L.A. wants guarantee that NFL team will stay for a while

As in 20 or 30 years - or until all city debt related to the downtown stadium project is paid off. The council's ad hoc committee on the proposed convention center/stadium bounced around the debt question during a morning hearing. Here's the deal: Tearing down the convention center, which is part of the master plan by developer AEG, would require that L.A. borrow about $350 million. AEG has promised to make up any shortfall in new tax revenue needed to repay the debt. "This is one of the major issues," said Chief Legislative Analyst Gerry Miller. From the LAT:

Marc Ganis, a Chicago-based consultant who has worked on many NFL stadium projects, told The Times on Monday that securing a long-term commitment from a prospective Los Angeles team is possible but "it won't be simple." Complications include the Los Angeles area's poor record with past NFL teams, the lack of a major public subsidy for the stadium and the fact that the team may not also own the stadium, he said. However, to protect themselves, cities can require that any public indebtedness be paid off before a team can relocate, he said.