AEG settles dispute over downtown stadium

farmers4.jpgThis one involved the Play Fair at Farmers Field Coalition, which wanted to invalidate a state law that limits legal challenges against the stadium. In exchange for dismissing the lawsuit, AEG is promising a $15-million trust fund for low-income housing in the area and nearly $2 million in traffic- and air-pollution-control measures. This was the last legal obstacle that threatened to hold up construction of the facility. Still ahead, however, is getting an NFL team and then getting the league to sign off on the downtown stadium. The league doesn't seem to be in any hurry, but perhaps that just posturing. From the LAT:

The settlement comes on top of roughly $50 million in concessions AEG says it had already agreed to pay, including $10.3 million for a new platform at a Metro Blue Line Station and $8 million in upgrades to a plaza outside the Convention Center. Barbara Schultz of the Legal Aid Foundation, which was also a part of the lawsuit, said the new deal "provides protections to the surrounding communities that weren't in any of the other agreements between the city and AEG."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
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