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L.A. NFL stadium agreement approved by City Council on 12-0 vote ($1.2-billion NFL stadium)
LA Times ^ | 8/9/11 | David Zahniser

Posted on 08/09/2011 3:33:30 PM PDT by NormsRevenge

The plan to build a $1.2-billion NFL stadium in downtown Los Angeles took a big leap forward Tuesday when the City Council approved the overall framework for financing the project.

On a 12-0 vote, the council voted for a nonbinding agreement with stadium developer Anschutz Entertainment Group that allows for the demolition and relocation of a section of the Los Angeles Convention Center. That, in turn, would make room for a 72,000-seat stadium just south of Staples Center, which would open in 2016 with the planned name of Farmers Field.

“Today, in moving this forward, we don’t lose one bit of leverage. We don’t lose one bit of control,” said Council President Eric Garcetti. “The great suggestions that people make along the way, we can sit down and talk to folks about. But it is time to take the next brave step forward.”

Approval of the stadium plan would kick off nine months of intensive negotiations with AEG, which has promised to pay for the new stadium and two parking garages on its own dime. And it would allow city planners to press ahead with preparation of an environmental impact report on the project, which would assess such issues as traffic, noise and glare in nearby neighborhoods.

The city plans to issue $275 million in bonds to pay for the new Convention Center wing. Up to 49% of the new revenue generated by the two projects -- taxes and lease revenue -- would be used to pay off that debt.

(Excerpt) Read more at latimesblogs.latimes.com ...


TOPICS: Business/Economy; Culture/Society; Politics/Elections; US: California
KEYWORDS: aeg; agreement; anschutz; approved; farmersfield; football; laconventioncenter; losangeles; nfl; sports; stadium
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Even now, Al Davis is drooling at this new chance to move the Raiders back to Los Angeles. I liked the Irwindale quarry proposal myself.. This new thing looks like a Crystal Cathedralesque thing..
1 posted on 08/09/2011 3:33:32 PM PDT by NormsRevenge
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Farmer's Field..
2 posted on 08/09/2011 3:35:36 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge

Interesting. LA County is so flush with cash that they can spend $1.2 billion on a stadium that has no team to play in it? What happened to all of those bankruptcy stories we were reading about a few months ago?


3 posted on 08/09/2011 3:36:09 PM PDT by Teacher317 (really?)
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4 posted on 08/09/2011 3:36:58 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge

Not a penny of taxpayer money should have ever been spent on such garbage and it should not wasted on this....


5 posted on 08/09/2011 3:37:17 PM PDT by isthisnickcool (Sharia? No thanks.)
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To: NormsRevenge

As much as LA should have an NFL team where is this money coming from?


6 posted on 08/09/2011 3:37:50 PM PDT by Personal Responsibility (Government rushes to help the irresponsible and does little for the responsible)
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To: NormsRevenge; abigail2; AgThorn; al baby; BAW; bboop; BenLurkin; Bob J; Brad's Gramma; ...
SoCal Ping!

Attention Southern Californians

Image and video hosting by TinyPic

Please ping me with any Southern California related articles. Thank you!

If you want on or off this ping list, please FReepmail me.

7 posted on 08/09/2011 3:38:19 PM PDT by EveningStar
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To: Personal Responsibility

The city plans to issue $275 million in bonds to pay for the new Convention Center wing. Up to 49% of the new revenue generated by the two projects — taxes and lease revenue — would be used to pay off that debt.


8 posted on 08/09/2011 3:39:18 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: Perdogg

ping


9 posted on 08/09/2011 3:39:34 PM PDT by EveningStar
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To: Personal Responsibility

AEG is supposed to be paying for it.


10 posted on 08/09/2011 3:39:34 PM PDT by discostu (keep on keeping on)
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To: NormsRevenge

While I like the idea of downtown (or just urban) stadiums, they’ve got to figure something out with the nightmare that is the 110 and 10 area. It’s horrid on a good day.


11 posted on 08/09/2011 3:39:42 PM PDT by mgstarr ("Some of us drink because we're not poets." Arthur (1981))
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To: NormsRevenge
Even now, Al Davis is drooling at this new chance to move the Raiders back to Los Angeles. I liked the Irwindale quarry proposal myself.. This new thing looks like a Crystal Cathedralesque thing..

They are talking about a new Raiders-49rs shared stadium in Santa Clara. It's unclear who's moving where.

I'm surprised that they are building it that close to downtown. Much of the fan base is suburban.

12 posted on 08/09/2011 3:39:59 PM PDT by cicero2k
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To: Personal Responsibility

Bread and circuses.


13 posted on 08/09/2011 3:41:25 PM PDT by kabar
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To: Personal Responsibility

but seriesly, Anshutz Entertainment Group looks like it is the main driver / financier.. the city has to provide certain improvements tho as art of the ‘deal’. the previously mentioned dough is for the demo work of the existing Coonvention Center to make room..


14 posted on 08/09/2011 3:42:23 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: Teacher317; NormsRevenge

If an L.A.-area resident wants to have an NFL team, the new team could play at Los Angeles Memorial Coliseum, which is where the Raiders played for 13 years. That coliseum has about 100,000 seats, and it hosted many Olympic events, in 1984. If a new stadium is built, that would be a huge waste of money.


15 posted on 08/09/2011 3:44:39 PM PDT by PhilCollins
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To: NormsRevenge

And once again, the money of millions of taxpayers is controlled by only TWELVE.

I’m sure there was no pocket lining taking place in this. When was the last time you ever heard a politician say, “NO we won’t do that, the people can’t afford it.”

It is time for that to start.

I could give a damn for public financed football.


16 posted on 08/09/2011 3:49:50 PM PDT by Sequoyah101 (Half the people are below average.)
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To: NormsRevenge

Los Angeles Chargers?


17 posted on 08/09/2011 3:51:08 PM PDT by dfwgator
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To: kabar
Bread and circuses.

Pretentious twits and pseudo intellectuals.

18 posted on 08/09/2011 3:51:31 PM PDT by Minn (Here is a realistic picture of the prophet: ----> ([: {()
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To: NormsRevenge

What a lovely stadium for the Green Bay Packers to crush the LA Raiders within like bugs.


19 posted on 08/09/2011 3:53:14 PM PDT by The KG9 Kid
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To: NormsRevenge
They've been trying to get the Chargers for awhile now.

The Chargers keep threatening to leave us if they don't get a new stadium but that means added taxes and, so far, San Diegans won't agree. *whew*

20 posted on 08/09/2011 3:55:10 PM PDT by CAluvdubya
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To: Teacher317

Aside from USC, the vicinity is a sh*thole. No sane white person except for the players themselves would go there. There’s a reason why the Dodgers have one of the 5 most drops in attendance and the Bryan Stow beatdown is just the tip of the iceberg.

Like I’m going to share my space with mexicans who boo the national anthem.


21 posted on 08/09/2011 3:55:20 PM PDT by max americana (FUBO NATION 2012 FK BARAK)
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To: cicero2k
For years the Spanos family has been trying to soak the taxpayers of San Diego for a replacement stadium — no deal. Mark Fabiani, former Bill Clinton butt-boy, current Spanos blowhole, and out-of-the closet homosexual, has been threatening such an outcome since 2002. If L.A. builds a new facility, those b@$t@rd$ will move the Chargers there in a New York minute.
22 posted on 08/09/2011 3:55:20 PM PDT by twister881
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To: EveningStar

ES any word who going be our NFL Team is the Oakland turn LA turn Oakland again turn LA Maybe Raiders or LA Chargers LOL!


23 posted on 08/09/2011 3:56:01 PM PDT by SevenofNine (We are Freepers, all your media belong to us ,resistance is futile)
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To: mgstarr

Well you could always take Metro link that what I would do they plan have special train go to Downtown LA


24 posted on 08/09/2011 3:57:22 PM PDT by SevenofNine (We are Freepers, all your media belong to us ,resistance is futile)
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To: NormsRevenge

Rams will move there


25 posted on 08/09/2011 3:57:26 PM PDT by demsux (Obama: THE job destroyer)
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To: twister881

Well, they started in Los Angeles, and have a built-in fan base already, better than bringing the Jaguars there, there’s no history there.


26 posted on 08/09/2011 3:57:32 PM PDT by dfwgator
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To: dfwgator

GMTA.... :)


27 posted on 08/09/2011 3:58:04 PM PDT by CAluvdubya
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To: dfwgator
Los Angeles Chargers?

I think so.

Interesting enough, the Chargers played their first season in L.A. and then moved to San Diego.
28 posted on 08/09/2011 3:58:25 PM PDT by Ticonderoga34 (Free Obama's Birth Certificate!)
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To: NormsRevenge

$1.2 Billion? Wait until the final bill comes in. I’ll bet it’s 3 times that.


29 posted on 08/09/2011 3:58:43 PM PDT by RC2
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To: PhilCollins
The Los Angeles Memorial Coliseum is a crumbling theater prop made in 1921 out of a giant oval made of dirt smeared with a thin veneer of antique cement.

Historic, but it needs to go bye-bye.

30 posted on 08/09/2011 3:59:26 PM PDT by The KG9 Kid
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To: demsux

I could see the Rams coming back, might be the best scenario of all. St. Louis has never been a football town. Everyone climbed on the bandwagon when they were good, but they still are a distant second to the baseball Cardinals in St Louis.


31 posted on 08/09/2011 4:01:55 PM PDT by dfwgator
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To: SevenofNine

I’m still waiting for my subway to the sea to whisk me from Santa Monica to downtown.

Of course by the time that happens, I’ll be too old to care (and not living here anymore).


32 posted on 08/09/2011 4:04:46 PM PDT by mgstarr ("Some of us drink because we're not poets." Arthur (1981))
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To: NormsRevenge

Debt from LA, LOL, only the rackets would take the risk.


33 posted on 08/09/2011 4:08:35 PM PDT by org.whodat (What does the Republican party stand for////??? absolutely nothing.)
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To: NormsRevenge

No you are the main driver, they will be tax exempt industrial revenue bonds. This is one tax give away loop hole that should be closed.


34 posted on 08/09/2011 4:11:03 PM PDT by org.whodat (What does the Republican party stand for////??? absolutely nothing.)
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To: PhilCollins
That coliseum has about 100,000 seats, and it hosted many Olympic events, in 1984.

Actually, it wouldn't matter if it had 200,000 seats. Without the luxury boxes/apartments and high rent fixtures, the NFL teams are not interested. The seats for the unwashed hoi polloi are not that important.

35 posted on 08/09/2011 4:14:50 PM PDT by DeFault User
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To: dfwgator
Los Angeles Chargers Recyclers works for me.
36 posted on 08/09/2011 4:18:56 PM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: The KG9 Kid
What a lovely stadium for the Green Bay Packers to crush the LA Raiders within like bugs.

Or even better the LA Vikings...
37 posted on 08/09/2011 4:19:21 PM PDT by Kozak ("It's not an Election it's a Restraining Order" .....PJ O'Rourke)
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To: EveningStar

I’m all for it as a UCLA alum. The USC football program has been put on a pedestal it does not deserve considering its track record of bad ethics. It’s about time it has some competition from the professional league. And even though a few Laker victory celebrations get out of hand, it really is wonderful to have teams that the whole city—with all its diverse residents and communities to truly unite behind. Long live L.A. :).

Er...the only thing I’m worried about is the traffic during the games LoL, but that’s always bad anyways.


38 posted on 08/09/2011 4:21:52 PM PDT by CondoleezzaProtege (Palin 2012)
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To: The KG9 Kid
What is the financial status of the old Coliseum?

Here in Indianapolis, we (taxpayers) currently owe about twice as much as it cost to build on the old Hoosier Dome. Which no longer exists. It was torn down to build the $700 million Lucas Oil Stadium.

The beauty of Democrats taking out second (and third) mortgages on muni buildings.

39 posted on 08/09/2011 4:26:42 PM PDT by nascarnation
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To: mgstarr

On that you going have wait another 10 to 15 years LA is weird they don’t really plan ahead


40 posted on 08/09/2011 4:27:55 PM PDT by SevenofNine (We are Freepers, all your media belong to us ,resistance is futile)
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To: EveningStar
I’m all for it as a UCLA alum. The USC football program has been put on a pedestal it does not deserve considering its track record of bad ethics. It’s about time it has some competition from the professional league. And even though a few Laker victory celebrations get out of hand, it really is wonderful to have teams that the whole city—with all its diverse residents and communities to truly unite behind. Long live L.A. :).

Er...the only thing I’m worried about is the traffic during the games LoL, but that’s always bad anyways.

That being said the football program should be trained to give back to the community in some way and do lots of outreach. The program should not be confined to the whims of the good-ole-boys of the LA elite.

41 posted on 08/09/2011 4:29:03 PM PDT by CondoleezzaProtege (Palin 2012)
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To: EveningStar
I’m all for it as a UCLA alum. The USC football program has been put on a pedestal it does not deserve considering its track record of bad ethics. It’s about time it has some competition from the professional league. And even though a few Laker victory celebrations get out of hand, it really is wonderful to have teams that the whole city—with all its diverse residents and communities to truly unite behind. Long live L.A. :).

Er...the only thing I’m worried about is the traffic during the games LoL, but that’s always bad anyways.

That being said the football program should be trained to give back to the community in some way and do lots of outreach. The program should not be confined to the whims of the good-ole-boys of the LA elite.

42 posted on 08/09/2011 4:29:22 PM PDT by CondoleezzaProtege (Palin 2012)
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To: dfwgator
Well, they started in Los Angeles, and have a built-in fan base already, better than bringing the Jaguars there, there’s no history there.

The Chargers played only their first season in 1960 in L.A., and then moved to San Diego, 51 years ago! There is no Chargers fan base in L.A. In fact Los Angeles fans hate San Diego teams. The black gangstas and Hispanic gangs of L.A. love the Raiders because of their pirate image. If the Chargers move to Los Angeles, they'll suck and draw fewer fans, just like the Clippers (who moved there when San Diego refused them a new arena).

43 posted on 08/09/2011 4:39:16 PM PDT by twister881
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To: NormsRevenge

They’re gonna convert USC to a pro team???


44 posted on 08/09/2011 4:40:37 PM PDT by OrioleFan (Republicans believe every day is the 4th of July, democrats believe every day is April 15.)
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To: OrioleFan
They’re gonna convert USC to a pro team

unlikely, the players would not agree to the pay cut

45 posted on 08/09/2011 4:43:06 PM PDT by nascarnation
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To: NormsRevenge

Isn’t this the same county that built a billion dollar high school and is now too broke to open it ?


46 posted on 08/09/2011 4:52:36 PM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: Teacher317

Good questions.

And why are there all new street signs in all four directions on every street corner in Anaheim?

Why is there road construction being done on roads that could have gone a few more years?

Why are there new Chase banks being built all over Orange County?

Why is almost every kid at the local high school is getting free breakfast and lunch, and, if pregnant, free prenatal care and daycare?

The only people Obama has kept working are the union people who sold their souls to him: construction, infrastructure, educators, bankers. Everyone else I know in SoCal is struggling, especially independent small business owners.


47 posted on 08/09/2011 5:00:33 PM PDT by Melian ("I can't spare this [wo]man; [s]he fights!" (Apologies to Abe Lincoln) Go, Sarah!)
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To: dfwgator
Move the Jets to LA.

Get them the H#LL out of GIANTS STADIUM!

48 posted on 08/09/2011 5:27:59 PM PDT by jaz.357 (All this lamb stew has me counting sheep!)
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To: NormsRevenge

I wished that Farmers Field is a retractable roof stadium. With good reason: that will make it possible to attract the NCAA Division 1A Men’s Final Four basketball tournament, and that could mean a huge boost for the local economy.


49 posted on 08/09/2011 5:29:59 PM PDT by RayChuang88 (FairTax: America's economic cure)
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To: NormsRevenge

It’s a good thing California is overflowing with cash to be able to afford needed items like this! Um... Wait... I thought they were broke and eating cat food?


50 posted on 08/09/2011 6:10:07 PM PDT by TexasFreeper2009 (Obama = Epic Fail)
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