Unanimous approval of the five-year outline to build a 72,000-seat football stadium in Downtown L.A. goes to show that the City Council is all game for a politically radioactive project.
For the developer Auschutz Entertainment Group (AEG) - whose portfolio includes the Staples Center and L.A. Live entertainment complex - three distinct hurdles lie ahead.
David Zahniser and Sam Farmer report:
"[T]he most difficult for Phil Anschutz, the billionaire owner of AEG, could be securing an NFL franchise. The league has no intention of expanding beyond the current 32 teams, so Anschutz must reach a deal with an existing owner to relocate to L.A. The relocation would have to be approved by a three-fourths vote of the 32 owners. The league is unlikely to give away access to L.A., the nation's second-largest media market, so any deal would almost certainly include a transfer fee, possibly in the hundreds of millions of dollars."
Anticipating a barrage of "frivolous lawsuits" invoking CEQA violations, "AEG is already working on state legislation to limit the type of legal challenges - including one it fears from backers of a competing stadium in the City of Industry - that could be filed against the project on environmental grounds."
On the financing side, "the city would issue $275 million in bonds, money that would allow for the demolition and reconstruction of the Convention Center's West Hall. AEG would then build the stadium, to be known as Farmers Field, on the former site of the West Hall. Revenue from both projects - including sales taxes, property taxes, and parking taxes - would be used to pay off $195 million in bonds. AEG would be on the hook for the remaining $80 million in bonds, and if it defaulted, the city would have the power to foreclose on L.A. Live."
The final voting is scheduled in May 2012.
FULL STORY: Los Angeles OKs outlines of downtown football stadium deal
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.
Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.
MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.
Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie