SAN DIEGO – Two members of the mayor-appointed, citizens' stadium advisory group met with members of the San Diego city council on Thursday to provide an update on the task force’s effort to devise a finance plan that would pay for a new stadium to house the San Diego Chargers.

Appointed by San Diego Mayor Kevin Faulconer, the group announced last week that they selected the Mission Valley site as the location for a new stadium over a downtown site next to Petco Park. Adam Day, chair of the task force, told the council’s economic development committee that his group remains on target to bring forward a recommendation to finance the new stadium by Faulconer’s May 20 deadline.

The newest proposal to keep the Chargers in San Diego seems to be centered on a new stadium in Mission Valley. David Eulitt/Kansas City Star/Getty Images

Day estimates the proposal could cost $700 million to $1.5 billion.

“I think it’s safe to say it’s going to be somewhere in-between there,” Day said. “It doesn’t need to be a facility that has all of the bells and whistles, because I don’t think that’s San Diego’s style. But it will be something that’s functional, that works and hopefully serves as an economic catalyst.”

Day went on to say the group’s finance plan will look at several revenue streams to finance the project, including contributions from the Chargers, the city, naming rights, personal seat licenses, parking, concessions, rent and the potential for mixed-use developments.

Day said the advisory group has two meetings scheduled with NFL executive Eric Grubman, the man charged with handling league relocation to Los Angeles and franchise retention in current NFL cities, for April 7 and April 14.

Day said the advisory group also will meet again with the Chargers to get their comments on developing a finance plan.

“They are an important part of any finance plan,” Day said about the Chargers. “They’re a tenant. They are an important tenant of any facility or stadium, but they are not the only tenant. But we want to meet with them to understand what works for them, and what financing they can bring to the table.”

Stadium advisory group member Aimee Faucett said she was one of the members who initially favored the downtown site, but ultimately was part of the task force’s unanimous vote in favor of the Mission Valley site.

“The pressure of Los Angeles is very real,” Faucett said. “And we have to take that into consideration when we are coming up with what is doable, and make sure we come up with a solution that will keep the Chargers here in our community.”

Dan McLellan of the San Diego Stadium Coalition raised concerns about some of the obstacles with building a stadium at Mission Valley, including reaching out to residents near the site to discuss the potential impact of a new development and making sure there’s a clear path to development that includes a realistic estimate for infrastructure costs.

“It doesn’t take much of a Google search to find out that there is a large, outspoken group of Mission Valley residents who oppose development,” McLellan said. “So I would suggest now that we’ve decided this is Mission Valley, the best thing we need to do is engage those outspoken residents now, explain to them in general what the plan is, and get them on board.”

Council member Mark Kersey said he agreed with the task force’s choice of the Mission Valley site.

“I believe that you can put a basket of financing options together in a way that makes sense for taxpayers,” Kersey said. “The question is whether that would be acceptable to the team. So that’s what we’re going to find out, and that the challenge you guys have.”