 550,000 Security (1)
1,127,065 1,602,000 1,537,000 1,905,000 Insurance (1)
3,327,172 3,427,000 3,427,000 3,530,000 Stadium Management Fee (1) 690,607 269,000 532,000 277,000 Shared Stadium Manager Expenses Subtotal 12,660,639$ 13,554,000$ 13,363,000$ 13,999,000$ Other Operating Expenses
SBL Sales and Service (1)
2,429,023$ 3,348,000$ 3,511,000$ 3,251,000$ Senior & Youth Program Fees (paid to City) (1)
250,000 268,000 279,000 270,000 Ground Rent (paid to City) (2) 495,000 1,000,000 1,000,000 1,000,000 Performance Rent (paid to City) (2)
- 9,825,000 11,450,000 2,150,000 Discretionary Fund Expense (3) - 250,000 - 250,000 Utilities (1)
1,472,995 1,488,000 1,711,000 1,796,000 Use of StadCo Tenant Improvements (1)
138,405 151,000 172,000 106,000 Stadium Authority General & Administrative (3) 3,085,799 3,793,000 2,682,000 4,172,000 Stadium Authority Legal Services (3)
- 495,000 479,000 515,000 Naming Rights Expense (1) 93,618 136,000 136,000 1,699,000 Other Expenses (1)
393,342 748,000 696,000 1,383,000 PSC Over Threshold - - 2,060,000 2,143,000 PSC 2024 Outstanding Balance - 6,473,000 9,214,000 2,820,000 Transfer to City General Fund from Excess Revenues - 3,073,000 5,893,000 2,820,000 Other Operating Expenses Subtotal 8,358,182$ 31,048,000$ 39,283,000$ 24,375,000$ Total Expenses 21,018,821$ 44,602,000$ 52,646,000$ 38,374,000$ Transfers Out
Debt Service (2) 17,297,708$ 17,471,000$ 17,471,000$ 17,646,000$ Capital Expenditures Reserve (2)
3,914,319 4,032,000 4,032,000 5,153,000 Capital Expenditures Reserve - Levi's Naming Rights - 1,575,000 1,575,000 - Total Transfers Out 21,212,027$ 23,078,000$ 23,078,000$ 22,799,000$ Ending Fund Balance
Discretionary Fund Reserve (2) 2,464,323$ 2,789,323$ 1,101,323$ 1,432,323$ Legal Contingency Reserve - Buffet Costs 3,321,116 - - - Legal Contingency Reserve - Public Safety Costs 7,324,722 - - - Operating Reserve (2) 26,095,464 26,878,478 26,878,464 27,684,464 Renovation/Demolition Reserve (2) 31,440,735 37,548,576 43,226,735 48,867,235 Stadium Funding Trust Reserve 3,611,041 4,183,645 5,750,512 9,531,000 Unrestricted 15,915,732 13,912,112 10,134,099 4,648,111 Total Ending Fund Balance 90,173,133$ 85,312,134$ 87,091,133$ 92,163,133$ Total Use of Funds 132,403,981$ 152,992,134$ 162,815,133$ 153,336,133$ (1) Recommended by ManagementCo.
(2) Amounts are based on payment schedule or calculated as instructed per relevant agreements. (3) Recommended by Stadium Authority staff.
(4) Net Revenues from Non-NFL Events are provided by ManCo on a cash basis, and table above reflects accrual basis; ManCo anticipating Net Revenues from Non-NFL Events to range from $4,500,000 to $5,300,000 for FY2025/26. (5) Amended Budget as of January 14, 2025.

Santa Clara Stadium Authority
Operating Budget Summary (Cont.)

27 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.) Stadium Authority Board Duties and Proposed General and Administrative (G&A) Budget

The Board is a public entity responsible for governing the matters concerning Levi’s ® Stadium. As such, the Board is responsible for setting policy direction, ensuring implementation of its policy direction and other due diligence requirements through Stadium Authority staff, and auditing/oversight of its policy implementation, as reasonable and necessary.

The administrative budget totals $4.7 million, or 8%, of the Fiscal Year 2025/26 Proposed Stadium Authority Operating Expense Budget of $61.2 million. With this budget, staff will support the Board with its oversight of Levi’s® Stadium per the various agreements with ManCo and StadCo, such as:

1. Uphold fiduciary responsibilities and debt obligations;

2. Maintain a productive and functional business relationship with StadCo as the Tenant of the Stadium;

3. Ensure that Levi’s ® Stadium is maintained in the required condition and operated as a quality NFL and multi-purpose public sports, public assembly, exhibit, and entertainment facility;

4. Work collaboratively with the Stadium Manager to hold safe events at Levi’s® Stadium with minimal impacts to the surrounding residential and business community;

5. Continue developing Board policies as required for proper governance and transparency efforts concerning the Stadium Authority oversight efforts;

6. Continue the current noise monitoring program;

7. Implement public safety expert’s recommendations during events held at Levi’s ® Stadium;

8. Develop and implement oversight initiatives consistent with public entity organizations;

Stadium Authority staff are responsible for the capital and programmatic oversight and audit of Stadium activities. As part of this budget, the oversight of Stadium activities is allocated primarily to the Executive Director, Stadium Authority Counsel, Auditor, Treasurer, and various supporting professional staff.

As such, the Stadium Authority G&A expense budget of $4.7 million provides the financial means to fulfill the Board’s policy direction and strategic initiatives and manage the day-to-day operations of the Stadium Authority. This is an increase of $399,000 from the FY 2024/25 Amended Stadium Authority General and Administrative Budget of $4.3 million. This increase reflects the latest salary and benefits information, and an updated estimate of all staff time necessary for FY 2025/26 activities.

It should be noted that the upgrade of an Assistant to the City Manager position to a Deputy City Manager position is included in this Proposed Budget.

28 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T ( C O NT.)

A breakdown of the Stadium Authority’s portion of the overall operating expense budget of $61.2 million is shown below.

Expense Type Budget Comments
Staff support 3,318,000$ To support the Stadium Authority with its oversight duties of stadium activities Legal Services 515,000 As needed for outside legal services Audit Services 160,000 Financial and performance audits performed by external auditors Consultants
100,000 Community engagement efforts and/or Board initiatives consistent with the work plan - Noise Monitoring 87,000 Continued noise monitoring of Levi's Stadium Administrative Services 449,000
Laserfiche Repository, Financial Management System, Peoplesoft improvement, Marketing Plan and Trend Analysis, etc
Other Expenses 50,000 Routine office expenses, travel, training, conferences, banking fees, etc Board Stipends 8,000 Stadium Authority meetings Total 4,687,000$
Proposed Stadium Authority FY2025/26 General and Administrative Budget - Community Outreach/Communications/Engagement
Stadium Authority FY2025/26 General and Administrative Budget and Legal Services Budget
■ Staff Support ■ Legal Services ■ Administrative Services ■ Audit Services ■ Community Outreach ■ Noise Monitoring ■ Other expenses ■ Board stipends

29 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY

Accrual Basis Accounting: The method of recording revenues and expenses when they are incurred, regardless of when cash is exchanged.

Contribution to Operating Reserve: The contributions to the operating reserve are funded by means of excess revenues (see Excess Revenue below). ( Source: The Amended and Restated Stadium Lease Agreement).

Discretionary Fund: This is funded by $2 of the Base Non-NFL ticket surcharge (see Non-NFL Event Ticket Surcharge on Page 30) and has been used to cover NFL public safety costs above the public safety cost threshold in the first three fiscal years of operation and other items at the Stadium Authority’s discretion. It is anticipated that the discretionary fund will continue to cover NFL public safety costs above the threshold, as noted in the table below. Stadium Authority may transfer up to half of the balance of the Discretionary Fund over $1.0 million from the Discretionary Fund to the City’s General Fund if (1) adequate provision has been made for the replacement of and upgrades to capital improvements contemplated under the Public Safety Plan and (2) an equal amount is transferred from the Discretionary Fund to Stadium Authority’s operating fund to be included as Stadium Authority Revenue. (Source: First Amendment to Amended and Restated Stadium Lease Agreement).

Discretionary Fund Balance Summary
FY 2023/24
Year-end
Actual
FY 2024/25
Amended
Budget (1)
FY 2024/25
Projected
Actuals
FY 2025/26
Proposed
Budget
Beginning Balance 1,667,695$ 2,464,323$ 2,464,323$ 1,101,323$ Contributions from Non-NFL Ticket Surcharge Revenue (2) 796,628 575,000 697,000 701,000 Discretionary Fund Expenditures - (250,000) - (250,000) Public Safety Costs Over Threshold - - (2,060,000) (120,000) Ending Balance 2,464,323$ 2,789,323$ 1,101,323$ 1,432,323$ (1) Amended Budget as of January 14, 2025.
(2) Amounts are calculated as instructed per relevant agreements.

30 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

Excess Revenue: If Stadium Authority revenue exceeds expenses for any lease year, such excess revenues shall be distributed as described in the table on the following page. This table reflects how the excess revenues are projected to be distributed in the 2024/25 Fiscal Year. ( Source: First Amendment to Amended and Restated Stadium Lease Agreement).

No. Description Amount Funded Notes
Projected Excess Revenues at Year-end 25,699,000.00$
1 Payment of ManCo Revolving Loan -$ N/A 2 Funding Operating Reserve up to $2 Million +3% annually -$ Funding requirement met 3 Funding CapEx Reserve an Additional $1 Million +3% annually (1,344,000.00)$ Funding annual CapEx Reserve 4 Funding Operating Reserve up to $10 Million +3% annually -$ Funding requirement met 5 Prepayment of StadCo Subordinated Loan -$ N/A 6 Funding Operating Reserve up to $20 Million +3% annually (783,000.00)$ Funding annual Op Reserve 7 Funding Renovation/Demolition Reserve up to $70 Million (50% of remaining Excess Revenues per 8a of First Amendment to Amended and Restated Stadium Lease)
(11,786,000.00)$ Funding Reno/Demo Reserve
8 Public Safety Costs 2024 Outstanding Balance (Half of remaining 50% of Excess Revenues after transfer to Demo Reserve)
(5,893,000.00)$ N/A
9 Available for Additional Disbursements as described in the Stadium Lease (5,893,000.00)$ N/A Balance of Excess Revenues at Year-end -$
2024/25 Projected Result - Use of Excess Revenues

31 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

Ground Rent: The City has agreed to lease the land under Levi’s ® Stadium to Stadium Authority for an initial term of 40 years. The fixed ground rent schedule is noted below for the 40-year initial term. (Source: Ground Lease Agreement)

Lease
Year Fiscal Year
Annual Fixed
Ground Rent
Cumulative
Total
1 2014/15 180,000$ 180,000$
2 2015/16 215,000$ 395,000$
3 2016/17 250,000$ 645,000$
4 2017/18 285,000$ 930,000$
5 2018/19 320,000$ 1,250,000$
6 2019/20 355,000$ 1,605,000$
7 2020/21 390,000$ 1,995,000$
8 2021/22 425,000$ 2,420,000$
9 2022/23 460,000$ 2,880,000$
10 2023/24 495,000$ 3,375,000$
11 2024/25 1,000,000$ 4,375,000$
12 2025/26 1,000,000$ 5,375,000$
13 2026/27 1,000,000$ 6,375,000$
14 2027/28 1,000,000$ 7,375,000$
15 2028/29 1,000,000$ 8,375,000$
16 2029/30 1,100,000$ 9,475,000$
17 2030/31 1,100,000$ 10,575,000$
18 2031/32 1,100,000$ 11,675,000$
19 2032/33 1,100,000$ 12,775,000$
20 2033/34 1,100,000$ 13,875,000$
21 2034/35 1,200,000$ 15,075,000$
22 2035/36 1,200,000$ 16,275,000$
23 2036/37 1,200,000$ 17,475,000$
24 2037/38 1,200,000$ 18,675,000$
25 2038/39 1,200,000$ 19,875,000$
26 2039/40 1,300,000$ 21,175,000$
27 2040/41 1,300,000$ 22,475,000$
28 2041/42 1,300,000$ 23,775,000$
29 2042/43 1,300,000$ 25,075,000$
30 2043/44 1,300,000$ 26,375,000$
31 2044/45 1,400,000$ 27,775,000$
32 2045/46 1,400,000$ 29,175,000$
33 2046/47 1,400,000$ 30,575,000$
34 2047/48 1,400,000$ 31,975,000$
35 2048/49 1,400,000$ 33,375,000$
36 2049/50 1,500,000$ 34,875,000$
37 2050/51 1,500,000$ 36,375,000$
38 2051/52 1,500,000$ 37,875,000$
39 2052/53 1,500,000$ 39,375,000$
40 2053/54 1,500,000$ 40,875,000$

32 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

Insurance: ManCo procures insurance for Levi’s ® Stadium for the entire year and the cost is split between Stadium Authority and StadCo (see Shared Stadium Manager Expenses on Page 31). The Stadium Lease sets the Stadium Authority’s share of insurance expense at $2,550,000 for the first lease year with each succeeding lease year’s insurance expense increasing by 3%. (Source: Stadium Management Agreement & The Amended and Restated Lease Agreement)

Interest: This is interest earned from cash on hand.

Naming Rights: Levi Strauss & Co (Levi’s ®) pays an annual naming rights fee to Stadium Authority that increases by 3% each contract year. The initial Naming Rights Agreement covered a 20-year term, however in January 2024 the First Amendment to the Naming Rights Agreement extended the term an additional 10 years. This annual fee is paid in two equal semi-annual installments on or before March 1st and October 1st. (Source: Naming Rights Agreement & The First Amendment to the Naming Rights Agreement)

The Naming Rights Agreement with Levi’s ® requires the Stadium Authority to hold at least 36 “Major Events” (with 25,000+ attendees) every three contract years. However, the Second Amendment to the Stadium Management Agreement states that ManCo would pay the Stadium Authority the amount owed by the Stadium Authority to Levi’s ®, as liquidated damages. ManCo has acknowledged responsibility for liquidated damages which are paid by ManCo outside the Stadium Authority’s share of Shared Stadium Manager Expenses. During prior discussions between the Stadium Manager and Levi’s®, it was determined based on the contract language that the first contract year began March 1, 2015. As of this report, the current number of Major Events held at Levi’s® Stadium was fourteen (14) through the current three-year period. It should be noted that the periods from March 1, 2018 to February 28, 2021 and March 1, 2021 to February 28, 2024 were both impacted by the COVID pandemic. Stadium Authority will continue to work with ManCo and provide oversight during the period between March 1, 2024 to February 28, 2027 to strive to meet the required 36 “Major Events”. The below table reflects the number of major events from March 1, 2015 to date:

Net Revenues from Non-NFL Events: ManCo provides management services for Levi’s ® Stadium year-round. Additionally, ManCo is responsible for booking and scheduling all non-NFL events on behalf of Stadium Authority. ManCo is required by the Stadium Management Agreement to maintain complete and accurate books and records relating to the net income from the non-NFL events. Those records are reviewed by Stadium Authority staff and/or outside consultants and audited by an independent auditor. After the completion of the fiscal year, the net revenues are paid to Stadium Authority by ManCo. (Source: Stadium Management Agreement)

Number of
Major Events
March 1, 2015 to February 28, 2018 40
March 1, 2018 to February 28, 2021 12
March 1, 2021 to February 29, 2024 14
March 1, 2024 to February 28, 2027 7
Naming Rights Agreement
Three-Year Periods

33 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

NFL Ticket Surcharge: The Forty Niners Football Company, LLC (the Team) collects a 10% NFL ticket surcharge on the price of admission to all NFL games occurring in Levi’s® Stadium on behalf of Stadium Authority. (Source: Amended and Restated Non-Relocation Agreement)

Non-NFL Event Public Safety Cost Depreciation: Capital expenditure assets used for public safety at Levi’s® Stadium are depreciated quarterly and recognized as a Stadium Authority expense. The depreciation expense has also historically been deducted from non-NFL event revenue provided by ManCo resulting in a double charge. As a part of the 2024 Settlement Agreement, capital expenditure depreciation expenses on Non-NFL events will no longer be deducted from non-NFL event revenue.

Non-NFL Event Ticket Surcharge: Promoters or sponsors of any ticketed non-NFL event that is held at Levi’s ® Stadium are required to collect at least a $8 per ticket surcharge with a $1 escalator in FY 2028/29 and every four years thereafter on behalf of Stadium Authority. One-half of the $4 base surcharge that is paid to Stadium Authority covers general stadium operations and the other half funds the Stadium Authority Discretionary Fund. The additional proceeds exceeding the $4 base surcharge will be deposited to the Public Safety Cost Reserve to be used to pay public safety costs exceeding the threshold. (Source: First Amendment to Amended and Restated Stadium Lease Agreement).

Other Expenses: Miscellaneous Stadium Authority expenses such as bank fees.

Other Revenue: Miscellaneous Stadium Authority revenues.

Performance-Based Rent: Stadium Authority pays the City performance-based rent on top of the fixed ground rent. After the completion of the fiscal year, net income from non-NFL events are calculated and reported to Stadium Authority by ManCo. With the finalized non-NFL events report, Stadium Authority calculates the performance-based rent to be remitted to the City during July following the Stadium Authority’s fiscal year-end. The basic calculation for the performance-based rent is 50% of the net income from non-NFL events for any given lease year less the sum of Performance-Based Rent Credits. The Performance-Based Rent Credits include (1) 50% of the fixed ground rent for the current lease year, (2) the amount, if any, that the Public Safety Costs exceed the Public Safety Cost Threshold for the current lease year, (3) following the Tax Allocation Termination Date, the amount of Received Possessory Interest Tax (PIT), and (4) the amount of any credit for Disproportionate Taxes for the current lease year. The table below represents a projection of the 2024/25 and 2025/26 fiscal years’ performance-based rent. ( Source: Ground Lease Agreement & First Amendment to Amended and Restated Stadium Lease Agreement)

Performance Rent Calculation
Fiscal Year 2024/25
Projection
Fiscal Year 2025/26
Budget
Ground Rent 1,000,000$ 1,000,000$
Net Non-NFL Event Revenue (Expense) 9,250,000 5,300,000 50% of Net Non-NFL Event Revenue (Expense) 4,625,000$ 2,650,000$ Performance Rent Credit from Ground Rent (50% of Ground Rent) (500,000) (500,000) Subtotal 4,125,000$ 2,150,000$
Public Safety Credits -$ -$ Other Credits N/A N/A
2024 Settlement Agreement Payout for Performance Rent 7,325,000$ 0$ Net Performance Rent paid to the City of Santa Clara 11,450,000$ 2,150,000$

34 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

Public Safety Costs (PSC) 2024 Outstanding Balance: As part of the 2024 Settlement Agreement, public safety costs over the threshold for FY 2017/18 to FY 2023/24 would not be treated as Credited Public Safety Costs and therefore would not affect the calculation of Performance Based Rent.

Instead, these costs amounting to approximately $14.8 million havebeen redefined as “PSC 2024 Outstanding Balance” which would be paid from a legal contingency reserve and future excess revenues until paid off. ( Source: Settlement Agreement and Mutual Release (Buffet and PSC Arbitration) and First Amendment to Amended and Restated Stadium Lease Agreement).

Public Safety Costs Over Threshold: As of the 2024/25 lease year, the public safety cost threshold will equal $360,000 per game. For lease year 2025/26 and each lease year thereafter the threshold will increase by 4%. Public safety costs incurred above the annual threshold will be repaid over time with additional proceeds from the Non-NFL event ticket surcharge and the discretionary fund. (Source: First Amendment to Amended and Restated Stadium Lease Agreement).

Public Safety Costs Reserve: This is funded by the additional Non-NFL ticket surcharge proceeds which is the amount exceeding the $4 base Non-NFL ticket surcharge (see Non-NFL Event Ticket Surcharge). The additional Non-NFL ticket surcharge proceeds will be used to cover public safety costs that exceed the threshold. The table below reflects how the public safety cost reserve is projected to be distributed in the 2025/26 Fiscal Year. ( Source: First Amendment to Amended and Restated Stadium Lease Agreement).

Rent: The facility rent was originally set at $24.5 million for StadCo to lease the Stadium for their half of the year. As a result of the rent reset arbitration award in favor of Stadium Authority, the facility rent was reset to $24.8 million retro-active to the first lease year. The rent adjustment process is outlined in the Amended and Restated Stadium Lease. ( Source: Amended and Restated Stadium Lease Agreement)

Senior and Youth Program Fees: During the lease terms, StadCo collects City of Santa Clara Senior and Youth Program Fees on behalf of Stadium Authority. The fee was originally $0.35 per NFL game ticket up to a maximum of $250,000 per lease year. As a result of the 2024 Settlement Agreement, beginning FY 2024/25 the fee will increase to $0.40 per NFL game ticket up to a maximum of $300,000 per lease year. Every ten lease years thereafter the fee will increase by $0.05 in conjunction with the maximum amount increased by an additional $50,000. ( Source: First Amendment to Amended and Restated Stadium Lease Agreement)

Shared Stadium Manager Expenses: ManCo oversees the day-to-day operations of Levi’s ® Stadium year-round. Since StadCo leases the Stadium from Stadium Authority for half of each fiscal Public Safety Cost Reserve Balance Summary
FY 2025/26
Proposed
Budget
Beginning Balance -$
Contributions from Non-NFL Ticket Surcharge Revenue (1) 2,023,000 Public Safety Costs Over Threshold (2,023,000)
Ending Balance -$
(1) Amounts are calculated as instructed per relevant agreements.

35 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

year, expenses incurred by the Stadium Manager are shared between StadCo and Stadium Authority.

Most Shared Stadium Manager Expenses are split 50/50 between StadCo and Stadium Authority; grounds-keeping is the exception with a 70/30 split, with StadCo responsible for the larger share. In addition, ManCo procures insurance for Levi’s® Stadium that is shared between StadCo and Stadium Authority (see Insurance). (Source: Stadium Management Agreement & The Amended and Restated Stadium Lease Agreement)

Sponsorship Revenue (STR): STR Marketplace, LLC (STR) established a secondary market website to facilitate the transfer and resale of SBLs. In exchange for the use of the Levi’s ® Stadium trademarks and links on the website (hence the title Sponsorship Revenue), STR pays Stadium Authority a minimum annual fee of $325,000 based on the commissions that are collected by STR.

In addition to the minimum annual fee, Stadium Authority also receives 50% of any commissions in excess of $650,000. The agreement with STR expires on May 31, 2027. ( Source: SBL Website Marketing Agreement & Subsequent Amendments)

Stadium Authority General & Administrative: As an independent public entity, Stadium Authority incurs its own expenses in relation to Board governance, fiduciary responsibilities, oversight, and operations of Levi’s ® Stadium. These include but are not limited to Stadium Authority staff time and various outside contractors and consultants who are hired to support staff with administering the necessary requirements for owning and operating Levi’s ® Stadium and the day-to-day operations of the Stadium Authority. Also included are various administrative type costs such as bank fees, phone charges, IT equipment maintenance, etc.

Stadium Builder License (SBL) Proceeds: SBL holders who are on a payment plan make annual payments. Additionally, some SBL holders make payments above and beyond their annual scheduled payment plan. There are also sales of new SBLs and/or SBLs that were defaulted and resold. SBL cash collections from all these sources make up SBL proceeds.

Stadium Builder License (SBL) Sales and Service: ManCo provides sales and service to SBL holders on behalf of Stadium Authority. This includes all SBL collection efforts and customer service support. (Source: Agreement for Stadium Builder License Sales & Fourth Amendment to the Stadium Management Agreement)

36 S TA DI U M A UT H O RI T Y O P E R AT I NG B U DG E T GL O S S ARY ( C O N T.)

Stadium Management Fee: ManCo receives an annual base management fee to manage Levi’s ® Stadium. The fee was $400,000 in the first lease year and increases by 3% annually. This annual base management fee is split 50/50 between StadCo and Stadium Authority since ManCo manages the Stadium year-round for both entities. In addition to the base management fee, ManCo receives a stadium marketing and booking fee (incentive fee) which is based on a percentage of the amount that the net income from Non-NFL events exceeds the marketing and booking fee benchmark. The table below shows the first 12 years of the base management fee and the stadium marketing and booking fee benchmark. It also shows the first ten (10) years of net income from Non-NFL events and a projection of the eleventh year as well as the applicable marketing and booking fee. ( Source: The Stadium Management Agreement)

Transfers Out : Transfers from the Stadium Authority Operating Fund to fund Debt Service and Capital Expenditure Projects.

Utilities: StadCo leases the Stadium from Stadium Authority for six months of each fiscal year from August through January. StadCo is therefore responsible for the day-to-day utilities during that period.

Stadium Authority pays for the day-to-day utilities from February through July. Utilities associated with large ticketed non-NFL events are charged as an expense to the event which is included in the non- NFL events expense.

Use of StadCo Tenant Improvements: StadCo charges Stadium Authority for use of various StadCo tenant improvements (such as the use of the scoreboard) during Non-NFL events. (Source: Amended and Restated Lease Agreement)
Fiscal Year
Lease
Year
Annual Base
Stadium
Management Fee
(SCSA Share)
Stadium
Marketing and
Booking Fee
Benchmark
Actual/
Projected Net
Income from
Non-NFL Events
1st Tier -paid at
10% Fee
Additional
Stadium
Marketing and
Booking Fee
10% 1st Tier
2nd Tier -paid at
15% Fee
Additional
Stadium
Marketing and
Booking Fee
15% 2nd Tier
Total Stadium
Management Fee
2014/15 1 200,000$ 5,000,000$ 5,207,553$ 10,378$ -$ 210,378$ 2015/16 2 206,000$ 5,150,000$ 6,079,016$ 46,451$ -$ 252,451$ 2016/17 3 212,180$ 5,304,500$ 5,316,894$ 620$ -$ 212,800$ 2017/18 4 218,545$ 5,463,635$ 5,163,329$ 2,000,000$ -$ 4,000,000$ -$ 218,545$ 2018/19 5 225,102$ 5,627,544$ 18,591$ 2,060,000$ -$ 4,120,000$ -$ 225,102$ 2019/20 6 231,855$ 5,796,370$ (2,741,014)$ 2,121,800$ -$ 4,243,600$ -$ 231,855$ 2020/21 7 238,810$ 5,970,261$ (476,960)$ 2,185,454$ -$ 4,370,908$ -$ 238,810$ 2021/22 8 245,975$ 6,149,369$ (288,741)$ 2,251,018$ -$ 4,502,035$ -$ 245,975$ 2022/23 9 253,354$ 6,333,850$ 8,809,167$ 2,318,548$ 231,855$ 4,637,096$ 23,515$ 508,724$ 2023/24 10 260,955$ 6,523,866$ 8,266,685$ 2,388,105$ 174,282$ 4,776,209$ -$ 435,237$ 2024/25
(1)
11 268,783$ 6,719,582$ 9,250,000$ 2,459,748$ 253,042$ 4,919,495$ 10,601$ 532,425$ 2025/26 12 276,847$ 6,921,169$
(1) Net income from Non-NFL events for FY2024/25 is projected.

To be determined

37 The Stadium Management Agreement between
the Stadium Authority, StadCo and ManCo and
was entered into as of March 28, 2012. This
agreement was developed to provide the Stadium
Authority with the expertise of an outside manager
to oversee the day-to-day operations of Levi’s ®
Stadium. Additionally, the Amended and Restated
Stadium Lease Agreement between the Stadium
Authority and StadCo was made and entered into
as of June 19, 2013.

This agreement amended the original stadium
lease to set the initial rent, to allow StadCo to enter into agreements with alternative energy providers,
to cap Stadium Authority’s share of the insurance
costs at a fixed amount each year, and to require
Stadium Authority to fund various reserves.

Per the terms of the Stadium Lease
Agreement, StadCo leases the Stadium
from the Stadium Authority for half of each
fiscal year and is responsible for the
Stadium Manager’s operating expenses
during that period. The Stadium Manager’s
operating expenses for the other half of the
year are the responsibility of the Stadium
Authority. Section 8.3.1 describes the
proportionate share of Stadium Manager
expenses that are owed by the Stadium
Authority and StadCo. Namely that most
Stadium Manager’s operating expenses are
split 50/50 with grounds-keeping being the
exception with a 70/30 split, StadCo being
responsible for the larger share.

ManCo procures insurance for Levi’s ®
Stadium for the entire year and the cost is
shared between Stadium Authority and
StadCo.

Section 4.7 of the Management Agreement
notes that ManCo will provide an Annual
Shared Stadium Expense Budget to be
Proposed annually by Stadium Authority
and StadCo. Once the budget has been
Proposed, ManCo invoices Stadium
Authority monthly for its budgeted portion of
shared expenses which include Stadium
Manager’s operating expenses. As part of
the year-end work, the budgeted amounts
that were paid are to be trued up with actual
expenditures.

S H A R E D STAD I UM M A N A G E R EX P E NS E S

38 S H A R E D STAD I UM M A N A G E R EX P E NS E S (C O NT.)

Security
Stadium
Operations Engineering Guest Services Groundskeeping Total Total Compensation 2,748,472$ 5,684,694$ 4,200,478$ 602,464$ 344,750$ 13,580,858$ Travel, Meals & Entertainment 32,590 324,762 22,600 93,750 10,870 484,572 Outside Services 516,878 45,536 3,143,088 - 1,278,897 4,984,399 General Supplies 9,208 46,736 20,926 139,278 182,780 398,928 Telephone 44,642 562,466 19,688 3,572 1,657 632,025 Equipment 353,742 284,032 67,756 8,416 10,347 724,293 Uniforms 55,804 - 20,648 83,426 3,450 163,328 Other 48,548 49,448 8,360 40,346 - 146,702 Subtotal 3,809,884$ 6,997,674$ 7,503,544$ 971,252$ 1,832,750$ 21,115,104$ Security
Stadium
Operations Engineering Guest Services Groundskeeping Total Total Compensation (2)
1,374,236$ 2,842,347$ 2,100,239$ 301,232$ 103,425$ 6,721,479$ Travel, Meals & Entertainment 16,295 162,381 11,300 46,875 3,261 240,112 Outside Services 258,439 22,768 1,571,544 - 383,669 2,236,420 General Supplies 4,604 23,368 10,463 69,639 54,834 162,908 Telephone 22,321 281,233 9,844 1,786 497 315,681 Equipment 176,871 142,016 33,878 4,208 3,104 360,077 Uniforms 27,902 - 10,324 41,713 1,035 80,974 Other 24,274 24,724 4,180 20,173 - 73,351 Subtotal 1,904,942$ 3,498,837$ 3,751,772$ 485,626$ 549,825$ 10,191,002$ Insurance (3)
3,427,000
Management Fee (4)
277,000
Total 13,895,002$
(3) The stadium lease sets Stadium Authority's share of insurance expense at $2,550,000 for the first lease year with each succeeding lease year's expense increasing 3%.

Stadium Manager
2025/26 Total Shared Stadium Expenses
Between the Santa Clara Stadium Authority and Forty Niners SC Stadium Company (StadCo) Santa Clara Stadium Authority Proportionate Share of Stadium Expenses (1) (1) The Santa Clara Stadium Authority proportionate share of stadium expenses is rounded to the nearest $1,000 in the operating budget. (4) The stadium management agreement sets the base management fee at $400,000 for the first lease year with each succeeding lease year's management fee increasing 3%. This base management fee is split 50/50 between Stadium Authority and StadCo. (2) Total compensation is based on a total of 72 full time equivalent positions.

39 T E N-Y E A R FO R E C AS T ( C O N T.)

Total Compensation: This cost includes full-time staff (72 employees), part-time staff, and benefits.

Stadium Authority pays for 50% of these costs except for Groundskeeping which is set at 30%.

 Full-time wages are costs for all management company full-time employees.

 Part-time wages are costs for all management company part-time employees. Wages include annual training for all Guest Services Representatives.

 Benefits are costs of employees’ health insurance, pension, vacation time, and all employer taxes.

Travel, Meals & Entertainment: These are costs for employee travel (airfare, ground, lodging, and meals) to stadium management conferences. In addition, this category includes costs for staff meals for general food and beverage, vendor engagement, and the year-end guest service employee appreciation banquet.

Outside Services: Costs for outside service providers, which include the following:

 Janitorial costs related to the janitorial, cleaning, landscaping, and trash services of the interior and exterior of the Stadium during non-event, regular business hours.

 Stadium Security costs for staffing 24/7 security guards in and around the Stadium and explosive detection canines.

 Engineering & Maintenance for mandatory safety and general maintenance costs associated with fire sprinklers, fire alarms, elevators, and backflows. Also includes outside sub-contracted calls for services for windows, signage and roof repair, HVAC & electrical, carpet, concrete or other miscellaneous repairs.

General Supplies: Supplies for stadium operations, janitorial, engineering, and Guest Services (For example: janitorial supplies, general printing costs for stadium signage, deployment sheet, notes, handbooks etc.).

Telephone: These are costs for landlines and internet/data service for the Stadium, net of the costs for the Team’s business offices, and cell service for Stadium Manager’s Stadium Operations and Security Department personnel.

Equipment: Costs associated with stadium operations and security software, including mobile safety application, stadium staff scheduling/event calendar software, surveillance licensing software, and monthly cost for off-site equipment storage.

Uniforms: Guest Services Department’s replacement and replenishment of uniforms.

S H A R E D STAD I UM M A N A G E R EX P E NS E S GL O S S A RY

40 S TA D I U M M A N A G E R S H A R E D E X P E N S E S G L O S S A RY ( C O N T.) Other Costs : Costs associated with Stadium Operations (For example: specialized training, command post, CPR first aid, background checks, recruiting, marketing/advertising, and employee retention program).

Tenant Improvements : Interior improvements within Tenant's exclusive facilities and any other improvements within the Stadium that are to be owned by, and constructed at the cost of, Tenant or any Tenant transferee as may be agreed by the Parties (Stadium Authority and StadCo). (Source:

Stadium Lease Agreement).

2026/27 2027/28 2028/29 2029/30 2030/31
Total Compensation 6,923,123$ 7,130,817$ 7,344,741$ 7,565,083$ 7,792,036$ Travel, Meals & Entertainment 247,315 254,734 262,376 270,247 278,355 Outside Services 2,303,512 2,372,618 2,443,796 2,517,110 2,592,624 General Supplies 167,795 172,829 178,014 183,354 188,855 Telephone 325,151 334,905 344,953 355,301 365,960 Equipment 370,879 382,006 393,466 405,270 417,428 Uniforms 83,402 85,904 88,481 91,136 93,870 Other 75,552 77,818 80,153 82,558 85,034 Total 10,496,729$ 10,811,631$ 11,135,980$ 11,470,059$ 11,814,162$ Insurance (1) 3,636,000 3,745,000 3,857,000 3,973,000 4,092,000 Management Fee (2) 285,000 294,000 303,000 312,000 321,000 Total 14,417,729$ 14,850,631$ 15,295,980$ 15,755,059$ 16,227,162$ Stadium Manager
Santa Clara Stadium Authority Proportionate Share of Stadium Expenses - Five Year Forecast
(1) The stadium lease sets SCSA's share of insurance expense at $2,550,000 for the first lease year with each succeeding lease year's expense increasing 3%.
(2) The stadium management agreement sets the base management fee at $400,000 for the first lease year with each succeeding lease year's management fee increasing 3%. This base management fee is split 50/50 between SCSA and StadCo.

41 T E N-Y E A R FO R E C AS T ( C O N T.)
The Ten-Year Stadium Authority Financial Forecast (Forecast) provides policy makers and the public an updated assessment of the Stadium Authority’s fiscal health. The Forecast includes projections for Fiscal Year 2025/26 and the following nine years. The Forecast serves as a strategic planning tool to assist the City Council and Stadium Authority Board, staff and the public with decision-making as they work to adopt the budget and consider long-term financial strategies for the City and Stadium Authority.

The Stadium Lease Agreements describe how Excess Revenues are calculated at the end of each Fiscal Year resulting from revenue and expense cash flows, therefore, the Forecast is prepared on a cash basis. Since the Operating, Debt Service and Capital Expense Budgets are prepared on an accrual basis, there will be timing variances between the budgets included in this report and the Forecast.

In developing the Forecast, different methodologies were used depending on the type of revenue and expense. For example, Naming Rights revenue, Senior and Youth Fees, buffet expenses, insurance expenses, ground rent, base management fees, debt service, etc., are all determined contractually.

Regarding SBL Proceeds, ManCo provided guidance that SBL re-sale activity would level off for the next five years and then begin deflating by 10% each year thereafter. ManCo’s projections for non- NFL Event net revenue were used for FY2025/26 and 2026/27, and future years assumed three concerts, two soccer matches, and 50 private events each year. Lastly, other revenues and expenses were increased annually with inflation.

There are risks inherent in all long-term forecasts. While some of the risks to this Forecast are mitigated by means of the revenues and expenses that are fixed due to contractual agreements, others are not. One risk to this forecast is how the success or failure of the Forty Niners Football Team on the field affects SBL revenue. The team’s success in recent years has driven up SBL revenue, however the converse is also possible. The booking and performance of non-NFL events is another risk. ManCo has been successful in booking a number of events in the past three years and there are currently six (6) concerts and one (1) soccer match scheduled in the coming fiscal year.

However, future events are dependent on if and when music artists are touring each year and if there are sporting matches that can be hosted in Levi’s® Stadium.

This Forecast shows net Excess Operating Revenue in each fiscal year with a high of $13.46 million in FY2025/26 and a low of $8.20 million in FY2034/35. This projected excess revenue allows the Stadium Authority to pay off the Public Safety Cost 2024 Outstanding Balance in the next three years and fill the Renovation/Demolition Reserve of $70 million by FY2030/31. The excess revenue also allows for direct transfers from excess revenue to the City’s General Fund each year with a high of $6.27 million in FY2031/32 and a low of $2.26 million in FY2026/27.

Overall Stadium Authority Reserves are projected to increase from $96.21 million in FY2025/26 to $122.34 million in FY2034/35. Lastly, the direct impact to the City’s General Fund from Stadium Authority activities is positive every fiscal year in the Forecast with the amount fluctuating from $5.68 million in FY2026/27 to $10.08 million in FY2031/32. This is made up of a combination of Ground Rent (Base and Performance), Senior Youth Fees and Stadium Authority Excess Revenue.

T E N-Y E A R FO R E C A S T

42 T E N-Y E A R FO R E C AS T ( C O N T.)

Santa Clara Stadium Authority
10-Year Forecast
(in millions)
Fiscal Year 2025/26 2026/27 2027/28 2028/29 2029/30
Levi's® Stadium Year of Operations 12 13 14 15 16
Operating Activity
Operating Revenue 70.17 $ 63.40 $ 65.82 $ 66.42 $ 67.48 $ Operating Expenses (32.57) (29.43) (30.98) (31.47) (32.18) Transfer to CapEx (3.77) (3.85) (3.94) (4.03) (4.12) Transfer to Discretionary Fund (0.70) (0.33) (0.42) (0.42) (0.42) Transfer to PSC Reserve (2.02) (0.66) (0.84) (0.84) (1.05) Net Cash Flow Available for Debt 31.11 29.13 29.64 29.66 29.71 Debt Service Activity
Term A Debt Service (17.65) (17.82) (18.00) (18.18) (18.36) Net Excess Revenue 13.46 11.31 11.64 11.48 11.35 Use of Excess Revenue
Additional Transfer to CapEx (1.38) (1.43) (1.47) (1.51) (1.56) Transfer to Operating Reserve (0.80) (0.84) (0.85) (0.88) (0.91) Transfer to Reno/Demo Reserve (5.64) (4.52) (4.66) (4.54) (4.44) Paydown PSC 2024 Outstanding Balance (2.82) (2.26) (0.50) - - PSC Over Threshold - - (0.62) (1.60) (1.04) Transfer to City General Fund (2.82) (2.26) (3.54) (2.95) (3.40) Net Operating Cash Flow - $ - $ - $ - $ - $ CapEx Activity
Beginning Balance 16.21 $ 4.30 $ 5.17 $ 6.40 $ 7.89 $ Transfer from Operating 5.15 5.28 5.41 5.54 5.67 CapEx Expenses (17.06) (4.41) (4.18) (4.05) (5.40) CapEx End Balance 4.30 $ 5.17 $ 6.40 $ 7.89 $ 8.16 $ Public Safety Cost Reserve Activity
Beginning Balance - $ 2.02 $ 0.66 $ 0.84 $ 0.84 $ Transfer from Operating 2.02 0.66 0.84 0.84 1.05 PSC Over Threshold Expense - (2.02) (0.66) (0.84) (0.84) PSC Cost Reserve End Balance 2.02 $ 0.66 $ 0.84 $ 0.84 $ 1.05 $ Discretionary Fund Activity
Beginning Balance 3.16 $ 1.80 $ 2.01 $ 0.86 $ 0.42 $ Transfer from Operating 0.70 0.33 0.42 0.42 0.42 PSC Over Threshold Expense (2.06) (0.12) (1.57) (0.86) (0.42) Discretionary Fund End Balance 1.80 $ 2.01 $ 0.86 $ 0.42 $ 0.42 $ Reserve Balances
Discretionary Fund Reserve 1.80 $ 2.01 $ 0.86 $ 0.42 $ 0.42 $ Public Safety Cost Reserve 2.02 0.66 0.84 0.84 1.05 Operating Reserve 27.68 28.52 29.37 30.25 31.16 Renovation/Demolition Reserve 48.87 53.39 58.05 62.59 67.03 CapEx Reserve 4.30 5.17 6.40 7.89 8.16 Debt Service Reserve 11.54 11.54 11.54 11.54 11.54 Total Reserve Balances 96.21 $ 101.29 $ 107.06 $ 113.53 $ 119.36 $ Public Safety Cost 2024 Outstanding Balance
Beginning Balance 5.58 $ 2.76 $ 0.50 $
Paydown with Excess Revenue (2.82) (2.26) (0.50) PSC 2024 End Balance 2.76 $ 0.50 $ - $
City of Santa Clara General Fund Impact
Ground Rent - Base 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.10 $ Ground Rent - Performance 4.13 2.15 2.85 2.53 2.31 Senior Youth Fee 0.27 0.27 0.27 0.27 0.27 Excess Revenue 2.82 2.26 3.54 2.95 3.40 Total City of Santa Clara GF Impact 8.22 $ 5.68 $ 7.66 $ 6.75 $ 7.08 $

43 T E N-Y E A R FO R E C AS T ( C O N T.)
Santa Clara Stadium Authority
10-Year Forecast
(in millions)
Fiscal Year 2030/31 2031/32 2032/33 2033/34 2034/35
Levi's® Stadium Year of Operations 17 18 19 20 21
Operating Activity
Operating Revenue 68.06 $ 68.69 $ 69.32 $ 70.25 $ 71.07 $ Operating Expenses (33.07) (34.04) (35.05) (36.08) (37.28) Transfer to CapEx (4.21) (4.31) (4.40) (4.51) (4.61) Transfer to Discretionary Fund (0.42) (0.42) (0.42) (0.42) (0.42) Transfer to PSC Reserve (1.05) (1.05) (1.05) (1.26) (1.26) Net Cash Flow Available for Debt 29.31 28.87 28.40 27.98 27.50 Debt Service Activity
Term A Debt Service (18.55) (18.73) (18.92) (19.11) (19.30) Net Excess Revenue 10.76 10.14 9.48 8.87 8.20 Use of Excess Revenue
Additional Transfer to CapEx (1.60) (1.65) (1.70) (1.75) (1.81) Transfer to Operating Reserve (0.93) (0.97) (0.99) (1.02) (1.05) Transfer to Reno/Demo Reserve (2.97) - - - - PSC Over Threshold (1.14) (1.25) (1.35) (1.80) (1.38) Transfer to City General Fund (4.12) (6.27) (5.44) (4.30) (3.96) Net Operating Cash Flow - $ - $ - $ - $ - $ CapEx Activity
Beginning Balance 8.16 $ 7.00 $ 6.00 $ 5.00 $ 4.00 $ Transfer from Operating 5.81 5.96 6.11 6.26 6.42 CapEx Expenses (6.97) (6.96) (7.11) (7.26) (7.42) CapEx End Balance 7.00 $ 6.00 $ 5.00 $ 4.00 $ 3.00 $ Public Safety Cost Reserve Activity
Beginning Balance 1.05 $ 1.05 $ 1.05 $ 1.05 $ 1.26 $ Transfer from Operating 1.05 1.05 1.05 1.26 1.26 PSC Over Threshold Expense (1.05) (1.05) (1.05) (1.05) (1.26) PSC Cost Reserve End Balance 1.05 $ 1.05 $ 1.05 $ 1.26 $ 1.26 $ Discretionary Fund Activity
Beginning Balance 0.42 $ 0.42 $ 0.42 $ 0.42 $ 0.42 $ Transfer from Operating 0.42 0.42 0.42 0.42 0.42 PSC Over Threshold Expense (0.42) (0.42) (0.42) (0.42) (0.42) Discretionary Fund End Balance 0.42 $ 0.42 $ 0.42 $ 0.42 $ 0.42 $ Reserve Balances
Discretionary Fund Reserve 0.42 $ 0.42 $ 0.42 $ 0.42 $ 0.42 $ Public Safety Cost Reserve 1.05 1.05 1.05 1.26 1.26 Operating Reserve 32.09 33.06 34.05 35.07 36.12 Renovation/Demolition Reserve 70.00 70.00 70.00 70.00 70.00 CapEx Reserve 7.00 6.00 5.00 4.00 3.00 Debt Service Reserve 11.54 11.54 11.54 11.54 11.54 Total Reserve Balances 122.10 $ 122.07 $ 122.06 $ 122.29 $ 122.34 $ City of Santa Clara General Fund Impact
Ground Rent - Base 1.10 $ 1.10 $ 1.10 $ 1.10 $ 1.20 $ Ground Rent - Performance 2.35 2.44 2.54 2.64 2.74 Senior Youth Fee 0.27 0.27 0.27 0.27 0.30 Excess Revenue 4.12 6.27 5.44 4.30 3.96 Total City of Santa Clara GF Impact 7.84 $ 10.08 $ 9.35 $ 8.31 $ 8.20 $

44 S TA DI U M DE B T S E RV I C E B U D G E T ( C O N T.)

2023/24 2024/25 2024/25 2025/26
Year-end (2) Amended (1) Projected Proposed
Actuals Budget Actuals Budget
Beginning Fund Balance
Required Debt Service Reserve 11,536,235$ 11,536,235$ 11,536,235$ 11,536,235$ Debt Service Reserve 15,663,801 8,122,980 8,122,980 8,820,980 Total Beginning Fund Balance 27,200,036$ 19,659,215$ 19,659,215$ 20,357,215$ Revenues
Contribution from CFD 3,467,626$ 2,782,000$ 3,466,000$ 3,605,000$ Total Revenues 3,467,626$ 2,782,000$ 3,466,000$ 3,605,000$ Transfers In
Transfers In from Operating 17,297,708$ 17,471,000$ 17,471,000$ 17,646,000$ Total Transfers In 17,297,708$ 17,471,000$ 17,471,000$ 17,646,000$ Total Source of Funds 47,965,370$ 39,912,215$ 40,596,215$ 41,608,215$ 2023/24 2024/25 2024/25 2025/26
Year-end (2) Amended (1) Projected Proposed
Actuals Budget Actuals Budget
Expenses
CFD Advance 2,849,343$ 2,754,000$ 3,306,000$ 3,565,000$ Term A Loan 25,456,812 16,933,000 16,933,000 17,080,000 Total Expenses 28,306,155$ 19,687,000$ 20,239,000$ 20,645,000$ Ending Fund Balance
Required Debt Service Reserve 11,536,235$ 11,536,235$ 11,536,235$ 11,536,235$ Debt Service Reserve 8,122,980 8,688,980 8,820,980 9,426,980 Total Ending Fund Balance 19,659,215$ 20,225,215$ 20,357,215$ 20,963,215$ Total Use of Funds 47,965,370$ 39,912,215$ 40,596,215$ 41,608,215$ (1) Amended Budget as of January 14, 2025.
(2) Beginning Fund Balance was adjusted to reflect actual results, which included accruals.

Santa Clara Stadium Authority
Debt Service Budget Summary

S TA DI U M DE B T S E RV I C E B U D G E T

45 S TA DI U M DE B T S E RV I C E B U D G E T ( C O N T.)

Debt Service Payment : The FY 2025/26 Debt Service Budget of $20.6 million is based on the required and additional principal and interest debt service payments. A glossary is included at the end of this section that describes the type of debt and the applicable source documents for each loan. Of the $20.6 million budget, $3.6 million represents anticipated contributions from the Community Facilities District (CFD). The total Debt Service Reserves are projected at $21.0 million.

The following schedule on provides a breakdown of the principal and interest payments budgeted in FY 2025/26 for each loan as well as the beginning and ending balances. The total outstanding debt is projected to decrease by $9.9 million in FY 2025/26 from $219.7 million to $209.8 million.

46 S TA DI U M DE B T S E RV I C E B U D G E T ( C O N T.)

S TA DI U M DE B T S E RV I C E B U D G E T ( C O N T.)

2025/26 2025/26 2025/26
Debt Interest 2025/26 Beginning Principal Ending
Obligations rates Interest Balance Payments Balance
Stadium Funding Trust Term A Loan 5.00% 9,241,000$ 192,656,344$ (7,838,095)$ 184,818,249$ StadCo CFD Advance(1) 5.73% 1,496,000 27,010,621 (2,069,350) 24,941,271 Total 10,737,000$ 219,666,965$ (9,907,445)$ 209,759,520$ Santa Clara Stadium Authority
Debt Service Payment Schedule
(1)Community Facilities District (CFD) principal payment is an estimate based on anticipated contributions from the CFD.

Any increase in principal for the year is due to adding unpaid interest to the principal. $-
$100
$200
$300
$400
$500
$600
$700
March
2012
March
2013
March
2014
March
2015
March
2016
March
2017
March
2018
March
2019
March
2020
March
2021
March
2022
March
2023
March
2024
March
2025
(forecast)
March
2026
(budget)
Total Outstanding Debt (in millions)
Construction Loan StadCo Agency Advance Term B Loan Term A Loan StadCo CFD Advance StadCo Subordinated Loan $41.1
$396.1
$653.4
$561.6
$464.7
$429.8
$382.7
$340.2 $325.3
$296.8
$245.3 $228.7
$280.3
$219.7 $209.8
■ ■ ■ ■ ■ ■

47 Contribution from the Community Facilities District (CFD) : The CFD was established for the purpose of financing and constructing publicly owned facilities. To support that, the CFD levies and collects a special hotel tax of 2% on hotel rooms within the CFD. During the construction of Levi’s ® Stadium, Stadium Authority spent $35.0 million on CFD infrastructure. All collections from the special CFD hotel taxes are contributed to Stadium Authority to pay down the CFD Advance which was used to fund the construction of the CFD publicly owned facilities. (Source: The Reimbursement Agreement Relating to the CFD)

CFD Advance: StadCo agreed to loan Stadium Authority a not to exceed amount of $35.0 million for CFD infrastructure and with a maximum principal amount of $38.0 million including capitalized interest. This loan bears interest at a fixed rate of 5.73% and the loan is payable solely from amounts received by Stadium Authority from the CFD. (Source: The Authority Promissory Note in Respect of StadCo CFD Advance)

Debt Service Reserve: The required Term A Loan principal payments are due on April 1st each year.

However, the cash transfer from the Operating Fund is made in the prior Fiscal Year, this transfer is the main component of the Debt Service Reserve. The other component is the accrued interest on the CFD Advance and the Term A Loan that is recorded at the end of each Fiscal Year.

Term A Loan : The Stadium Funding Trust (FinanceCo) agreed to loan Stadium Authority $282.8 million to fund construction of Levi’s® Stadium. This loan bears interest at a fixed rate of 5% payable semi-annually, with annual principal payments due beginning in April 2018. It has a maturity date in 2039 and is subject to certain prepayment premiums. The principal payment schedule is noted below. (Source: The Restated Credit Agreement)

StadCo Subordinated Loan : StadCo agreed to loan Stadium Authority an amount not to exceed $500 million to fund construction of Levi’s ® Stadium. The actual amount loaned to the Stadium Authority was $236.9 million. This loan bears a fixed interest rate of 5.5% with annual principal payments due beginning in March 2016 and it may be prepaid at any time without penalties. The Stadium Authority had fully paid off this loan in FY 2022/23. (Source: The Restated StadCo Obligations Agreement)

Date
Annual Principal
Payment Date
Annual Principal
Payment Date
Annual Principal
Payment
April 1, 2018 12,110,000$ April 1, 2026 8,404,934$ April 1, 2033 13,306,164$ April 1, 2019 12,718,000$ April 1, 2027 9,001,865$ April 1, 2034 14,160,901$ April 1, 2020 13,354,000$ April 1, 2028 9,630,410$ April 1, 2035 15,060,270$ April 1, 2021 14,022,000$ April 1, 2029 10,292,166$ April 1, 2036 16,006,521$ April 1, 2022 14,723,000$ April 1, 2030 10,988,812$ April 1, 2037 17,002,017$ April 1, 2023 15,459,000$ April 1, 2031 11,722,111$ April 1, 2038 18,049,239$ April 1, 2024 7,299,896$ April 1, 2032 12,493,914$ April 1, 2039 19,150,793$ April 1, 2025 7,838,094$
Term A Loan Amortization (Required Principal Payment Schedule)

S TA DI U M DE B T S E RV I C E B U D G E T GL O S S A RY

48 Required Debt Service Reserve : Stadium Authority agreed to deposit $11,536,235.33 (the Debt Service Reserve Required Amount) into a Debt Service Reserve Account. This amount will remain in the reserve account until the Term A Loan has been fully repaid. (Source: Restated Credit Agreement & Restated Deposit and Disbursement Agreement)

S TA DI U M DE B T S E RV I C E B U D G E T GL O S S A RY ( CO N T.) 49 The Capital Expense (CapEx) Budget is used to fund the purchase or upgrade of fixed assets for the Stadium. While the funding for appropriations occur on an annual basis, the Capital Expense Plan extends for a five-year period (shown on Page 59 of this report). Changes to existing projects, as well as the addition of new projects, may occur during the five-year planning period as new needs are identified. The appropriations for capital projects do not lapse at year-end but carryover into future years until the project is complete.

The FY 2025/26 CapEx Budget totals $18.6 million. Of this total, $13.4 million of prior year appropriations are projected to be carried over from FY 2024/25 ($1.5 million of the projected carryover amount is for warranty-related construction, and the other $11.9 million is for prior year CapEx projects). New capital improvement appropriations equal $5.2 million.

A detailed listing of Proposed FY 2025/26 projects is provided starting on Page 51 of this report.

Stadium Authority is submitting it as transmitted by the Stadium Manager. The description of specific projects have been excluded to protect sensitive information related to security.

S TA DI U M A UT H O RI T Y C AP I TAL EX P E NS E BU D G E T

50 2023/24 2024/25 2024/25 2025/26 2025/26 2025/26
Total
Year-end (2) Amended (1) Projected Projected Proposed Proposed Actuals Budget Actuals Carryover Budget Budget
Beginning Fund Balance 22,977,809$ 19,862,834$ 19,862,834$ 16,072,834$ 16,072,834$ Revenue
-$ -$ -$ -$ -$ -$ Total Revenue -$ -$ -$ -$ -$ -$ Transfers In
3,914,319$ 4,032,000$ 4,032,000$ -$ 5,153,000$ 5,153,000$ - 1,575,000 1,575,000 - - - Total Transfers In 3,914,319$ 5,607,000$ 5,607,000$ -$ 5,153,000$ 5,153,000$ Total Source of Funds 26,892,128$ 25,469,834$ 25,469,834$ 16,072,834$ 5,153,000$ 21,225,834$ 2023/24 2024/25 2024/25 2025/26 2025/26 2025/26
Total
Year-end (2) Amended (1) Projected Projected Proposed Proposed Actuals Budget Actuals Carryover Budget Budget
Expenses
Construction 5,621,274$ 15,667,725$ 6,283,000$ 8,472,000$ 4,045,000$ 12,517,000$ Equipment 1,408,020 5,908,000 3,114,000 2,824,000 907,000 3,731,000 Contingency - 973,000 - 565,000 248,000 813,000 Stadium Warranty Related Construction - 1,528,000 - 1,528,000 - 1,528,000 Total Expenses 7,029,294$ 24,076,725$ 9,397,000$ 13,389,000$ 5,200,000$ 18,589,000$ Ending Fund Balance 19,862,834$ 1,393,109$ 16,072,834$ 2,683,834$ (47,000)$ 2,636,834$ Total Use of Funds 26,892,128$ 25,469,834$ 25,469,834$ 16,072,834$ 5,153,000$ 21,225,834$ (1) Amended Budget as of January 14, 2025.
(2) Beginning Fund Balance was adjusted to reflect actual results, which included accruals. (3) Capital projects are rounded to the nearest $1,000 for FY 2025/26.

Santa Clara Stadium Authority
Capital Expense Budget Summary (3)
Transfers In from Operating
Transfers In from Operating - Levi's Naming Rights
Interest
S TA DI U M A UT H O RI T Y C AP I TAL EX P E NS E BU D G E T (C O N T. )

51 Item Type SCSA
Requested Description Cost Contingency
(5%) Total Cost
Audio/Visual Fiber & Low Voltage Cabling Backbone into Radio Booths - Phase 2 250,000$ 12,500$ 262,500$ Installation of fiber optic and low voltage cabling from camera positions to radio booths for event productions. The project will install fiber optic cabling to increase the low voltage cabling backbone. This installation will accommodate the expanding requests received for booth usage during stadium events and will help the stadium keep up with emerging trends. The project expands on the Phase 1 fiber optic installation between multiple booths located on the 800 level suite tower location and the broadcast patch panel (Room 01.69.08) near the loading dock on the exterior south end of the stadium. Fiber design shall include TAC-12 and DT-12, or better. Design will consider new fiber termination panels, additional conduit, and raceway.

Electrical Distribution - High Voltage (PSG 12 KV Electrical Power Study, Assessment and Replacement at Quad Substations)
500,000 25,000 525,000
Completes the Primary Switch Gear 12KV electrical power study and assessment while replacing any compromised or failed equipment to ensure operational reliability. This assessment phase and replacements will address the Primary Switch Gear and four (4) quad substations.

Electrical LED Retrofit Project - Phase 2 1,000,000 50,000 1,050,000 Project will replace existing fixtures that are no longer manufactured and/or inefficient lighting fixtures. Facility staff is unable to procure existing fixture parts and lamps due to new California Title 24 requirements. This project will start phasing out the existing / outdated fixtures with new energy efficient Title 24 compliance fixtures.

General Building Coating (Structural Steel, Concrete Walls, etc.)White steel - Phase 2 250,000 12,500 262,500 This project applies steel coatings to exterior structural steel of the building structure. The structural steel coatings are exposed to sun, rain and other outdoor elements. This project will continue the multi-year process of recoating the structural steel.

General Building Escalator Canopies - Bird proofing 200,000 10,000 210,000 Bird proofing of escalator canopies due to bird droppings to avoid health & safety due to damage of escalator equipment. Installation of materials to prevent birds from sitting above escalators will help keep the stadium clean, reduce cleaning costs, and extend the life of the equipment.

General Building Project and Construction Management Firm 195,000 9,750 204,750 This budget line item is intended to be used for the two (2) Construction Management / Project Management firms.

General Building Slip and Fall Protection - South, Northeast, and Northwest Field Tunnels 50,000 2,500 52,500 The project will purchase and install synthetic turf flooring for NW, NE and South field level tunnels. The synthetic turf materials provide a walkable surface with appropriate coefficient of friction for foot traffic through tunnels.

General Building Trash Compactor Units 400,000 20,000 420,000 This is the second phase of the project, which will replace the remaining two (2) of four (4) waste compactors at the stadium loading dock and accessory equipment. The units have reached end of life and are in need of replacement.

This equipment is critical to the operation of the stadium. The project will furnish, deliver and install the new equipment.

General Building Walking Route Matting 150,000 7,500 157,500 Installation of resilient flooring walking surface in the service tunnel, which provides a safe and clean delineated walking surface for all events. Installation of flooring will extend walking surface at 100 service corridor near the Auxiliary Locker Rooms and Visitor Locker Room, which are used for all types of events by teams, officials, and other event performers.

HVAC/Mechanical Boilers 500,000 25,000 525,000 Project replaces boiler and/or critical boiler support components to ensure reliable operations of equipment necessary to support events. The boiler systems generate hot water that is used to maintain comfortable indoor temperatures. The stadium spaces require powerful heating and cooling solutions. Some of these system components are reaching end of life and require replacement.

HVAC/Mechanical HVAC 250,000 12,500 262,500 Project addresses general renewal and replacement of necessary HVAC equipment in the stadium to include, but not limited to, cooling tower, pumps, motors, heat pumps, dampers, valves, VFDs, boilers, and/or general mechanical systems.

Santa Clara Stadium Authority
2025/26 CapEx Budget

52 Item Type SCSA
Requested Description Cost Contingency
(5%) Total Cost
Plumbing Plumbing Fixtures urinals/sinks/water closets/hose bibs etc. 250,000$ 12,500$ 262,500$ The project includes the purchase of plumbing fixtures needed to replace existing end of life components. Labor for this project will be performed by stadium Engineering staff. Components that will be purchased as part of this project include, but is not limited to, toilet, urinal and sink components. The project will start a phased replacement program of existing fixtures in stadium restrooms, excluding tenant exclusive facilities. This is the first of several phases to replace aging plumbing fixtures and components.

Site GA Lot Substation Fence 50,000 2,500 52,500 Replace existing damaged fencing and gates due to failed concrete foundation.

The fence provides a secure perimeter around the electronic substation equipment in Great America Parking Lot. Securing this ensures the safe and secure experience for the stadium guests.

Subtotal New CapEx Construction Costs 4,045,000$ 202,250$ 4,247,250$ Furniture, Fixtures &
Equipment
Medical Equipment - General Allowance 150,000 7,500 157,500 A number of pieces of medical equipment in service at the venue for patrons, workers, and performers is at end of life and needs to be replaced, including gurneys, AEDs, EKG Machine, X-ray Flatbed, and other general medical equipment. This general allowance will be used to acquire replacement units during FY 2025/26.

Public Safety - IT Replacement of end of life End User equipment 17,500 875 18,375 x This project replaces 5 Desktops, 2 Printers, 1 Precision Desktop and 3 Laptops that are end of life. Costs include equipment, taxes, shipping and deployment costs.

Public Safety - IT Touchscreen Dispatch Monitors 2,850 143 2,993 x Public safety dispatchers utilize several screens at their workstations in order to facilitate their duties. Incorporating one touch screen monitor (and mounting hardware) at each workstation would improve efficiencies and public safety responses.

Public Safety - IT Temporary Holding Facility (THF) Computer Work Stations 5,000 250 5,250 x This project is to purchase two computer stations, including two monitors for each that are needed within the stadium THF for information sharing and regulatory-mandated entries. This will increase communication ability and access to information. It will also improve efficiency as Officers can complete their own information during the booking process.

Public Safety - Fire Kawasaki ATVs and Kimtek Pump Module 70,000 3,500 73,500 x This project replaces 2 John Deere Gators (utility vehicles) purchased in 2015 that are at the end of the 10-year useful life. The fire pump module will provide fire suppression capabilities for parking lot vehicles.

Public Safety - Fire Kawasaki ATV 30,000 1,500 31,500 x This project is to purchase a new Kawasaki ATV for transporting personnel to the stadium from staging location at Fire Station 8. Currently the personnel are transported using the Fire Department's creek response vehicle, which leaves that resource unavailable during stadium events. The cart can be used by the Exterior Supervisor once it has transported personnel to the stadium.

Public Safety - Fire Kubota Storage Box 7,000 350 7,350 x This project is to purchase a storage box fitted to the Joint Hazards Assessment Team (JHAT) vehicle to store personal protective equipment (PPE) and various equipment used by JHAT.

Public Safety - Fire Lightweight Chemical Detector (LCD) 4.0 20,000 1,000 21,000 Public Safety - Police Secure Law Enforcement Resource Area 35,000 1,750 36,750 x A secure resource placement area will provide a location that is protected from the elements for specialty, law enforcement personnel and equipment. This will allow for enhanced operational conditions and improved communication with the Command Post, increasing situational awareness for Incident Commanders.

Santa Clara Stadium Authority
2025/26 CapEx Budget (Cont.)

53 Item Type SCSA
Requested Description Cost Contingency
(5%) Total Cost
Public Safety - Police E-Bikes 28,000$ 1,400$ 29,400$ x Incorporating e-bikes into public safety operations will increase response time efficiencies and promote improved response readiness for personnel. Bike patrol teams are one of the most important contingents of the public safety deployment, and the bike teams often respond to incidents over the distance of several miles through operational areas of responsibility. With an increase in satellite lots being permitted, the area of public safety coverage has grown. E- bikes will foster expedient response times, while requiring less exertion from personnel, allowing them to be physically ready for a possible emergency engagement. 8 e-bikes would allow two teams to operate in an enhanced manner.

Public Safety - Police Staff Scheduling Software 17,100 855 17,955 x To implement effective and efficient public safety operational plans at the Stadium, staffing support from FTE and per diem employees is necessary. PD currently uses an out of date scheduling software platform that is limited in functionality. Securing and utilizing a more robust technology platform will improve scheduling and staff management abilities, including possible check- in/check-out functionality during events.

Security Security - General Allowance 275,000 13,750 288,750 Security Surveillance - Cameras 250,000 12,500 262,500 Subtotal New CapEx Equipment Costs 907,450$ 45,373$ 952,823$ Total New CapEx Project Costs 4,952,450$ 247,623$ 5,200,073$ 2025/26 CapEx Budget (Cont.)
Santa Clara Stadium Authority

54 Item Type SCSA
Requested Description Cost Remaining
Contingency Total Cost
Electrical Distribution - High Voltage Assessment and Replacement - Automatic Transfer Switches (ATS) & Electrical Grids
400,000$ 20,000$ 420,000$
The project will test, inspect and assess the seven (7) stadium Automatic Transfer Switches ("ATS") and supporting electrical switchgear for the three (3) emergency grids. Assessment will inspect equipment and replace faulty equipment. The assessment will provide a report and recommendation for necessary replacement and modifications necessary to maintain full and safe electrical operation at the stadium. The project includes an allowance for any necessary replacements and / or enhancements identified during the assessment. Replacements and / or modifications are dependent upon the results of the assessment.

Additionally, the project will establish a baseline for this electrical equipment and may determine the need and frequency of future test and inspection of electrical equipment. This is a FY 2024/25 carryover project.

Electrical LED Retrofit Project - Phase 1 125,000 6,250 131,250 Project will replace existing fixtures that are no longer manufactured and/or inefficient lighting fixtures. Facility staff is unable to procure existing fixture parts and lamps due to new California Title 24 requirements. This project will start phasing out the existing / outdated fixtures with new energy efficient Title 24 compliance fixtures. This is a FY 2024/25 carryover project.

Electrical Lighting System - Controls System 75,000 3,750 78,750 The current stadium lighting control system server must be replaced. The current server has reached its end of useful life and is not compatible with future software upgrades. Upgrading the lighting control system server ensures the lighting control system maintains supported and operational.

Project originally approved in FY 2023/24. Technical specifications bid documents are developed, but work will carryover into FY 2025/26.

Electrical Lighting Systems - Fixture Replacement of Major Outdoor Lighting / LED Retrofit / Sports Lighting
2,538,719 126,936 2,665,655 This project replaces the current metal halide stadium field / sport lights ("field lights") with an outdoor LED retrofit. LED field lights will dramatically reduce the carbon footprint, lower the number of mercury containing fixtures and cut energy consumption caused by the field lights by up to as much as 40%, which is one of the largest energy consuming systems in the stadium. LED field lights provide an energy efficient solution to upgrade a product that may soon be phased out. LED lights tend to last much longer and require less maintenance than metal halide lights. The design phase for this project was initiated in FY 2023/24. This project was bid and awarded during FY 2024/25. The project is in progress and a portion of the original budget will be carried over in order to complete the project.

General Building Aesthetic Improvements - Premium Areas / Special Event Spaces 182,962 9,148 192,110 This project will renovate and refresh the premium club spaces in the stadium by replacing carpet and paint in the BNY Clubs, Fii Club, United Club, Yahoo Club and special event spaces. These club spaces are used for numerous events throughout the year. The high traffic experienced in these spaces have worn on finishes and caused the carpet to near the end of life. This project will enhance these premium spaces and ensure Levi's Stadium remains an attractive destination for any and all events. This project was originally approved in FY 2022/23. The project is contracted, but this project will carry over into FY 2025/26 due to supply chain issues and long material lead times.

General Building Automatic Logic Control Building Engineering System 54,999 2,750 57,749 Install an automatic logic controller system upgrade to monitor the building's HVAC in all quadrants simultaneously. This updated system will enable graphic interface and help the system to operate more efficiently with time clock management and assisting in potential lighting control energy savings. Increased budget amount due to anticipated additional cost.

General Building Broadcast Booth Window System Replacement 150,000 7,500 157,500 The retractable window system in the 400 Level broadcast booth opens for all events. The window system casters and rails system has reached end of life due to frequent use, weather and environmental exposure. This project will replace the wall system to provide reliability of the system and successful operations during events. This is a FY 2024/25 carryover project.

Santa Clara Stadium Authority
2025/26 CapEx Budget Carryover

55 Item Type SCSA
Requested Description Cost Remaining
Contingency Total Cost
General Building Coating (Structural Steel, Concrete Walls, etc.) White steel - Phase 1 250,000$ 12,500$ 262,500$ This project begins to recoat the exterior structural steel of the building structure. The structural steel coat is exposed to sun, rain and other outdoor elements. This project will start the multi-year process of recoating the structural steel. This is a FY 2024/25 carryover project.

General Building Engineering Shop Enhancements 50,000 2,500 52,500 The project invests into the stadium Engineering shop by providing improvements to shop work stations and key shop facilities. It provides necessary resources for stadium Engineering staff to perform maintenance and repair activities. Work station enhancements will improve shop work and storage capabilities. The key shop enhancements provide necessary programming for inventory and key tracking capabilities. This is a FY 2023/24 carryover project.

General Building Expansion / Waterproofing / Caulk Joint Replacements - Phase 2 1,262,500 63,125 1,325,625 This is the second phase of the traffic deck recoating with the seating bowl and concourse areas, which are currently showing signs of wear. Phase 1 completed the lower seating bowl and main concourse. The deck coating serves as a secondary waterproofing system for the occupied spaces below these areas and also protects and extends the life of the concrete.

Periodic replacement and recoating of this system is necessary to maintain current waterproofing system and maintain the expected life of the structure . This is a FY 2024/25 carryover project.

General Building Exterior Stairwell Traffic Coating Refurbishment 50,000 2,500 52,500 The project removes and reinstalls traffic coating material on the exterior stadium emergency and exit staircases in areas where the traffic coating is compromised. The traffic coating replacement at the staircase landings will prevent trip and fall hazards, as well as protect the staircase structures from rust and corrosion. This project will extend the life of the staircases.

This project was not part of the 5-year Capex project list in previous years, but was determined that this project is necessary due to the unanticipated spalling of the traffic coating materials in specific areas on the staircases.

Project originally approved in FY 2023/24. Technical specifications bid documents are developed, but work will carryover into FY 2025/26.

General Building Levi's Naming Rights Signage Refurbishment 1,547,191 77,360 1,624,551 The project refurbishes the current four (4) Levi's Naming Rights signs located above the North and South Scoreboards, west side of the suite tower, and on the east side of the grandstands. The current signs have experienced lighting failures despite repeated attempts to repair the signs.

We will await guidance from the Board on this subject. This project was awarded in FY 2024/25. Project has started, but the remaining budget is carried over into FY 2025/26 for project completion.

General Building Miscellaneous 100,000 5,000 105,000 Renewal and replacement of general building items to include, but not limited to, architectural finishes, fixtures, coatings, equipment, etc. This project was originally approved in FY 2022/23.

General Building Miscellaneous 100,000 5,000 105,000 General renewal and replacement of flooring, carpeting, millwork, tiles, masonry, granite counters, Stainless steel panels and counters, cladding, wall acoustic panels etc. throughout the building as items reach their end of life. Project originally approved in FY 2016/17 but was not completed.

General Building Project and Construction Management Firm 152,876 7,644 160,520 This budget line item is intended to be used for the two (2) Construction Management / Project Management firms selected to assist in managing various SCSA Capex projects. This carryover amount is the remaining funding available for this work from the $180,600 approved in the FY 2023/24 budget.

Santa Clara Stadium Authority
2025/26 CapEx Budget Carryover (Cont.)

56 Item Type SCSA
Requested Description Cost Remaining
Contingency Total Cost
General Building Stormwater System Assessment and Replacements 200,000$ 10,000$ 210,000$ The project will provide an assessment and servicing of the Levi's Stadium stormwater system. The contractor will inspect, service and replace equipment as necessary. This equipment is necessary for local and state environmental regulations. This is a FY 2024/25 carryover project.

General Building Trash Compactor Replacement 330,000 16,500 346,500 This project will replace two (2) waste compactors at the stadium loading dock. The units have reached end of life and are in need of replacement.

This equipment is critical to the operation of the stadium. The project will furnish, deliver and install the new equipment. This is a FY 2024/25 carryover project.

Plumbing Plumbing - Boilers 617,870 30,894 648,764 Project addresses general renewal and replacement of necessary plumbing equipment in the stadium to include, but not limited to, replacement of piping, fittings, vents, joints, switches, cleanouts, valves, drains, traps, primers, strainers, pumps, water heaters, interceptors, filters and/or water softener systems. This is a FY 2023/24 carryover project.

Site Asphalt 158,095 7,905 166,000 The project will evaluate the current pavement status and provide asphalt overlay and/or seal coat at the visitor parking on Tasman, Gold 4 & 5 parking lots and South Access Road. Design services will be engaged to evaluate the current condition of pavement and recommend the correct application. Proper overlay and crack fill seals the pavement and prevents the infiltration of water which prevents pavement failure. This is a FY 2018/19 carryover project.

Site Concrete Replacements 127,000 6,350 133,350 The Project will address the concrete at the Northwest stairwell landing on the 700 Level North Plaza area. The railing at the stairwell has been compromised in the past. This project will restore the handrail and concrete at the stairwell, as well as improve the condition by strengthening the reinforcing at the stairwell railing. The project will require demolition of the existing concrete, potentially patch the waterproofing layer of the structural slab, add reinforcing steel, pour concrete, apply traffic coating and re-install the existing handrail at the stairwell. The improved and additionally reinforced slab will improve safety and prevent future damage from carts and other equipment that are used in the nearby area. This project was originally approved in FY 2022/23.

Subtotal Carryover CapEx Construction Costs 8,472,212$ 423,612$ 8,895,824$ Audio/Visual A/V - Renewal and Replacements 75,000 3,750 78,750 This project improves Audio and Visual ("A/V") infrastructure by replacing broadcast patch panel equipment and other A/V equipment that is used by all events. Existing A/V equipment is worn and/or partially damaged due to regular wear and tear on equipment from typical use during events. The existing equipment is original to the building and is in need of replacement.

The project was originally approved in FY 2023/24. Technical specifications bid documents are developed, but work will carryover into FY 2025/26.

Audio/Visual Crestron Control & Building Operating System Upgrades - Phase 2 30,000 1,500 31,500 The project provides an upgrade to the existing Crestron Control system.

The proposed upgrade allows the stadium Engineers to utilize the Crestron system to monitor HVAC, Lighting, Electrical, and Fire Alarms. The comprehensive system shall enable these items to interface with one another for stadium Engineers to see a real time view of the building's systems. This project is phase 2 to a project that was completed in FY 2022/23 which evaluated the project and provided direction for phase 2.

This is a FY 2023/24 carryover project.

Santa Clara Stadium Authority
2025/26 CapEx Budget Carryover (Cont.)

57 Item Type SCSA
Requested Description Cost Remaining
Contingency Total Cost
Audio/Visual Radio Booth Cabling - Phase I 523,708$ 26,185$ 549,893$ The project will install fiber optic cabling to increase the low voltage cabling backbone. This installation will accommodate the expanding requests received for booth usage during stadium events and will help the stadium keep up with emerging trends. The project will install fiber optic cabling between multiple booths located on the 800 level suite tower location and the broadcast patch panel (Room 01.69.08) near the loading dock on the exterior south end of the stadium. Fiber design shall include TAC-12 and DT-12, or better. New fiber termination panels in each booth, along with additional conduit and raceway is considered. This is a FY 2019/20 carryover project.

Furniture, Fixtures &
Equipment
Replace furniture for BNY Field Clubs, United, Levi's 501 & Yahoo clubs and Special Event spaces
76,420 3,821 80,241 Purchase replacement furniture for clubs and special event spaces to enhance areas and meet client expectations. These spaces are amongst the most utilized in the entire stadium. The current furniture has been in place since the building opened in 2014 and is aging due to normal wear and tear as a result of numerous events in the stadium over the first ten years of operation. The furniture specifications are developed and the RFP is complete. This project was originally approved in FY 2019/20 but was not completed. The purchase and delivery of the furniture will carryover into FY 2025/26.

Food and Beverage CO2 Monitoring & Sensors for Code Compliance 178,000 8,900 186,900 The project will design and install remote CO2 monitoring equipment utilizing the existing Automatic Logic Controller (ALC) system. The current CO2 monitoring has local alarm three stage alarm, but is not connected to any Building Management System for remote monitoring. A recent CO2 assessment was performed that found the current monitoring system is compliant with all requirements, but the assessment recommended this remote monitoring upgrade as a best practice for safety. This project will evaluate, recommend and design remote CO2 monitoring system for enhanced safety for stadium staff per Authorities Having Jurisdiction. All Beer Cooler locations and Concession Soda Box Locations shall be monitored by the remote monitoring system. This is a FY 2023/24 carryover project.

Food and Beverage Main Kitchen Equipment 262,308 13,115 275,423 General renewal and replacement of kitchen service equipment in the Main Kitchen. Project will include any necessary design, permit, purchase and installation of aging kitchen equipment that is near or at the end of life.

Project originally approved in FY 2016/17 but was not completed.

HVAC/Mechanical Install New Kitchen Exhaust Fans throughout the building 230,770 11,539 242,309 Install variable frequency drive (VFD) Units on kitchen exhaust fans for soft start (slow ramp up) capabilities. Kitchen exhaust fans currently operate 100 percent of the time. Installing VFD units will modulate the power and save energy whenever the fan is in use. Soft start extends the life of the equipment and saves energy. (Pilot Project option) This is a FY 2019/20 carryover project.

Public Safety - IT Replacement of end of life Network equipment 25,000 1,250 26,250 This project replaces network equipment that was originally installed several years ago and is now end of life and not supported. This replacement cost includes equipment, shipping/tax and installation. This is a FY 2022/23 carryover project.

Public Safety - Police Communication Equipment - Console 316,000 15,800 331,800 Acquisition of two additional Motorola Radio Consoles to replace the existing Motorola Consolettes, which are approaching the end of life.

Unlike consolettes, full consoles provide enhanced audio clarity, expanded communication capabilities, and improved functionality through better integration and customizable settings. Additionally, these consoles are built with robust durability, reducing the likelihood of malfunctions and minimizing downtime. This investment represents a long-term solution that offers greater scalability to meet our evolving communication and safety needs. By enhancing reliability, operational efficiency, and adaptability, these consoles will provide substantial long-term value and improve overall communication effectiveness. This is a FY 2023/24 carryover project.

Santa Clara Stadium Authority
2025/26 CapEx Budget Carryover (Cont.)

58 Item Type SCSA
Requested Description Cost Remaining
Contingency Total Cost
Security Enhance Stadium Security Access Control 235,000$ 11,750$ 246,750$ Security Install Stadium Camera Booths Card Readers 84,000 4,200 88,200 Security Security General Allowance 287,964 14,398 302,362 Security Stadium Camera Coverage Upgrade 500,000 25,000 525,000 Subtotal Carryover CapEx Equipment Costs 2,824,170$ 141,208$ 2,965,378$ Total Carryover CapEx Project Costs 11,296,382$ 564,820$ 11,861,202$ Santa Clara Stadium Authority
2025/26 CapEx Budget Carryover (Cont.)

59 S TA DI U M A UT H O RI T Y C AP I TAL EX P E NS E BU D G E T (C O N T. )

2025/26 2026/27 2027/28 2028/29 2029/30
Budget Budget Budget Budget Budget
Electrical 4,638,719$ 1,525,000$ 400,000$ 1,025,000$ -$ General Building 5,675,528 770,000 475,000 1,920,000 1,100,000 Plumbing 867,870 35,000 70,000 150,000 75,000 Site 335,095 - 625,000 - 600,000 Subtotal CapEx Construction Costs 11,517,212$ 2,330,000$ 1,570,000$ 3,095,000$ 1,775,000$ Audio/Visual 878,708$ -$ -$ -$ 400,000$ FF&E 226,420 - 110,000 - - Food & Beverage 440,308 750,000 750,000 - 200,000 HVAC/Mechanical 980,770 225,000 800,000 275,000 250,000 Life Safety/Fire - 225,000 150,000 110,000 - Security 1,631,964 250,000 350,000 - - Public Safety Equipment 573,450 15,500 - 30,000 2,514,765 Vertical Transport - 400,000 250,000 350,000 - Subtotal CapEx Equipment Costs 4,731,620$ 1,865,500$ 2,410,000$ 765,000$ 3,364,765$ Contingency (5%) 812,443 209,775 199,000 193,000 256,988 Total CapEx Project Costs(1)
17,061,275$ 4,405,275$ 4,179,000$ 4,053,000$ 5,396,753$ (1)
Total CapEx Project Costs in table above do not include budget requested for Stadium Warranty Related Construction.

Santa Clara Stadium Authority
Capital Expense Plan Summary - 5 Year Forecast

60 This page is intentionally left blank

Stadium Authority Work Plan

Page 1 of 4 ends

61 S TA DI U M A UT H O RI T Y W O R K PL A N
Staff is responsible for supporting the Stadium Authority Board with its contractual oversight of Levi’s® Stadium, managing the day-to-day operations of the Stadium Authority, and ensuring the stadium is prepared to host major global events such as Super Bowl LX and FIFA World Cup 2026.

These responsibilities include, but are not limited to:
 Stadium Operations & Financial Oversight: Supporting Non-NFL event operations through the Stadium Manager, payment of debt service obligations, maintaining a five-year capital plan, accounting and financial management, updating cost estimates and monthly accounting of Super Bowl LX and FIFA World Cup staff time and outside vendor costs to ensure proper cost reimbursement per the Assignment and Assumption Agreement with the Bay Area Host Committee (BAHC), preparation of the annual financial statement and quarterly financial updates, review and recommendation of procurement requests for Board approval, and implementation of the Financial Management System.
 Operational Management & Compliance: Coordinating with the Stadium Manager and City departments to resolve complaints and inquiries related to Levi’s ® Stadium, execution of Stadium Builder Licenses, processing Public Records Act requests, and ensuring transparency through reporting of Stadium Authority and Stadium Manager staff meetings and annual reporting of contracts, and oversight of the noise monitoring program.  Public Safety & Emergency Preparedness: Coordinating with the City’s Police and Fire Departments and Office of Emergency Management to enhance security measures, conduct emergency preparedness drills, ensure public safety protocols are up to date, and implement best practices for major event security, emergency and medical services, and emergency preparedness and response.
 Community Benefits & Engagement: Enhancing community outreach initiatives, supporting job creation and vendor opportunities for local businesses, and implementing programs that ensure community participation in the economic benefits of major events.

Work Effort Work Plan Planned Outcome
Capital Projects  Align on timing, rationale, and costs of proposed capital projects.
 Review, track, and coordinate the
scheduling and implementation of capital
projects and corresponding procurement
requests with the Stadium Manager.
 Provide oversight of the Levi’s® Naming
Rights Enhanced Signage Project to
ensure completion before December 31,
2025.

Ensure Stadium is maintained in
the required condition and
operated as a quality NFL and
multi-
purpose public sports, public
assembly, exhibit, and
entertainment facility.

Compliance with Naming Rights
Agreement requirements.

SCSA

SANTA CLARA STADIUM AUTHORITY
Stadium Authority Work Plan

Page 2 of 4 ends

62  Provide oversight of bowl modifications
in compliance with the World Cup
Agreements with BAHC.
 Develop a long-term capital
improvement strategy that provides
oversight on the Facilities Condition
Assessment to guide CapEx budget
priorities, ensuring strategic investment
in stadium infrastructure.

Compliance regarding accessible
parking spaces at Stadium Main
Lot and Stadium.

Public Records
Act Requests
 Continue to streamline the Public
Records Act Request process.
 Continue to respond to records
requests in compliance with the
California Public Records Act.

Ensure public transparency while
balancing Stadium Authority
resources.

San Tomas
Aquino Creek
Trail
 By review of other venues with shallow
security perimeters and legal
documents that relate to accessing the
area, and consultation with Homeland
Security and other stakeholders,
evaluate options for keeping trail open
during events and/or providing
alternate routes if trail is closed.

Balance Creek trail access and/or
safe and/or accessible alternate
routes during NFL games and
major Non-NFL events with
Stadium-related safety and risk.

SCSA Board
Policy Manual
 Continue to create manual, beginning
with Governance and Budget policies.
 Identify areas where policies are
appropriate and propose drafts for the
Board’s approval.

Develop additional policies and
present to Board for inclusion in
manual.

SCSA Auditor
Annual Audit
Work Plan
 Review the Stadium Authority Financial
Reporting Policy with staff and external
auditors and provide feedback on best
practices.
 Provide oversight of Non-NFL Events audit
(contracted service).
 Retain consultants to perform the annual
financial audit for the Stadium Authority
(contracted service).

Promote honest, efficient,
effective and fully accountable
public agency through accurate,
independent and objective
audits.

Stadium Authority Work Plan

Page 3 of 4 ends

63 Levi’s® Stadium
Marketing Plan
Review and
Oversight
 Review the Marketing Plan in collaboration
with ManCo and a consultant to align with
SCSA’s goals.
 Analyze current marketing strategies to
ensure effectiveness.
 Provide strategic oversight to enhance
marketing efforts.
 Evaluate branding consistency for a
cohesive market presence.

Assess media plans for efficiency and return
on investment (ROI). Interpret performance
data to identify trends and areas for
improvement.

Provide strategic oversight;
manage the review process and
deliver actionable
recommendations; evaluate
marketing and branding elements
for consistency and impact;
review
media plans identifying trends and
areas for improvement.

Stadium Market
Trend Analysis
Report
 Stadium Market Trend Analysis
commissioned by the Stadium Authority.
 Examine marketing strategies for large
multi-purpose stadiums.
 Evaluate promotion methods for Non-NFL
events.
 Assess marketing plan structures used by
similar venues.
 Analyze industry trends, profitability, and
key performance metrics.
 Provide insights to benchmark stadium
performance.

Conduct a comprehensive market
analysis of Non-NFL events in
large NFL-hosting stadiums to
benchmark performance,
enhancing the Stadium Authority’s
oversight of Levi’s® Stadium.

Stadium
Authority
Procurement
Policy
 Update components of the Stadium
Authority Procurement Policy.

Ensure alignment with public
procurement best practices.

Stadium Builder
Licenses
 Continue to review and execute
Stadium Builder Licenses.
 Continue ongoing efforts to integrate
Stadium Builder Licenses into
Laserfiche records system.

Generate funds for debt
repayment.

Ensure effective recordkeeping for
audits and reference.

Stadium Authority Work Plan

Page 4 of 4 ends

64 Super Bowl LX  Provide updates to the Board and
community about the Stadium Authority
and City’s planning efforts and general
information related to Levi’s® Stadium
hosting Super Bowl LX on February 8,
2026.
 Negotiate and execute Interim Funding
and League agreement with the Bay
Area Host Committee to ensure
responsibility of City/Stadium Authority
costs.
 Continue planning efforts and
coordination with key partners including
the Bay Area Host Committee and NFL.

Provide transparency on the
Stadium Authority and City’s
planning efforts for Super Bowl
LX.

Ensure compliance with Measure
J.

Mitigate the Stadium Authority and
City’s risks and liabilities.

World Cup 2026  Provide updates to the Board and
Santa Clara community about the
Stadium Authority and City’s
obligations, planning efforts, and
general information related to Levi’s®
Stadium hosting six World Cup 2026
event from June 13 – July 1, 2026.
 Implement Assignment and
Assumption Agreement(s) with the
City, Bay Area Host Committee, and
Forty Niners Stadium Management
Company to assign responsibility of
City/Stadium Authority costs.
 Continue planning efforts and
coordination with key partners
including the Bay Area Host Committee
and FIFA.

Provide transparency on the
Stadium Authority and City’s
planning efforts for World Cup
2026.

Ensure compliance with Measure
J.

Mitigate the Stadium Authority and
City’s risks and liabilities.

FY2025 Annual Public Safety Budget (CONFIDENTIAL)
DRAFT
Amount Footnote
Public Safety Costs - Tenant (NFL Events) 3,744,000$ 1 Public Safety Costs - Authority (Non-NFL Events) 2,995,200$ 2 Public Safety Capital Expenditures (2025/26 Budget) 573,450$ 3 Amortization of 2025/26 Budgeted Public Safety Capital Expenditures 32,031$ 4 Amortization of Prior Years Public Safety Capital Expenditures included in 2025/26 Budget 241,061$ 4 Public Safety Capital Expenditure Amortization in 2025/26 Budget 273,091$ 4 Tenant's Estimated Public Safety Share 151,717$ 4 Stadium Authority's Estimated Public Safety Share 121,374$ 4 Footnotes to Schedule:
1 2
3 4
Assumes 10 home games, and that Public Safety Costs above the threshold will be paid from the Public Safety Cost Reserve .

The proposed Non-NFL Event Public Safety Cost budget is based on eight (8) events, assumed to be six (6) concerts and two (2) soccer events, for the 2025-26 fiscal year.

The Stadium Manager has received Public Safety Capital Expenditure requests from the SCSA Finance Director in December 2024 for the 2025-26 fiscal year totaling $573,450. This includes $341,000 of carryover requests for items approved in prior Capital Expenditure Plans.

Please see the 2025-26 Capital Expenditure Plan for more detail.

Public Safety Capital Expenditure amortization for the current lease year is $273,091 which includes $241,061 of amortization from prior year Capital Expenditure purchases. The Tenant's estimated Public Safety Share is $151,717 and the Stadium Authority's estimated Public Safety Share is $121,374.

DRAFT 1/31/2025
FY2025 Public Safety Capital Expenditures (CONFIDENTIAL) DRAFT
Equipment Dept Quantity Useful Life FY17/18 FY18/19 FY19/20 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Totals Kubota (4x4 gas powered UTV ambulance) Fire 1 10 15,922 - - - - - - - - 15,922 Kimtech MTD‐103 Advanced (med cart upgrade) Fire 1 10 - 8,382 - - - - - - - 8,382 Kawasaki Pro-FXT LE Black Mule (1) Police 1 10 - 17,209 - - - - - - - 17,209 Kawasaki Pro-FXT LE Black Mule (2) Police 1 10 - 17,209 - - - - - - - 17,209 Kawasaki Pro-FXT LE Black Mule (3) Police 1 10 - - 15,738 - - - - - - 15,738 Portable Radios Police 20 5 - 50,980 - - - - - - - 50,980 Automatic Chest Compressor Fire 2 5 - - 31,102 - - - - - - 31,102 Advanced Life Support Monitor Fire 1 5 - - 30,810 - - - - - - 30,810 Public Safety Command Post Dispatch System Police 1 5 179,966 179,966 CAD Replacement Police 1 5 - - 102,181 102,181 Diesel Particulate Filter for Stadium Authority Fire Truck Fire 1 10 - - 9,392 - - - - - - 9,392 APX 8500 Mobile Radio for Stadium Authority Fire Truck Fire 1 10 - - 7,150 - - - - - - 7,150 LCD3-3 Chemical Warfare Detector Fire 1 10 - - 13,734 - - - - - - 13,734 Up-Fitting Kawasaki Mules Police 3 10 - - 26,451 - - - - - - 26,451 Radio Batteries Police 1 3 - - - 19,574 19,574 Safety Gear for Special Event Officers & Traffic Control Personnel Police 1 2 5,892 5,892 Stadium Vehicles (Gator & Kubota) Upfits Fire 1 10 - - - 8,832 - - - - - 8,832 Storage Conex Garage for Apparatus Fire 1 10 - - - 12,416 - - - - - 12,416 Stadium Personal Protective Equipment Fire 1 3 45,238 45,238 Stadium Personal Protective Equipment - FY20 Rollover Fire 1 5 - - - - 14,886 - - - - 14,886 Heavy Lift Kit Fire 1 10 - - - 51,914 - - - - - 51,914 Radiation Detector Fire 1 10 - - 17,910 - - - - - 17,910 Rope Rescue Gear Kit Fire 1 10 - - - - 31,500 - - - - 31,500 Motorola APX 6000 Radio/Charger/Battery Fire 1 5 - - - 4,517 - - - - - 4,517 Motorola Earpieces Fire 25 5 - - - 952 - - - - - 952 Battery Charging Pack for JHAT Crew Fire 1 5 - - - 72 - - - - - 72 Small Cooler and Ice Pack Fire 1 5 - - - 305 - - - - - 305 Mass Contamination Hydrant Nozzles Fire 4 5 - - - 1,649 - - - - - 1,649 Motor Vehicle Barricades Police 8 10 - - - 360,892 - - - - - 360,892 EOD Blankets/Water Barrier Police 1 5 - - 13,743 - - - - - 13,743 Bicycles Police 10 5 - - - 22,734 - - - - - 22,734 Body Worn Cameras (BWCs) for Stadium Events Police 150 5 - - - 149,462 - - - - - 149,462 Permanent Changeable Signage Public Works 1 10 - - - - - - 1,000,000 1,000,000 Staff Scheduling Software Police 1 5 - - 23,750 - - - - 23,750 MCI Trailer Fire 1 10 - - - - 108,307 - - - - 108,307 Dispatch Monitors Police 16 5 - - - - 7,582 - - - - 7,582 RadHalo Remote Radiation Monitors Fire 4 10 - - - - 189,729 - - - - 189,729 PPE Replacement (Nomex Tops) - FY21 Fire 15 5 - - - - 5,759 - - - - 5,759 PPE Replacement (Nomex Bottoms) - FY21 Fire 15 5 - - - - 3,287 - - - - 3,287 Rigaku CQL 1064nm Handheld Raman Chemical Detector Fire 1 10 - - - - 50,348 - - - - 50,348 Tru Defender FTX S1 WMD Chemical Detector Fire 1 10 - - - - 61,514 - - - - 61,514 Vehicle Upfits for John Deere Gator Fire 1 10 - - - - 7,729 - - - - 7,729 Levi's Stadium Blast Analysis Police 1 1 - - - - - 119,750 - - - 119,750 PPE Replacement (Nomex Bottoms) - FY22 Fire 15 5 - - - - - - - - PPE Replacement (Nomex Tops) - FY22 Fire 15 5 - - - - - - - - Lifepak CR2 AEDs Fire 10 7 - - - - 18,464 - - - 18,464 PPE Replacement (Nomex Bottoms) Fire 5 3,381 3,381 Communication Equipment - Console (2023/24 Carryover) Police 1 10 - - - - - - - 316,000 316,000 Replace End of Life Network Equipment 2022 IT 1 7 - - - - - - 25,000 25,000 Medixsafe Narcotics Safe Fire 1 5 - - - - - - 1,675 - - 1,675 Blackline Combustible Gas Indicators Fire 1 5 - - - - - - 4,183 - - 4,183 Enclosed Trailer Police 1 10 15,283 15,283
Kawasaki Mules Police 5 10 - - - - - - - 112,596 112,596 Blackline Combustible Gas Indicator - FY24 Fire 1 5 - - - - - - - 2,727 2,727 D7 Tactical Decon Spray Fire 6 5 - - - - - - - 524 524 RAID 8 Multi Agent Detection Kit Fire 1 5 - - - - - - - 1,814 1,814 Fire Station 9 Storage Cabinets Fire 2 20 - - - - - - - 2,793 2,793 Replace End of Life End User Equipment (FY25/26) IT 11 5 - - - - - - - - 17,500 17,500 Touchscreen Dispatch Monitors Police 4 5 - - - - - - - - 2,850 2,850 Temporary Holding Facility (THF) Computer Work Stations Police 2 5 - - - - - - - - 5,000 5,000 Kawasaki ATVs and Kimtek Pump Module Fire 2 10 - - - - - - - - 70,000 70,000 Kawasaki ATV (FY25/26) Fire 1 10 - - - - - - - - 30,000 30,000 Kubota Storage Box Fire 1 15 - - - - - - - - 7,000 7,000 Lightweight Chemical Detector (LCD) 4.0 Fire 1 10 - - - - - - - - 20,000 20,000 Secure Law Enforcement Resource Area Police 1 15 - - - - - - - - 35,000 35,000 E-Bikes (FY25/26) Police 8 5 - - - - - - - - 28,000 28,000 Staff Scheduling Software (FY25/26) Police 1 5 - - - - - - - - 17,100 17,100 Totals 15,922$ 273,746$ 236,558$ 739,852$ 480,641$ 138,214$ 24,522$ 1,120,454$ 573,450$ 3,603,358$ DRAFT 1/31/2025
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FY2025 Public Safety Capital Expenditures (CONFIDENTIAL) DRAFT
Equipment In Svc Date Estimate Useful Life FY17/18 FY18/19 FY19/20 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Totals Kubota (4x4 gas powered UTV ambulance) Mar-18 10 - 1,592 1,592 1,592 1,592 1,592 1,592 1,592 1,592 12,738 Kimtech MTD‐103 Advanced (med cart upgrade) Mar-19 10 - - 838 838 838 838 838 838 838 5,867 Kawasaki Pro-FXT LE Black Mule (1) Mar-19 10 - - 1,721 1,721 1,721 1,721 1,721 1,721 1,721 12,046 Kawasaki Pro-FXT LE Black Mule (2) Mar-19 10 - - 1,721 1,721 1,721 1,721 1,721 1,721 1,721 12,046 Kawasaki Pro-FXT LE Black Mule (3) Jul-19 10 - - 1,180 1,574 1,574 1,574 1,574 1,574 1,574 10,623 Portable Radios Mar-19 5 - - 10,196 10,196 10,196 10,196 10,196 - - 50,980 Automatic Chest Compressor Jul-19 5 - - 4,665 6,220 6,220 6,220 6,220 1,555 - 31,102 Advanced Life Support Monitor Jul-19 5 - - 4,622 6,162 6,162 6,162 6,162 1,541 - 30,810 Public Safety Command Post Dispatch System Mar-19 5 - - 35,993 35,993 35,993 35,993 35,993 - - 179,966 CAD Replacement Mar-19 5 - - 20,436 20,436 20,436 20,436 20,436 - - 102,181 Diesel Particulate Filter for Stadium Authority Fire Truck Jul-19 10 - - 704 939 939 939 939 939 939 6,340 APX 8500 Mobile Radio for Stadium Authority Fire Truck Jan-20 10 - - 179 715 715 715 715 715 715 4,469 LCD3-3 Chemical Warfare Detector Oct-19 10 - - 687 1,373 1,373 1,373 1,373 1,373 1,373 8,927 Up-Fitting Kawasaki Mules Jul-19 10 - - 1,984 2,645 2,645 2,645 2,645 2,645 2,645 17,854 Radio Batteries Mar-21 3 - - - - 6,525 6,525 6,525 - - 19,574 Safety Gear for Special Event Officers & Traffic Control Personnel Mar-21 2 - - - - 2,946 2,946 - - - 5,892 Stadium Vehicles (Gator & Kubota) Upfits Mar-21 10 - - - - 883 883 883 883 883 4,416 Storage Conex Garage for Apparatus Sep-20 10 - - - 1,242 1,242 1,242 1,242 1,242 1,242 7,450 Stadium Personal Protective Equipment Mar-21 3 - - - - 15,079 15,079 15,079 - - 45,238 Stadium Personal Protective Equipment - FY20 Rollover Mar-22 5 - - - - - 2,977 2,977 2,977 2,977 11,909 Heavy Lift Kit Oct-20 10 - - - 2,596 5,191 5,191 5,191 5,191 5,191 28,553 Radiation Detector Jan-21 10 - - - 448 1,791 1,791 1,791 1,791 1,791 9,403 Rope Rescue Gear Kit Dec-21 10 - - - - 788 3,150 3,150 3,150 3,150 13,388 Motorola APX 6000 Radio/Charger/Battery Mar-21 5 - - - - 903 903 903 903 903 4,517 Motorola Earpieces Mar-21 5 - - - - 190 190 190 190 190 952 Battery Charging Pack for JHAT Crew Mar-21 5 - - - - 14 14 14 14 14 72 Small Cooler and Ice Pack Mar-21 5 - - - - 61 61 61 61 61 305 Mass Contamination Hydrant Nozzles Mar-21 5 - - - - 330 330 330 330 330 1,649 Motor Vehicle Barricades Jan-21 10 - - - 9,022 36,089 36,089 36,089 36,089 36,089 189,468 EOD Blankets/Water Barrier Jan-21 5 - - - 687 2,749 2,749 2,749 2,749 2,061 13,743 Bicycles Dec-20 5 - - - 1,137 4,547 4,547 4,547 4,547 3,410 22,734 Body Worn Cameras (BWCs) for Stadium Events Oct-20 5 - - - 14,946 29,892 29,892 29,892 29,892 14,946 149,462 Permanent Changeable Signage Mar-25 Est 10 - - - - - - - - 90,000 90,000 Staff Scheduling Software Jun-20 5 - - - 3,563 4,750 4,750 4,750 4,750 1,188 23,750 MCI Trailer Mar-22 10 - - - - - 10,831 10,831 10,831 10,831 43,323 Dispatch Monitors Mar-22 5 - - - - - 1,516 1,516 1,516 1,516 6,065 RadHalo Remote Radiation Monitors Mar-22 10 - - - - - 18,973 18,973 18,973 18,973 75,892 PPE Replacement (Nomex Tops) - FY21 Mar-22 5 - - - - - 1,152 1,152 1,152 1,152 4,607 PPE Replacement (Nomex Bottoms) - FY21 Mar-22 5 - - - - - 657 657 657 657 2,630 Rigaku CQL 1064nm Handheld Raman Chemical Detector Dec-21 10 - - - - 1,259 5,035 5,035 5,035 5,035 21,398 Tru Defender FTX S1 WMD Chemical Detector Dec-21 10 - - - - 1,538 6,151 6,151 6,151 6,151 26,143 Vehicle Upfits for John Deere Gator Sep-21 10 - - - - 386 773 773 773 773 3,478 Levi's Stadium Blast Analysis Mar-23 1 - - - - - - - - - - PPE Replacement (Nomex Bottoms) - FY22 Mar-23 5 - - - - - - - - - - PPE Replacement (Nomex Tops) - FY22 Mar-23 5 - - - - - - - - - - Lifepak CR2 AEDs Mar-22 7 - - - - - - 3,297 2,638 2,638 8,573 PPE Replacement (Nomex Bottoms) Sep-23 5 - - - - - - 338 676 676 1,691 Communication Equipment - Console (2023/24 Carryover) Oct-25 Est 10 - - - - - - - - 15,800 15,800 Replace End of Life Network Equipment 2022 Oct-25 Est 7 - - - - - - - - 1,786 1,786 Medixsafe Narcotics Safe Dec-23 5 - - - - - - 84 335 335 754 Blackline Combustible Gas Indicators Dec-23 5 - - - - - - 209 837 837 1,882 Enclosed Trailer Dec-22 6 - - - - - - 1,910 1,528 1,528 4,967 Kawasaki Mules Sep-24 10 - - - - - - - 6,568 11,260 17,828 Blackline Combustible Gas Indicator - FY24 Jun-24 5 - - - - - - - 455 545 1,000 D7 Tactical Decon Spray Jun-24 5 - - - - - - - 87 105 192 RAID 8 Multi Agent Detection Kit Jun-24 5 - - - - - - - 302 363 665 Fire Station 9 Storage Cabinets Sep-24 20 - - - - - - - 81 140 221 Replace End of Life End User Equipment (FY25/26) Oct-25 Est 5 - - - - - - - - 1,750 1,750 Touchscreen Dispatch Monitors Oct-25 Est 5 - - - - - - - - 285 285 Temporary Holding Facility (THF) Computer Work Stations Oct-25 Est 5 - - - - - - - - 500 500 Kawasaki ATVs and Kimtek Pump Module Oct-25 Est 10 - - - - - - - - 3,500 3,500 Kawasaki ATV (FY25/26) Oct-25 Est 10 - - - - - - - - 1,500 1,500 Kubota Storage Box Oct-25 Est 15 - - - - - - - - 233 233 Lightweight Chemical Detector (LCD) 4.0 Oct-25 Est 10 - - - - - - - - 1,000 1,000 Secure Law Enforcement Resource Area Oct-25 Est 15 - - - - - - - - 1,167 1,167 E-Bikes (FY25/26) Oct-25 Est 5 - - - - - - - - 2,800 2,800 Staff Scheduling Software (FY25/26) Oct-25 Est 5 - - - - - - - - 1,710 1,710 Totals -$ 1,592$ 86,518$ 125,766$ 209,280$ 256,525$ 259,418$ 169,570$ 273,091$ 1,381,762$ Events with tickets sold or available for sale > 20k FY17/18 FY18/19 FY19/20 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Totals NFL (StadCo) Events 10 10 12 10 10 12 12 10 10 96
SCSA Events 10 9 5 0 0 7 7 8 8 54
Total Events 20 19 17 10 10 19 19 18 18 150
StadCo Proportion 50% 53% 71% 100% 100% 63% 63% 56% 56% 64% SCSA Proportion 50% 47% 29% 0% 0% 37% 37% 44% 44% 36%
Depreciation Split FY17/18 FY18/19 FY19/20 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY24/25 Totals StadCo Depreciation - 838 61,072 125,766 209,280 162,016 163,843 94,206 151,717 817,021 SCSA Depreciation - 754 25,447 - - 94,509 95,575 75,365 121,374 291,650 Totals -$ 1,592$ 86,518$ 125,766$ 209,280$ 256,525$ 259,418$ 169,570$ 273,091$ 1,108,670$ DRAFT 1/31/2025
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-

STADIUM
2025 Levi's Stadium Events
Marketing Plan
January 31, 2025

DRAFT VERSION
Table of Contents
Levi's Stadium Events Definitions and Profiles .................................................................................................... 2 Levi's Stadium Private Events ................................................................................................................................. 3 Looking Back ................................................................................................................................................. 3 Looking Forward ........................................................................................................................................ 13 Levi's Stadium Public Events ................................................................................................................................. 15 Looking Back ............................................................................................................................................... 15 Looking Forward ........................................................................................................................................ 18 Conclusion ................................................................................................................................................................ 22 1 DRAFT VERSION
Levi's Stadium Events Definitions and Profiles
The Levi's Stadium Events business comprises two overarching event categories: Public Events and Private Events.

Public Events at Levi's Stadium are large-scale, ticketed experiences open to the public, showcasing the stadium's versatility and appeal. These events have successfully driven local economic growth, heightened brand recognition, and solidified Levi's Stadium's reputation as a world-class venue. From hosting diverse leagues, artists, sports, and attractions, Public Events have positioned the stadium as an iconic destination for high-profile gatherings. This consistent prominence not only sustains Levi's Stadium's status in the public eye but also contributes to the growth of its Private Events sector within the Non-NFL Event business, while attracting even more marquee events to the venue.

Private Events are typically catered, non-ticketed, and exclusive, tailored to the nature ofthe occasion and the client's goals. These events cover a broad spectrum, including weddings, corporate anniversaries, charitable fund raisers, and conferences, and constitute the majority of the venue's event calendar. The Private Events sales pipeline thrives on strong relationships with local businesses, bolstered by our reputation and extensive experience in hosting diverse events. Additionally, the prestige of our venue - renowned for hosting high-profile events like 49ers games, the Super Bowl, COPA America, College Football Playoff National Championship, WrestleMania, and concerts by renowned artists adds to its appeal. Our focus extends beyond the immediate profitability of our business to fostering meaningful client relationships and finding innovative ways to enhance the guest experience. 2 DRAFT VERSION
Levi's Stadium Private Events
Looking Back
At the beginning of 2024, the Levi's Stadium Events team was filled with excitement for the year ahead.

Amid the celebration of the significant economic impact of Levi's Stadium's 10-year anniversary and the anticipation of hosting prestigious events like Super Bowl 60 and the FIFA World Cup on a global stage, the team was motivated to embrace the journey as Levi's Stadium solidified its position as a premier destination for world-class events.

This past year marked another successful chapter in managing a wide variety of events, including public and private. With a fully equipped sales and service team prepared to tackle any challenge, the team fostered stronger relationships with internal stakeholders, capitalized on revenue opportunities through participation in industry marketing events, and effectively managed the increasing client interest in events connected to the stadium's legacy.

While navigating plans for stadium upgrades in 2025, the team effectively utilized internal communication and efficient calendar management to execute another year of high-volume quick-turn events, managed the return of large-scale private events, and met the growing demand for unique experiences. Reflecting on the year, there is much to celebrate: exceeding sales goals with five months remaining in the fiscal year, outstanding client survey results, and a strong pipeline of event opportunities.

Focus on Large-Scale Private Event Prospecting
The demand for large-scale events reached an all-time high this year, with clients showing renewed interest in hosting major employee celebrations at unique venues like Levi's Stadium. For the first time since pre-COVID, there was a significant uptick in requests for large-scale events, and the Private Event Sales team took a proactive and strategic approach to securing these opportunities. This included participating in networking events to foster relationships with clients and third-party planners representing major Silicon Valley corporations, organizing tailored client site visits to highlight the stadium's spaces, and working closely with internal stakeholders to create competitive proposals, all while maintaining clear and transparent communication throughout the multi-month contracting process.

In March, the team was challenged to think beyond standard receptions, successfully securing the stadium's largest private event since 2015, which hosted 6,000 guests. This milestone marked the beginning of a busy season, with the team receiving an overwhelming amount of interest for summer and holiday events, many requiring the activation of additional club spaces for 2,000+ guests.

Understanding that clients seeking large-scale events require trusted relationships with venues, both sales and service teams worked together to leverage the stadium's identity, providing exceptional 3 DRAFT VERSION
service from start to finish. This commitment to client satisfaction was key to securing and delivering on these significant events.

Develop Local Partnerships to Drive Event Opportunities In 2024, the events team leaned into strategic partnerships with the Adm in Awards and Unique Venues to get in front of key decision-makers to keep Levi's Stadium top of mind. Our partnerships showcased the stadium to a local audience of SF Bay Area and Silicon Valley organizations to push beyond brand awareness and exposure to drive revenue through booked events.

Admin Awards
The Levi's Stadium Events team renewed its partnership with the Adm in Awards as a premier award presenter sponsor for the Silicon Valley and San Francisco Admin Awards, honoring administrative professionals in the Bay Area at their annual event.

This sponsorship positioned Levi's Stadium Events prominently on the Adm in Awards' website, as well as across all digital marketing, promotional materials, and communications. The sales team was invited to join the Admin Awards' Advisory Board for monthly preparation meetings, gaining additional exposure to over 40 administrative professionals from across the Bay Area. These relationships were nurtured through curated site visits with full administrative teams and participation in Adm in Awards' two promotional events, Admins Around the World, offering in-person opportunities to showcase the stadium as a venue for private events. At the Awards event, the sales team volunteered at the registration desk, engaging directly with attendees, and presented the Loyalty Award, receiving sponsor recognition during the program. After the event, the sales team was provided with a list of over 200 attendees, including nominees and winners, which became a valuable resource for outbound selling opportunities throughout the year.

The Adm in Awards proved to be an essential resource for the sales team, who utilized the attendee list for internal email campaigns and invitations to the return of the Levi's Stadium Events client showcase in September. Additionally, the Adm in Awards team personally invited their full database of Silicon Valley and San Francisco administrative professionals to attend our client showcase, driving greater meaningful attendance. This partnership has provided a lasting opportunity to build relationships with Bay Area administrative professionals, who are often key decision-makers alongside C-Level executives.

Unique Venues
This year, the events team maintained its membership with Unique Venues, an online platform that connects event planners with distinctive venues like Levi's Stadium. As part of the membership, the team benefits from an enhanced online profile featuring photos, videos/360 tours, premium placement in search results, and two regional email marketing campaigns. 4 DRAFT VERSION
In addit ion to the website listing, the sales team collabora t ed with t he Unique Venues representative to send out two targeted regional email campaigns to 8,366 event professionals. These emails resulted in 2,237 opens and 284 clicks, achieving an average click-to-open (CTO) rate of 13%.

April: "A Recommendation from Unique Venues"
Experience the allure of Levi's® Stadium as the setting for your upcoming event. Nestled in the heart of Silicon Valley , our dedicated Levi's® Stadium Events Team stands ready
to collaborate with you in orchestrating a one-of -a-kind event within the stadium's captivating array of event
spaces , ideal for any occasion . Join us and choose Levi's® Stadium as your next event destination , and reserve an experience that is truly unparalleled .

GET INTOUCH
August: "Unique Venues I Tis the Season for Stadium Events" 5 Tis the Season for Stadium Events
Be Our Guest!
From sporting events and
concerts to corporate
conferences and private
celebrations, Levi's@ Stadium
offers a unique backdrop for
your next holiday event.

Where every attendee is not
just a participant, but a
cherished guest. Together,
let's foster genuine
connections, ignite creativity.
and leave lasting impressions!
Get lntouch

DRAFT VERSION
6 DRAFT VERSION
Focus on Content and Brand Awareness
The events team concentrated on enhancing content and brand awareness by sending email marketing notifications to our internal database, which includes more than 6,000 accounts.

April: "A Heartfelt Thank You!"
cheers
to
YOU!
June: "Hello from Levi's® Stadium!"
Be Our Guest
4900 MARIE P. DEBARTOLO WAY
SANTA CLARA, CA 95054
Levi's• Stadium is the perfect venue for
your next unforgettable summer event.

FUN FACT: Did you know that our
plazas are available for outdoor receptions
and company picnics?!
Reach out to our team today to secure
one of our few summer dates left!
See you soon,
"!!#1!"
>>CHECK US OUT!<<
September: "Score Big with Your Next Event!"
7 DRAFT VERSION
November: ''Thankful"
8 DRAFT VERSION
2024 Marketing Campaign Performances
Campaign Name Date Emails Emails % Clicks %
Delivered Opened Opened Clicked
A Heartfelt Thank You! 4.24 776 271 34.92% 12 1.55%
A Recommendation from Unique Venues 4.25 4,207 1,146 27.24% 51 1.21% Hello from Levi's Stadium 6.20 6,401 2,027 31.67% 307 4.80% Unique Venues 8.20 4,159 1,091 26.23% 233 5.60% Tis the Season for Stadium Events Score Big with Your Next Event! 9.25 6,157 1,861 30.23% 215 3.49% Thankful 11.21 6,281 1,896 30.19% 251 4.00%
TOTAL 27,981 8,291 29.63% 1069 3.82%
Timeless Traditions Client Showcase
Our team hosted a client showcase on September 11th to highlight our event spaces-our first since 2019! The event welcomed approximately 160 active prospects, clients, and business partners, offering them an exclusive preview of what we provide for private events. We focused on showcasing the stadium through the lens of meetings and events.

Throughout the year, our Event Service team has fostered strong relationships with Bay Area vendor partners, securing nine external vendors to showcase their event entertainment and decor offerings at the showcase, allowing our clients to experience them firsthand. Additionally, our team made the most of 49ers-themed enhancements, such as Super Bowl trophies, Niner Noise, Sourdough Sam, and the Gold Rush, to create an immersive experience for private events. These features were strategically placed throughout the club space to inspire clients for their upcoming events at Levi's Stadium. We are CTOR

4.43%

4.45%

15.15%

21.36%

11.55%

13.24%

12.89%
9 DRAFT VERSION
excited to report that five of the nine external vendors from this showcase secured entertainment business for our 2024 holiday party season, providing additional net revenue to the Stadium Authority.

Following the showcase, the sales team received six site visit requests for holiday parties and 2025 events. Shortly after, the sales team launched a holiday promotion to attract more holiday parties and successfully secured one booking as a result of the event. The showcase proved that clients truly appreciate experiencing the stadium's beauty firsthand, and the event was successful in demonstrating the venue's potential. We also received positive feedback from our preferred vendors, noting that the room was filled with key decision-makers. We're excited to see the long-term impact of this event unfold.

MPI NCC ACE
Levi's Stadium Events Sales team attended MPl's Northern California Chapter's Annual Convention Expo in San Francisco. This immersive two-day conference went beyond the traditional conference setup by engaging in hands-on experiences, interactive discussions, and dynamic sessions that challenge perspectives and fuel imagination for the future of events. Gathering over 350 planners and fellow suppliers, this year sparked discussions around the navigation through quick decision challenges, effective communication with clients, leadership today in a world of multi-generations, and Al's role within the events industry - which is helping event professionals do more with less time. The events team gained fresh insights within the market, networked with industry leaders, and left inspired to drive impactful change for events in the stadium.

IMEX
The events team returned to IMEX America this year, the largest trade show in the US for the global meetings, events, and incentive travel industry. The show took place in October in Las Vegas and hosted a new record 15,500 buyers, visitors, and exhibitors. Of the 15,000 participants, 5,500 hosted buyers participated in more than 86,000 prescheduled meetings with exhibitors.

The events sales team attends IMEX America each year to gauge trends from industry peers and California convention and visitors bureaus (CVBs). During the three-day show, the team meets with event planners and fellow suppliers on the trade show floor and at networking events.

In addition to networking and client prospecting, the sales team was able to join educational sessions and learn about current trends and what's on the horizon for the meetings and events industry. Some of the learnings include:
• Collaboration with local CVBs is vital for reshaping the narrative for clients unfamiliar with the unique opportunities offered by venues like Levi's Stadium. We recognize that when clients choose a venue, they are also choosing a destination. Therefore, it is crucial for venues like Levi's Stadium to collaborate with local destinations to showcase the vibrant city of Santa Clara. 10 DRAFT VERSION
• It is essential to be an ally and partner to destinations - when a destination thrives, so do venues like Levi's Stadium.
• "Quick Turn" events continue to rise, with clients often seeking to host events within the same month they're sourced. This year's conference revealed that mass layoffs have forced event teams to delay planning until the last minute. Clients are also more focused on strict budgets, often relying on familiar venues with inclusive pricing options like Levi's Stadium. • Budget constraints are a factor, but clear and trusted communication is paramount. Clients prefer to work with representatives they trust.
• Leveraging deeper engagement creates lasting impressions.

Connect West
On November 6 - 8, 2024, qualified representatives from CVBs, hotels, event venues, and convention centers gathered at Connect West in Los Angeles to meet with professional meeting planners from around the western region. Connect West is a B2B conference for event professionals based in California, Nevada, Utah, Arizona, and New Mexico. This two-day conference featured 250 attendees, including over 80 qualified buyers from a variety of corporate/association organizations and industries.

The planners were required to have active event RFPs with the primary goal of meeting with suppliers to plan future meetings and events in the Western U.S.

The Levi's Stadium Events sales team attended 25 one-on-one appointments with event planners and joined networking and educational sessions. Of the 25 appointments, the sales team walked away with seven qualified leads or interested buyers for Levi's Stadium, which included companies in the retail, technology, non-profit, insurance, and healthcare industries.

In addition to the contacts made, the sales team was able to take away some valuable information related to industry trends and future forecasting. A few of the key takeaways from the event included:
• The events team learned from local leaders about tackling Western region-specific industry trends and challenges.
o In-person events are resurging, with 89% of global event leaders citing them as critical for revenue growth.
o Experiential events are in high demand, pushing organizers to find unique venues that support immersive, interactive experiences.
• As organizations rebound from a year of widespread layoffs, they are increasing budgets and hosting events to promote meaningful in-person engagement with clients, partners, and employees.
11 DRAFT VERSION
• As for the future of Levi's Stadium, clients have expressed significant excitement about the future of Levi's Stadium as an event venue, particularly with two major global events scheduled for 2026. They highlighted that Bay Area organizations are likely to see strong demand for private events, with attendees eager to walk through the stadium doors and experience its vibrant energy.
60 External Contracted Events and Holiday Party Success Increasing the number of external events at Levi's Stadium was a key focus for the sales team. As of November, we have successfully exceeded last year's total, securing 60 external events and counting.

Since January, the team has qualified over 736 event opportunities (513 leads since April). While not all opportunities can be realized due to stadium availability, budgets, and event scopes, the demand for private events remains strong.

Securing holiday party bookings was another priority for the team ahead of the fall season. This year, we surpassed our previous number of holiday parties in December 2023 and doubled the revenue, demonstrating that clients are investing in creating memorable, experiential events at the stadium.

Quick Turn Events
Over the past three years, Levi's Stadium Events has seen a significant increase in event opportunities, with many clients requesting venues for events scheduled less than 30 days in advance. We categorize these events as "quick-turn events". Quick-turn events require prompt attention during the sales process to generate proposals and finalize agreements within a limited timeframe. They demand swift decisions from clients and clear communication across internal departments. In terms of service, these events can present challenges with external rental windows and place pressure on logistics planning for the stadium within a condensed schedule. Of the 60 events secured in 2024, 28% of these events (17 events since April) were booked with a lead time of less than four weeks. event Supplier Network Booked Events
The event Supplier Network is a platform that allows event planners to search for venues, compare destinations, and explore group promotions from a range of hotels, suppliers, and destinations. Levi's Stadium Events keeps an active profile to encourage clients to choose the stadium for private events and meetings. In the past year, we've received eight RFPs for 2024 through the event Supplier Network and successfully secured two private events at Levi's Stadium for 2024-2025. These events include a holiday party and a conference, and we look forward to maximizing opportunities in the year ahead.

Continued Success with Client Satisfaction Scores
12 DRAFT VERSION
The events team consistently surpasses client survey score expectations. This year, the service team achieved an average client satisfaction score of 4. 7 out of 5 on the post-event surveys for external events. Each client receives a survey after their event, providing an opportunity to give feedback on various aspects of their experience at Levi's Stadium, including the booking and event planning processes, food and beverage quality, and the event day experience, covering parking, stadium security, cleanliness, and audio-visual services. The service team has supported over 60 external events and eight public events.

Post-Event Client Survey Scores (averages):
• Event Sales: 4.6/5
• Event Service: 4.7/5
• On pace to 4.5+ average client satisfaction survey score 2024 Key Performance Indicators (KPls)
2024 Vear-to-Date Performance 2024 Goal VTD Variance
Gross Revenue $5,000,000 $5,715,000 +$715,000
Client Satisfaction Scores (1-5)
Event Sales 4.5+ 4.6
Event Planning 4.5+ 4.7
Overall Experience 4.5+ 4.7
Looking Forward
Leverage Current Customer Base to Land and Expand
As we prepare for Levi's Stadium's major events in 2026, next year will be a time to take a strategic approach focused on deepening relationships with our existing clients, encouraging repeat business, and increasing the lifetime value of each client interested in Levi's Stadium. Our efforts will be centered around our current business from the 2024 calendar year, targeting large Silicon Valley organizations to capture more event opportunities across multiple departments within these companies. We've already seen the success of this strategy earlier this year when we received over 15 event opportunities from a single Bay Area organization, resulting in five secured events at Levi's Stadium. Additionally, four other Bay Area organizations booked more than one private event with us within the same year. We plan to continue nurturing these relationships to ensure our clients trust our team with future private events.

This collaborative effort across our team and partners will be a key focus for 2025. 13 DRAFT VERSION
Maximize Strategic Partnerships with DMO and Industry Events Levi's Stadium Events is partnering with Madden Media on behalf of Discover Santa Clara for the inaugural 2025-2026 Official Discover Santa Clara Guide. This initiative will highlight the best of what Santa Clara has to offer, with a focus on Levi's Stadium as a premier private event venue. The first-ever Santa Clara Visitors Guide will feature 75,000 printed copies, along with a digital version, designed to showcase the city's top attractions. This partnership marks the beginning of a new collaboration with the Discover Santa Clara team, aimed at increasing our exposure to visitors and driving revenue for Levi's Stadium as a top off-site venue in Santa Clara.

This past year, the sales team heard directly from clients and industry peers about how essential destination management companies like Discover Santa Clara are to off-site venues such as Levi's Stadium. When destinations succeed, venues like ours thrive. We are excited about the opportunities this collaboration will bring in the year ahead.

Client Retention During Stadium Upgrades
As we look ahead to an exciting 2026, the events team recognizes the significance of upgrading our club spaces to ensure the success of future public and private events at Levi's Stadium. Now, more than ever, our team is committed to maintaining clear, consistent, and transparent communication with clients regarding 2025 private events. We are dedicated to sharing information as we receive it, ensuring our clients know we are always focused on providing solutions throughout their event planning process.

Keeping clients informed about potential impacts and proactively addressing concerns will be central to our sales and service approach. We aim to shift the narrative by highlighting how these upgrades will enhance the private event experience, allowing clients to envision the long-term benefits. Our goal for the coming year is to build trust with all clients interested in hosting private events at the stadium and exceed their expectations at every step.
14 DRAFT VERSION
Levi's Stadium Public Events
Looking Back
Since opening in 2014, Levi's Stadium has become a premier destination for the world's top entertainment acts and sporting events, significantly boosting Santa Clara's economy and reputation. To date, the stadium has generated over $2 billion in positive economic impact through 49ers games, Super Bowl 50, and a variety of public events.

Securing Super Bowl LX and FIFA World Cup 2026 further solidified the stadium's standing as a leading venue for monumental events. The resulting wave of positive press reinforced Levi's Stadium as a top choice for promoters when planning their next major event. The momentum directly contributed to one of the most successful years in the stadium's history. Between May and July, Levi's Stadium hosted three concerts and five soccer matches, all delivering strong profitability.

Beyond generating revenue from ticket fees, concessions, and merchandise, public events enhanced the experience for SBL holders. Members benefited from priority presale access to premium seating for many events and shows before tickets became available to the general public.

Public Events in 2024
Thanks to strategic planning and diligent efforts, the events team successfully hosted eight full-stadium events at Levi's Stadium, showcasing a diverse range of entertainment and sports:

San Jose Earthquakes vs. Los Angeles FC
The San Jose Earthquakes marked their 50th anniversary with Northern California's largest Cinco de Mayo celebration, highlighted by a thrilling 3-1 victory over LAFC in front of 43,774 fans.

Luke Combs
Two sold-out shows by the 2x CMA Entertainer of the Year highlighted Levi's diverse lineup.

Combs performed hits and debuted a new rendition ofTracy Chapman's "Fast Car," which topped Billboard's Country Airplay chart for five weeks.

CONMEBOL Copa America: Ecuador vs. Venezuela and Brazil vs. Colombia Building on the momentum of securing FIFA World Cup 2026, Levi's Stadium hosted two matches from this prestigious tournament. Brazil vs. Colombia broke an attendance record with over 70,000 fans, becoming one of the stadium's most profitable soccer events.

The Rolling Stones
The legendary rock band delivered an unforgettable show, performing iconic hits like "Gimme Shelter" and "Satisfaction." This concert followed the success of their Grammy-nominated album Hackney Diamonds.
15 DRAFT VERSION
Chelsea vs. Wrexham
As part of the Wrex Coast Tour, Levi's Stadium hosted Chelsea F.C., a six-time Premier League champion, and Wrexham AFC, co-owned by Ryan Reynolds and Rob McElhenney. The match spotlighted Wrexham's growing popularity, fueled by the Emmy-winning series Welcome to Wrexham.

Leagues Cup: San Jose Earthquakes vs. Chivas
For the first time, Levi's Stadium hosted a Leagues Cup match featuring the San Jose Earthquakes and Chivas Guadalajara. This historic event marked Chivas' debut in the Bay Area and drew a record-breaking crowd of 50,675 fans. The match culminated in a thrilling penalty shootout victory for the Earthquakes.

The events team's proactive approach and strong relationships with promoters were crucial in overcoming scheduling challenges and securing these high-profile events. Our flexibility and commitment, coupled with the City Council's decision to welcome a limited number of weeknight concerts, ensured an exceptional season, with eight events successfully executed in just three months.

Profitability
In addition to hosting eight unique events, the events team achieved exceptional profitability for each.

By strategically evaluating every revenue-generating vertical, deal terms were negotiated that maximized overall net profit. While prioritizing financial success, we collaborated closely with promoters to establish mutually beneficial agreements, fostering strong, long-lasting partnerships.

Diverse Line-Up
The events team remains committed to proactively securing a diverse mix of events to expand and diversify our attendee and customer base. The 2024 concert lineup featured a range of music genres, including country and rock, appealing to varied audiences.

We also leveraged the positive press surrounding FIFA World Cup 2026 to engage Northern California's growing soccer community. This included hosting matches from MLS teams, National teams, Premier League teams, Liga MX teams, and EFL League teams, including two prestigious tournaments: Copa America and Leagues Cup.

Gridiron Stadium Network
The events team plays a significant role in the Gridiron Stadium Network (GSN). The Head of Levi's Stadium Events served as Vice Chairperson for two years and currently holds the position of Chairperson.
16 DRAFT VERSION
The Gridiron Stadium Network was founded to raise awareness and promote the unique assets of its member stadiums. Currently representing 16 NFL venues, the GSN focuses on maximizing opportunities and enhancing the utilization of these state-of-the-art facilities for a variety of events, including sports, entertainment, and public or private gatherings. The network supports its members in attracting and developing events, whether for a single venue or multiple locations. From sold-out concerts and major sporting events to smaller shows and conferences, GSN members are committed to delivering exceptional experiences for audiences, performers, and corporate, community, and third-party partners.

GSN convenes monthly and hosts an annual in-person meeting. Participation in this conference is crucial for staying informed on industry trends, sharing best practices, and maintaining relevance within the stadium managers' network.

Proactive Outreach
Building and maintaining strong relationships within the live entertainment industry is essential for achieving a successful event calendar. In-person meetings have consistently proven to be the most effective way to foster these connections, as they often lead to new opportunities for Levi's Stadium.

With the approval of the travel and entertainment budget, the events team conducted proactive outreach and secured numerous in-person meetings with key decision-makers to position Levi's Stadium as a premier venue for large-scale events in Santa Clara.

During the fiscal year, the team successfully arranged over 30 in-person meetings with leading industry promoters, reinforcing relationships and driving opportunities for future events.

Public Events Secured for 2025
The events team has already successfully secured four events for 2025:

Metallica
Metallica announced that its record-breaking Ml2 World Tour will extend into a third year highlighting the band's debut performances at Levi's Stadium. Since its launch in April 2023 in Amsterdam, M72 has drawn an audience of approximately three million fans. The tour has received widespread acclaim, described as "an altogether life-affirming experience" (Billboard), "impossible to leave unsatisfied" (Austin Chronicle), "a stone-cold stunner of a show" (Detroit News), "the mother of all summer concerts" (Worcester Telegram Gazette), and "as tight and furious as Meta Iii ca has sounded in ages" (Los Angeles Times). The 2025 leg of the Ml2 World Tour will carry on the celebrated No Repeat Weekend tradition, with each of the two-night performances featuring completely unique setlists and support acts.

CONCACAF Gold Cup
Levi's Stadium has been chosen as a host venue for the prestigious CONCACAF Gold Cup. The tournament's 18th edition will take place next summer, running from June 14 to July 6, and will 17 DRAFT VERSION
showcase 16 men's national teams. With the FIFA World Cup 2026 just a year away, the Gold Cup offers a high-stakes competition for the region's top teams and an exciting opportunity for fans to connect with the sport during a critical moment for its growth across North America, Central America, and the Caribbean.

San Jose Earthquakes vs. Los Angeles FC
The Earthquakes will host their match against LAFC at Levi's Stadium for the third consecutive year on September 13th. Levi's Stadium has proven to be a stronghold for the Quakes, highlighted by last year's impressive victories: a 3-1 win over LAFC in front of 43,774 fans and a thrilling penalty shootout victory against Mexican powerhouse Chivas Guadalajara, which set a Leagues Cup attendance record with 50,675 spectators. This year, the match coincides with Mexican Independence Day Weekend, promising celebrations that will once again create a lasting impact on the community.

Looking Forward
Gridiron Stadium Network
Moving forward, the events team will continue to leverage the Gridiron Stadium Network to strengthen connections with promoters and secure additional stadium content. Monthly meetings foster discussions and provide valuable insights into upcoming stadium tours, which are critical for securing major shows.

Continued Proactive Outreach
To maintain industry relevance and ensure the continued success of the public events business, proactive networking and relationship-building with key decision-makers remain essential.

The events team experienced significant benefits from in-person meetings and touchpoints in 2024, and we aim to build on those practices in 2025.

Using the approved travel and entertainment budget, we will once again engage with top promoters in the major events industry. These meetings are vital for strengthening existing relationships. In addition to maintaining outreach with promoters already conducting business at the stadium, we will prioritize outbound meetings with new promoters and decision-makers who have yet to host events at Levi's Stadium. This ongoing effort to evaluate new opportunities and explore unique small, mid, and large scale events will help expand our network, driving new business and increased revenue.

Beyond in-person meetings, the events team will also leverage the approved travel and entertainment budget to attend industry-related conferences. As the sports and entertainment landscape continues to evolve, staying informed about emerging trends, insights, and ideas presented at these conferences is critical to maintaining our competitive edge.
18 DRAFT VERSION
Leverage Organic Assets
The events team will continue to utilize Levi's Stadium and 49ers organic assets to maximize the visibility and viewership of upcoming events across multiple platforms.

We will continue promoting public events through digital video boards during 49ers home games and on non-event days. Additionally, events will be featured across Levi's Stadium and 49ers digital and social channels, including dedicated event pages on the levisstadium.com website and targeted email campaigns.

Levi's Stadium's subscriber database includes 90,000 accounts, with 10,000 being SBL members. We also leverage an email list of 100,000 previous concert buyers and approximately 1,300 accounts specifically interested in Music and Entertainment updates at Levi's Stadium.

In addition to email marketing, we utilize app push notifications to further amplify outreach, with 100,000 subscribers currently opting in to receive updates about Levi's Stadium events.

Example of digital video board rotations

DRAFT VERSION
Example of event marketing on Levi's Stadium social channels 20 DRAFT VERSION
Example of targeted email campaigns
• 'Rij a STADIUM .a
Meta Ill ca has confirmed that Its record-b reaking M72 World Tour will be extended into a third year, with the announceme nt of 21 North Ame rican shows spanning April, May and June of 2025 , including a two-show expe rience at Levi's ® Sta dium on J une 20 and 22. The M72 World Tour's 2025 Itinerary will cont inue the hallowed No Repeat Weeke nd tradition, with each night of the two show stands featuring entirely different setllsts and support lineups includ ing Pantera , Ump Blzkit and more .

Purchase you r tickets here or by clicking the button below.

PUROIASENOW
Key Performance Indicators
hij kf STADIUM ;
Chelsea F.C. and Wrexham AFC are returning to the United States this sunvner for a July 24 match at Lev i's~ Stadium . Tho two teams played against each other last summer In front of a sold-<>ut crowd at Kenan Memorial Stadium In Chapel Hill, North Carolina. This match will be one of Wrexham AFC's three U.S. matches this summer as part of their 2024 Wrex Coast Tour.

Purchase your tickets hero or by clicklng the button bolow.

PUACKAS[ NOW
VISA
Number of Events Secured: Drawing on our industry insights and past performance, we are confident the stadium manager will secure a minimum of six public events for the year.

Profitability : With twenty-two profitable events hosted over the past three years, we remain committed to negotiating favorable deal terms that ensure a positive net outcome for each event .

Event Mix : Our goal is to curate a diverse lineup of entertainment experiences for the Santa Clara community . This includes a target of six events featuring a variety of concerts spanning different music genres, as well as soccer matches ranging from international clubs and national teams to MLS games. 21 DRAFT VERSION
Conclusion
As we reflect on another successful year and prepare for sustained growth, we are confident in the strength of our marketing plan, which outlines a strategic approach to attracting prominent private and public events. Through proactive client engagement, targeted marketing strategies, innovation, and collaboration, we will continue delivering highly profitable events for the Stadium Authority. 22 Board Policy Manual
Proposed
February 25, 2025

Stadium Authority Board Budget Policy

The Santa Clara Stadium Authority (Stadium Authority) has a responsibility to the Santa Clara community, its financing agencies, the Forty Niners Stadium Management Company (ManCo), and other stakeholders to manage the Stadium finances wisely and with transparency and to plan for the provision of services desired by, and in the best interest of, the public.

The Proposed Operating, Debt Service, and Capital Budget for the Stadium Authority is developed as required in the Stadium Authority Management Agreement, Section 4.6:

Annual Operating Budget. The budget provides the necessary funding to adminis ter the duties of the Stadium Authority, including:

• Funding for operating the Stadium for Non-NFL events through ManCo, • Advancement of the FY 2025/26 Work Plan;
• Payment of debt service obligations; and,
• Maintenance of a five-year capital plan.

Through the Management Agreement, ManCo is held to a Standard of Care as outlined in Section 2.9 of the Management Agreement, which states:

2.9 Standard of Care. Subject to the limitations set forth in this Agreement, the Budget, and the Stadium Lease, the Stadium Manager shall exercise prudent, commercially reasonable good faith efforts in managing and operating the Stadium in accordance with the terms hereof so as to (a) maintain the Stadium in the Required Condition and operate the Stadium as a qualit y NFL and multi-purpose public sports, public assembly, exhibit and entertainment facility, to a standard of quality comparable to other similar facilities (except that the parties recognize that portions of the Stadium may be in need of capital upgrades); (b) control Manager Operating Expenses, StadCo Operating Expenses and Stadium Authority Operating Expenses; and (c) maximize Operating Revenues.

This policy is designed to provide standards for financial decision-making consistent with applicable law, agreements, and debt covenants and establish parameters for directing the financial affairs of the Stadium.

This policy is meant to be dynamic and is subject to change as the needs arise or when additional information is available. All amendments will be ap proved by the Stadium Authority Board (Board) at a public meeting.

SCSA

SANTA CLARA STADIUM AUTHORITY
Stadium Authority Board Budget Policy
Proposed
February 25, 2025

A. Budget Objectives:

1. Ensure proper governance and accountability as reflected in the annual budget.

2. Identify needs of the community, ManCo, and key stakeholders (such as Stadium Builder License holders/season ticket holders, fans, and event attendees).

3. Inform and communicate clearly and thoroughly to the community as a whole the Stadium Authority’s fiscal position and budget schedule/hearings to actively participate in the Stadium Board’s budget deliberations.

4. Align the budget with Stadium Authority Board priorities and duties, as proposed by ManCo, Stadium Authority staff, and/or Board members.

5. Identify and budget the resources required to perform services and accomplish policy objectives.

6. Ensure the long-term upkeep and maintenance of the Stadium.

7. Set standards to measure, monitor, and evaluate the Stadium Authority’s accomplishment of budget objectives and expenditure of appropriations:
 Quarterly Financial Reports
 Annual Budget Review and Adoption
 Annual Financial Statements

8. Focus on business process redesign in order to improve productivity and quality, flexibility, and cost-effectiveness of service delivery (e.g., streamlining, simplifying, reorganizing functions, and reallocating resources).

B. Budget Policy Statements:

1. Stadium Authority Staff will submit a structurally balanced budget (revenues will equal or exceed expenses) for Stadium Authority Board approval to cover annual debt requirements and operating and maintenance expenses. I f a structural imbalance occurs, a plan will be developed and implemented to correct the imbalance.

2. Stadium Authority Executive Director will submit the annual proposed budget to the Board in compliance with the relevant provisions of the Stadium Management Agreement in late February/early March for Board review and public input and the Board will adopt the annual budget before March 31st of each year.

3. The Stadium Authority Budget will comply with all local, including Measure J, State, and Federal legal requirements.

4. The Stadium Authority Budget will provide for adequate maintenance and repair of capital assets and equipment for the Stadium:
a. An annual capital budget will be prepared and approved by the Board as part of the annual budget.
b. A five-year capital plan will be prepared and updated annually. The plan will prioritize all anticipated capital projects.

5. The Stadium Authority will maintain a budgetary control system to ensure adherence to the budget and will use a budget/encumbrance control system to ensure proper budgetary control. Budgetary appropriation control for expenditures shall be at the fund level.

6. Stadium Authority staff will prepare quarterly reports comparing actual revenues and expenses to budgeted amounts.

SCSA

SANTA CLARA STADIUM AUTHORITY
Stadium Authority Board Budget Policy
Proposed
February 25, 2025

7. Stadium Authority staff wil l bring forward budget amendments for Board consideration during the year in order to address unanticipated needs, emergencies, or compliance with Stadium agreements.

8. The Stadium Authority Budget will be prepared using the accrual basis.

9. The Stadium Author ity Treasurer is responsible for coordinating the overall preparation of the Stadium Authority’s budget and analyzing its content, reflective of expenses for operations of ManCo and Stadium Authority staff, debt requirements, and capital expenses.

A. Budget Development Process:

The Stadium Authority Treasurer is responsible for coordinating the overall preparation of the Stadium Authority’s budget and analyzing its content. The goal of each budget development process is that the Budget is presented to the Boa rd and the public at one Study Session and one Public Hearing before its final approval of the annual budget. The following are key steps to the budget development process:

1. In November of each year (or before), Stadium Authority staff will meet with the ManCo and develop the annual budget development plan which includes the date that the ManCo will provide all necessary documents as required by the Stadium Lease and Stadium Management Agreement.

2. No later than 45 days prior to the start of the upcoming fiscal year, the ManCo will provide annual documents as outlined in the Stadium Agreements, which will be used in the Budget Development Process.
 Stadium Operations and Management Plan (Source: Stadium Management Agreement)
 Annual Shared Expense Budget w/ Fiv e Year Projection ( Source:

Stadium Management Agreement)
 Annual Stadium Operations Budget ( Source: Stadium Management Agreement)
 Annual Public Safety Budget (Source: Stadium Management Agreement)
 Capital Expenditure Plan with Five Year Projection (Source: Stadium Management Agreement)
 Non-NFL Event Marketing Plan ( Source: Stadium Management Agreement)

3. Stadium Authority staff will analyze ManCo’s budget submission including but not limited to the number of FTEs recommended and related personnel costs; line item recommended expenses; and strategic focus of recommended resources using various tools such as historical expense analysis, incremental increases, and base budget review.

4. Stadium Authority staff will calculate the budget for Stadium Authority General and Administrative costs (such as staff costs, consulting, audit, legal, and any reasonable and necessary expenses to uphold its support of the Board).

5. Stadium Authority staff will calculate any necessary funding to be used for the Stadium Authority’s Discretionary Fund.

SCSA

SANTA CLARA STADIUM AUTHORITY
Stadium Authority Board Budget Policy
Proposed
February 25, 2025

6. Stadium Authority staff will compile a draft budget incorporating the items provided by ManCo and calculated by staff and will submit the document to the Stadium Authority Board at a Study Session or Public Hearing for review and seeking input from the public and the Board.

7. Prior to March 31st, staff will submit the proposed Annual Stadium Authority Budget to the Board for final approval.

SCSA

SANTA CLARA STADIUM AUTHORITY

Board Policy Manual
Proposed
February 25, 2025

Stadium Authority Board Compliance and
Management Policy

This policy sets the framework for compliance of the mandates of The Santa Clara Stadium Taxpayer Protection and Economic Progress Act (Measure J), passed by the voters of the City of Santa Clara in June 2010 and the management of Levi’s ® Stadium (Stadium). Measure J was the legislation that approved the development on City-owned land of a Stadium suitable for the exhibition of professional football games and other event subjects, however, to the binding requirements set forth in Measure J to safeguard the City’s General and Enterprise Fund and protect City taxpayers. Measure J was enacted for the following purposes:

1. Generate New Revenue for Santa Clara

2. Create New Jobs

3. Provide Taxpayer Protections

4. Generate Community Funding

To ensure that the Stadium operates within the boundaries of Measure J and that it is managed effectively, the Stadium Authority Board (Board) established the following Board priority in January 2017:

 Ensure Compliance with Measure J and Manage Levi’s Stadium

The Board is committed to complying with the regulations of Measure J and go vernance of the Stadium Authority and its activities through the below framework:
.
 Oversight – effective management of the Stadium
 Commitment – to the citizens of Santa Clara to protect the community and safeguard the City’s General Fund
 Compliance – with Measure J and various Stadium agreements  Transparency – to provide information required for decision making  Communication – to keep the public informed of issues related to the Stadium  Adequate Resources – to maintain the necessary resources, including staffing, to effectively manage the Stadium
 Enforcement – to require that Stadium contracts and agreements are accurately followed
SCSA

SANTA CLARA STADIUM AUTHORITY
Stadium Authority Board Compliance and Management Policy Proposed
February 25, 2025

 Monitoring – perform compliance and financial audits by both internal and external auditors
 Corrective Action – audit report of all findings which will require a written response to any non-compliant finding

Board decisions must be aligned to the voter approved Measure J legislation and evaluation of this initiative must be reviewed against the purpose for which Measure J was e stablished. The intent of the above framework is to provide transparency of conventional activities that the Stadium Authority will engage in to ensure Measure J compliance.

SCSA

SANTA CLARA STADIUM AUTHORITY
City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-210 Agenda Date: 2/25/2025

REPORT TO COUNCIL

SUBJECT
Recognition of Wilcox High School Team earning First Place at the California Council on Economic Education’s Financial Advisors Contest

BACKGROUND
The California Council on Economic Education (CCEE) works with California teachers to create financially literate students who thrive in the global economy. CCEE was founded as part of the California State University Foundation to provide training and standards-based curriculum in economics to California teachers as a statewide 501(c)3 nonprofit organization.

The CCEE hosts the Financial Advisors Contest each year as an opportunity for high school students (Grades 9-12) to apply financial concepts in a real-world scenario. Each team receives a fictional client case-study. Student teams share their financial plan and recommendations for their client in a live presentation before a panel of judges. A total of 24 teams were selected to go to the State finals which are split into three divisions of eight teams. Each division has their own set of financial advisors which score each team in their own division.

The Wilcox High School team included 11
th grade students Vedant Garg, Jiean Liao, Tanya Sharma and Michelle Wu. As current Juniors, this team also won this competition when they were Sophomores, making them only the second team that has ever won back-to-back championships.

Next year, the team has the goal to be the first team ever to win three championship titles in a row.

DISCUSSION
At the City Council meeting on February 25, 2025, the City of Santa Clara will recognize the Wilcox High School students including Vedant Garg, Jiean Liao, Tanya Sharma and Michelle Wu for winning first place at the California Council on Economic Education’s Financial Advisors Contest. The team will also be joined by Wilcox High School Business Teacher and team mentor Anthony Raffetto.

ENVIRONMENTAL REVIEW
This is an information report only and no action is being taken by the City Council and no environmental review under the California Environmental Quality Act (“CEQA”) is required.

FISCAL IMPACT
There is no fiscal impact to the City other than staff time.

PUBLIC CONTACT
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a City of Santa Clara Printed on 2/21/2025Page 1 of 2
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25-210 Agenda Date: 2/25/2025
Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected] or at the public information desk at any City of Santa Clara public library.

Reviewed by: Maria Le, Assistant to the City Manager, City Manager’s Office Approved by: Jovan D. Grogan, City Manager
City of Santa Clara Printed on 2/21/2025Page 2 of 2
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-201 Agenda Date: 2/25/2025

REPORT TO COUNCIL

SUBJECT
Proclamation of NO MORE Week from March 2, 2025 to March 8, 2025

BACKGROUND
The NO MORE Foundation is dedicated to ending domestic and sexual violence by increasing awareness, inspiring action, and fueling culture change. Together with 1,400 allied organizations and local, state, and international chapters, NO MORE sparks grassroots activism to encourage all to be part of ending domestic violence and sexual assault.

For 2025, March 2 through March 8, 2025 is NO MORE week, a week to raise awareness that domestic violence is a public health crisis and impacts victims and survivors in communities.

Domestic and sexual violence impacts one in three women globally. One in every four women will experience sexual assault in her lifetime, and one in every six men have had abusive or unwanted sexual experiences in their lifetime. The NO MORE week serves as an opportunity to educate the public of the urgency and prevalence of this epidemic.

The City of Santa Clara demonstrates its support of NO MORE week to bring awareness to services that protect vulnerable members of our community and support survivors. Domestic and sexual violence victims and their families are encouraged to seek assistance from appropriate victims’ services organizations such as Next Door Solutions Crisis Hotline at 408-279-2962, Maitri Crisis Hotline at 888-862-4874, Community Solutions Crisis Hotline 877-END-SADV, Asian Women’s Home Crisis Hotline 408-975-2739 and YWCA Crisis Hotline 800-572-2782.

DISCUSSION
At the City Council meeting on February 25, 2025, the City of Santa Clara will proclaim March 2 through March 8, 2025 as NO MORE week. Representative Sheri Ostdiek from the NO MORE week initiative will be in attendance to accept the proclamation.

FISCAL IMPACT
There is no fiscal impact to the City other than staff time.

COORDINATION
This report has been coordinated with the City Manager’s Office.

PUBLIC CONTACT
City of Santa Clara Printed on 2/21/2025Page 1 of 2
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25-201 Agenda Date: 2/25/2025
Public contact was made by posting the Council agenda on the City’s official-notice bulletin board outside City Hall Council Chambers. A complete agenda packet is available on the City’s website and in the City Clerk’s Office at least 72 hours prior to a Regular Meeting and 24 hours prior to a Special Meeting. A hard copy of any agenda report may be requested by contacting the City Clerk’s Office at (408) 615-2220, email [email protected]
or at the public information desk at any City of Santa
Clara public library.

Reviewed by: Maria Le, Assistant to the City Manager, City Manager’s Office Approved by: Jovan D. Grogan, City Manager

ATTACHMENTS

1. Proclamation for NO MORE Week Draft
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WHEREAS,

WHEREAS,
NO MORE Week is an annual international campaign to raise awareness and take action against domestic and sexual violence; and domestic violence crosses all socio-economic, ethnic and religious boundaries, and l in every 3 women will experience domestic violence, l in every 4 women will experience sexual assault, and l in every 6 men have had abusive or unwanted sexual experiences; and we encourage domestic and sexual violence victims and their families to seek assistance from appropriate victims' services organizations such
as Next Door Solutions, Asian Women's Home and YWCA; and we support volunteer involvement with local community organizations which support real solutions that eradicate domestic violence; and
the City of Santa Clara is dedicated to preventing domestic violence and addressing its destructive effects and make ending domestic violence and sexual assault in our community a priority.

NOW, THEREFORE, I, LISA M. GILLMOR, by virtue of the authority vested in me as Mayor, and on behalf of the Santa Clara City Council, do hereby proclaim March 2 -8, 2025, as

NO MORE WEEK
in the City of Santa Clara and urge residents to join the movement to eliminate domestic violence and sexual assault, protecting vulnerable members of our community.

Given under my hand and the Seal of the City of Santa Clara, California, this 25th day of February 2025. l!JF'
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KELLYG.COX
VICE MAYOR, DISTRICT 6
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KAREN HARDY::j
COUNCILMEMBER, DISTRICT 3
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LISA M. GILLMOR

MAYOR, CITY OF SANTA CLARA
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ALBERT GONZALEZ
COUNCILMEMBER, DISTRICT 1
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KEVIN PARK
COUNCILMEMBER, DISTRICT 4
ft� RAJ CHAHAL
COUNCILMEMBER, DISTRICT 2

SUDS JAIN
COUNCILMEMBER, DISTRICT 5
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-217 Agenda Date: 2/25/2025

REPORT TO COUNCIL

SUBJECT
Proclamation of Divorce with Respect Week from March 3, 2025 to March 9, 2025

BACKGROUND
Divorce with Respect Week was originated in California in 2021 by Collaborative Practice California.

As a nonprofit association, Collaborative Practice California consists of legal, financial, and mental health professionals who specialize in supporting individuals to navigate through divorce and the dissolution of their marriage.

Divorce with Respect Week brings awareness about collaborative divorce or mediation as alternative to traditional litigation. Collaborative divorce is an amicable approach that focuses on the needs of the family. These no-court options are meant to focus on the goals to reach a resolution that benefits all involved. Since 2007, the State of California has recognized the Collaborative Law Process in the Family Law Code, Section 2013, as an alternative to adversarial judicial intervention. As part of Divorce with Respect Week, members of Collaborative Practice California will offer free consultations to California residents through the week of March 3 through 9, 2025.

DISCUSSION
At the February 25, 2025 City Council meeting, the City of Santa Clara will proclaim Divorce with Respect Week from March 3 through March 9, 2025. Melisa Lenon, Vice President of Collaborative Practice Silicon Valley, will accept the proclamation for Divorce with Respect Week.

ENVIRONMENTAL REVIEW
This is an informative report only and no action is being taken by the City Council and no environmental review under the California Environmental Quality Act ("CEQA") is required.

FISCAL IMPACT
There is no fiscal impact to the City other than staff time.

Reviewed by: Maria Le, Assistant to the City Manager, City Manager’s Office Approved by: Jovan D. Grogan, City Manager
City of Santa Clara Printed on 2/21/2025Page 1 of 2
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25-217 Agenda Date: 2/25/2025

ATTACHMENTS

1. Proclamation for Divorce with Respect Week March 3-March 9, 2025 Draft City of Santa Clara Printed on 2/21/2025Page 2 of 2
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WHEREAS,

WHEREAS,
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Collaborative Divorce is a process for resolving family law disputes in which clients work together in a respectful way, keeping in mind the importance of protecting their families and loves ones from conflict and with the goal of creating win-win situations for all participants; and
Collaborative Practice California, established in 2006, is an organization consisting of divorce professionals who help individuals learn more about the collaborative process, discover dispute resolution methods and find collaborative attorneys, mental health practitioners and financial specialists; and
the State of California has recognized the Collaborative Law Process in the California Family Law Code Section 2013 as an alternative to adversarial judicial intervention; and
Divorce with Respect Week is dedicated to providing options for families that are not adversarial and that are focused on the well-being of the spouses and their family.

NOW, THEREFORE, I, LISA M. GILLMOR, by virtue of the authority vested in me as Mayor, and on behalf of the Santa Clara City Council, do hereby proclaim March 3 - 9, 2025, as

DIVORCE WITH RESPECT WEEK
and do hereby commend Collaborative Divorce Professionals throughout the City of Santa Clara and the State of California who are joining together to offer free divorce infonnational consultations during Divorce With Respect Week.

Given under my hand and the Seal of the City of Santa Clara, �
••
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ruary 2025.
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KELLYG.COX
VICE MAYOR, DISTRICT 6
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KAREN HA�
COUNCILMEMBER, DISTRICT 3
LISA M. GILLMOR

MAYOR, CITY OF SANTA CLARA
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ALBERT GONZALEZ

COUNCILMEMBER, DISTRICT I
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KEVIN PARK
COUNCILMEMBER, DISTRICT 4
��
COUNCILMEMBER, DISTRICT 2

SUDS JAIN
COUNCILMEMBER, DISTRICT 5
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City of Santa Clara
Agenda Report
1500 Warburton Avenue
Santa Clara, CA 95050
santaclaraca.gov
@SantaClaraCity
25-281 Agenda Date: 2/25/2025

REPORT TO COUNCIL

SUBJECT
Action on the February 11, 2025 Joint Council and Authorities Concurrent & Stadium Authority Meeting Minutes.

RECOMMENDATION
Approve the meeting minutes of the February 11, 2025 Joint Council and Authorities Concurrent & Stadium Authority Meeting.

City of Santa Clara Printed on 2/21/2025Page 1 of 1
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City of Santa Clara
Meeting Minutes of the
Joint City Council and Authorities Concurrent &
Santa Clara Stadium Authority Board
Draft
Hybrid Meeting
City Hall Council Chambers/Virtual
1500 Warburton Avenue
Santa Clara, CA 95050
The City of Santa Clara is conducting City Council meetings in a hybrid manner (in-person and continues to have methods for the public to participate remotely).

How to Submit Written Public Comment Before City Council Meeting:

NOTE: Please note eComments and Emails received as public comment will not be read aloud during the meeting.

Agendas, Staff Reports and some associated documents for City Council items may be viewed on the Internet at https://santaclara.legistar.com/Calendar.aspx All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the legislative body will be available for public inspection at the Office of the City Clerk at Sana Clara City Hall, 1500 Warburton Avenue, Santa Clara, CA 95050 at the same time that the public records are distributed or made available to the legislative body. Any draft contracts, ordinances and resolutions posted on the Internet site or distributed in advance of the Council meeting may not be the final documents approved by the City Council. For the final document, you may contact the Office of the City Clerk at (408) 615-2220 or [email protected].
• Via Zoom:
o https://santaclaraca.zoom.us/j/99706759306
Meeting ID: 997-0675-9306
o Phone 1(669) 900-6833

Page 1 ends

City Council and Authorities ConcurrentFebruary 25, 2025

City Council and Authorities Concurrent
February 25, 2025