AEG Willing to Pay L.A. Lease Payments for Proposed Stadium Land
By Community | February 18, 2011
Leading stadium specialist AEG has reportedly offered to make lease payments for use of city land as part of a financing deal for Farmers Field, ailment the planned NFL-ready stadium in downtown L.A.
AEG lists rent from a proposed ground lease as “part of the revenues that would be used to repay” the $325-350m in city bonds that would be issued for the project.
AEG submitted a three-page document to city negotiators on Wednesday, remedy February 16, but according to the LA Times, this “does not indicate how much would be derived from a long-term lease”.