09 Aug L.A. NFL Stadium Agreement Approved By City Council on 12-0 Vote
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 L.A. NFL stadium 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.
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.
City officials expect the stadium to create more than 14,000 construction jobs and 6,300 permanent jobs while making it possible for the city to renovate its Convention Center at a time of tight budgets. Still, the proposal has drawn sharp questions from residents who live near the stadium site who are worried about the traffic that will pour onto local streets and the 110/10 freeway interchange.
Click link to read (As reported in LA Times)