LA to Get NFL Stadium
The city of Los Angeles is one step closer to getting a National Football League stadium in the city, which is big on soccer. On Tuesday the L.A. government took a big step in bringing a NFL stadium and a team to Los Angeles.
On Tuesday, the Los Angeles City Council approved unanimously a non-binding agreement to tear down a wing of the Convention Center and relocate it to make space for the construction of a 70,000 seat NFL stadium. The stadium has currently been named as the Farmers Field. The agreement was approved for the building developer, Anschutz Entertainment Group.
The twelve member council gave a 12-0 vote after the approval of the financial framework by the council committee last week. Among the many terms of the agreement, one states that the NFL puts a permanent team in the stadium as a long term commitment in the newly completed stadium. If the NFL does not agree to place a team in the stadium, the stadium work will be discontinued. The NFL league spokesperson said that they are aware of the developments taking place and will monitor the developments of the stadium in Los Angeles.
However, there are still tough negotiations to be made with the organizing committee AEG. The time is too early to consider that a stadium will be created at the site for certain. AEG has agreed to foot the bill for two parking garages and the stadium. Also pending is the environmental impact reports that will consider the effects of noise and pollution on the surroundings. The cost of the stadium is estimated to be around $1.2 billion. The stadium is situated near the STAPLES Center and will begin construction in June next year, and be completed by 2016. The city council has also planned to issue tax exempt bonds worth $275 million to fund the new stadium.