CITY PANEL UNANIMOUSLY APPROVES L.A. ARENA PLAN
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).