New legislation may speed up downtown stadium project - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

New legislation may speed up downtown stadium project

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SAN DIEGO(CBS 8) - Newly approved legislation in the California Assembly could bring a proposed downtown Chargers stadium closer to becoming a reality.

The bill, sponsored by Republican Assemblyman Nathan Fletcher, would lift a nearly $3 billion spending cap on redevelopment funds for downtown.

Mayor Jerry Sanders says that could pave the way for additional tax revenue that could create new construction projects downtown and put people to work.

"It could affect a new stadium. It could affect a lot of things Downtown. It also affects hotels that could be built. It affects a lot of different things that have been in the pipeline for the downtown area. It infuses a huge amount of money," Sanders said.

Governor Schwarzenegger needs to sign the bill for it to become official.

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