City Council to Vote on NFL Stadium Plan Today
The L.A. City Council is expected to vote today on a plan for an NFL Stadium at L.A. Live, reports CBS News.The plan, which would represent an agreement between the city and developer AEG, lays out the financial framework for the stadium. It states that AEG will pay for the building of the $1.2 billion stadium, and will reimburse the city for any business lost when a wing of the L.A. Convention Center is torn down. The city would pay for the wing being torn down through tax exempt bonds.
The plan was approved by an ad hoc committee last week.