LAist -- An ad hoc L.A. City Council committee has endorsed developer AEG's financial framework plan for building a football stadium downtown at L.A. Live, reports ABC7.
The vote took place last night, with committee members agreeing in a unanimous 4-0 vote to push the deal through to the full council.
The plan states that AEG will pay to build the estimated $1.2 billion stadium, tentatively called Farmer's Field. The new stadium would require that a wing of the L.A. Convention Center be torn down.
The stadium is estimated to be worth $700 million over the next 30 years, and could create as many as 6,000 new jobs.
The full city council is expected to vote on the plan next week.
LAMediaWatch.com
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