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| 20th May, 2006 - 4:41 am | aol.com - The City Council voted Friday to spend $25 million on improvements around the Los Angeles Memorial Coliseum in hopes of luring an NFL team back to the city.
Under the plan, the city Community Redevelopment Agency would issue $25 million in bonds for street widening, site clearing and other work near the Coliseum, which would be paid for by expected tax revenue from the stadium.
In coming years, the city estimates it could spend up to $121 million more for additional transit and other improvements, which would also be funded by stadium taxes. [READ] |
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