The Inglewood City Council "approved a development agreement" for the $1.2B Clippers arena this week, "carving out special zoning requirements and finalizing the terms" of a $100M public benefit package, according to Jason Henry of the ORANGE COUNTY REGISTER. The city has "yet to officially sell the publicly owned land needed for the project to the Clippers." But the sale, one of the "last hurdles before construction can begin, is expected to occur within the next two months." The Clippers "hope to break ground by next summer at Century Boulevard and Prairie Avenue, with the goal of opening when their lease expires with Staples Center" in '24. Public benefits finalized in the agreement Tuesday include:
- $75M to "provide low-interest loans for the purchase, preservation and development of affordable housing."
- $6M to "rehabilitate the city's public library and to create a community center."
- $8.5M for "college scholarships and after-school tutoring for Inglewood students."
- $3M to "assist Inglewood renters and to provide services to fight evictions."
- $2.5M to "assist first-time homeowners."
- $2.75M to "keep students from dropping out."
- $1M for "counseling and services for students seeking a post-secondary education."
Other benefits include funding for "senior center programs, workforce investment programs, the renovation of public basketball courts and 100 tickets for community groups to attend home games." The project will have a "goal to hire 35 percent of its event staff locally and to award 35 percent of its contracts to minority-owned businesses, with half of those contracts earmarked for businesses within Inglewood." The Clippers said that the project will "create 7,000 full- and part-time jobs during construction and up to 1,500 permanent positions once the arena opens." Inglewood "estimates it will collect up to $4.3 million annually in tax revenues from the 18,500-seat arena" (ORANGE COUNTY REGISTER, 7/29).
