LOS ANGELES (AP) – The Los Angeles suburb of Carson will consider a proposed $1.7 billion NFL stadium Tuesday – even though many details haven’t been worked out and funding is uncertain.
The City Council was expected to vote on whether to approve the stadium plan now or schedule a summer election.
The San Diego Chargers and Oakland Raiders want to share a Carson arena if both teams fail to get new stadiums in their hometowns.
Details that have not been worked out involve parking, a land swap to free up a former landfill site that already has development plans, and even whether the arena would make money.
Still, the City Council might not want to wait to show its willingness to bring the NFL back to the Los Angeles area after a two-decade absence.
In February, neighboring Inglewood approved a nearly $2 billion stadium project backed by St. Louis Rams owner Stan Kroenke.
The city-commissioned Carson report, released in advance of the meeting, said the proposal lacks any detailed site plans, making predictions on its functioning and finances difficult.
The stadium would have a capacity of 70,000 and there would be 10,000 parking spots on site, with thousands more needed for game days, the report concluded.
There also is a question about whether the city might lose $1.4 million a year in federal and state funds by building a stadium on the site instead of following a previous plan to create 1,500 affordable housing units, although the report also suggests there are alternative places to build.
The documents released by the city included a financial analysis by consultant AECOM, which found that the stadium would need two teams to be a steady money-maker for the city.
AECOM estimated that with two teams in the venue, the city budget would see a net fiscal gain in each of 40 years. Over time, the city could realize about $140 million from rent and other fees.
However, the report found that if a single team plays in the stadium, the city budget would face annual fiscal losses in most of the first 30 years. Thereafter, according to the estimate, the city would bring in a total of $85 million.
Chargers attorney Mark Fabiani called the report’s calculations flawed. He said it assumed the loss each year of $1.4 million in federal aid that could be maintained.
Also, he said the report looked at tax revenues generated directly from the stadium, not the effect across the area that other research has shown would be an economic boost.
25% Bonus via Western Union
