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CITY PANEL UNANIMOUSLY APPROVES L.A. ARENA PLAN
Published January 14, 1997
The L.A. City Council's Ad Hoc Committee on the L.A. Arena Proposal unanimously approved a taxpayer-assisted, privately owned and operated arena project for downtown L.A., according to Jean Merl of the L.A. TIMES. A City Council vote could come as early as Wednesday. The proposal calls for the city to spend $70.5M to provide land. City officials said they expect arena revenues, which include a ticket fee, to cover the taxpayers' cost of $6.8M a-year for 25 years (L.A. TIMES, 1/14).