Farmers Field Developer's Studies All Rosy on Farmers Field

Developer AEG's proposed NFL stadium and rebuilt Convention Center "would dramatically increase the number of convention bookings while generating $22 million annually for the city," according to two reports paid for by developer AEG (and reported today by the LA Times). AEG has only released summaries, not the full studies. One says that the Farmers Field project, which includes a football stadium and a new Convention Center wing, "would generate $41 million in tax revenue annually" for agencies including the state of California, the LAUSD, and Metro. The other predicts 38 Convention Center bookings in 2016, compared to 24 in 2012. The City Administrative Officer says the city will do its own study; the City Council will debate Farmers Field on July 29. City Councilmember Paul Krekorian, who has questioned the project in the past, says he's going to make sure he sees the full report. Meanwhile, City Councilmember Eric Garcetti has released a wishlist of "principles that I believe would maximize benefits for the people of Los Angeles and protect taxpayers". Those principles include a mandatory environmental review, a "quality design...especially on the Pico corridor," and a portion of signage revenue for the city.
· NFL stadium and Convention Center project would boost tax revenue, studies find [LAT]
· Garcetti poses some 'principles' on AEG's stadium [LAObserved]