NHL Kings Owners, Philip Anschutz and Edward Roski,
developers of a proposed L.A. arena, "adopted a posture of
full disclosure Wednesday, one intended to convince the
public that they can be trusted and that, therefore, a vote
is unnecessary," according to Ted Rohrlich of the L.A.
TIMES. Developers released "copies of previously private
agreements between" themselves and the Lakers/Kings, and
"reiterated their pledge to guarantee that none" of the $70M
in municipal securities to help finance their $300M project
"would be at risk." But Rohrlich notes that absent from the
contracts was the dollar amount that the teams would receive
from the arena company, "which the developers said was
properly private because it does not affect city taxpayers."
The moves "were not enough to satisfy" City Councilmember
Joel Wachs, "who said he will go ahead" and sponsor an
initiative requiring developments relying on public funds be
submitted to voters" (L.A. TIMES, 8/28).
ON THE STREET: Arena developers yesterday launched what
they called an "education" offensive, featuring a full-page
ad in the L.A. Times and a news conference "at which they
expressed contrition for not having earlier made public the
contracts." Kings President Tim Leiweke, on not providing
"full disclosure" earlier: "We've made some mistakes here.
I'll take the blame for some of it" (L.A. TIMES, 8/28).
TIMES columnist Bill Boyarsky, who has lobbied for full
disclosure, calls a referendum a "bad idea." Boyarsky: "If
there is an initiative on government helping finance the
arena, why not a similar vote on other [L.A.] public-private
enterprises? (L.A. TIMES, 8/28).
