The Los Angeles City Council has just unanimously approved a memorandum of understanding with developer AEG to go ahead with plans for an NFL stadium and relocated Convention Center hall in South Park. Try to look a little surprised, would you? The non-binding MOU set out general financing terms for the $1.2 billion Farmers Field project, which would put a 72,000 seat football stadium just south of the Staples Center--that would in turn require demolition of the Convention Center's West Hall, which AEG would relocate over to Pico Blvd. City Council President Eric Garcetti called the discussion "the end of the beginning" of the sure-to-great Farmers Field saga.
Judging by video of today's Council meeting, chambers were packed with orange-shirt-wearing supporters and lots of labor representatives spoke in approval. As with previous meetings, very few people spoke in opposition, but one woman did say she had concerns: that taxpayer money would be used in the form of bonds, and that few jobs created would actually be permanent.
Oh, there were also lots and lots of "touchdown" puns.
So what's next? According to blogdowntown, AEG has three big things to do: "It needs to complete the environmental clearance process for the stadium plans, it needs to secure a deal to bring a team to Los Angeles, and it needs to reach a deal with the NFL to bring one or more Super Bowls to the stadium." Environmental review has already started and a draft environmental impact report is expected to be out in the spring (state lawmakers have also made noises about putting a stop to any environmental-review-inspired lawsuits against the project). AEG's hoping that they'll be able to get everything set for a 2016 football season.
· Developer Putting LA Live on the Line in NFL Stadium Deal [Curbed LA]
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