SOCI 142gm Lecture Notes - Lecture 28: Los Angeles Stadium At Hollywood Park, Proposed Los Angeles Nfl Stadiums, Financial Risk
SOCI 142 Week 10 (Thursday)
● City of Los Angeles Report (7/25/11)
● AEG
o NFL Stadium
▪ No public funds
● Would use their own private money to build
● Different from other proposals
▪ St. Louis
● Used $200 mil of public funds to build
o Convention Center – new hall
▪ AEG, guarantee, shortfall
o Tax Revenues
▪ There should be over $100 million in tax revenues
o Jobs
▪ New jobs
● LA Convention Center, 1971
o There are a shortage of hotel rooms for those who are coming from out of state
o People are spending money to go after a shrinking business less and less
people at to go to oetios eause there’s the iteret
o The ity does’t get oey fro the fees that people pay to ret the oetio
center, they get it from taxes from restaurants and souvenirs
● Football in LA
o Rams were originally in Cleveland Anaheim St. Louis Los Angeles
o Raiders from Oakland coliseum Oakland
o NFL created a new team in 1999
▪ Houston
o 1999 LA had no team so AEG came with a proposal for a new convention
center
● CSL Report
o Financial risk private sector?
o Costs – revenues?
▪ Stadium, convention center
▪ NFL team
o 1995, 22 new NFL stadiums, 21 private/public funds
▪ only one stadium was built with private funds New Jersey
● there are 2 NFL teams share it
o Farer’s Field: AEG Fuds
● Play Fair at Farmers Field Coalition
o Legal Aid Foundation
▪ Provides legal services for low income residents
o LA Community Action Network
▪ Advocates: homeless
▪ Organizes community activism especially among the homeless
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Aeg: nfl stadium, no public funds. Would use their own private money to build. Different from other proposals: st. louis. Used mil of public funds to build: convention center new hall, aeg, guarantee, shortfall, tax revenues, there should be over million in tax revenues. Csl report: financial risk private sector, costs revenues, stadium, convention center, nfl team, 1995, 22 new nfl stadiums, 21 private/public funds, only one stadium was built with private funds new jersey. There are 2 nfl teams share it: far(cid:373)er"s field: aeg fu(cid:374)ds. Play fair at farmers field coalition: legal aid foundation, provides legal services for low income residents, la community action network, advocates: homeless, organizes community activism especially among the homeless. Bring the homeless to be members and eventually on board: physician for social responsibility, gentrification displacement of residents. Loss of affordable housing: traffic, air pollution, wages: stadium jobs. Is it another case of gentrification or displacement.
