Los Angeles Memorial Coliseum

 January 11, 2012

STATEMENT REGARDING

PROPOSED MODIFICATIONS TO USC LEASE WITH COLISEUM COMMISSION

 To support a public and transparent process, the Los Angeles Memorial Coliseum Commission and the University of Southern California are jointly releasing a list of points of agreement that will serve as the basis for continuing negotiations on a modified lease between USC and the Coliseum Commission.

The Coliseum Commission had announced at its meeting on December 21, 2011 that it wished to begin preparation of a lease document based on the list of points of agreement, known as a term sheet. The drafting of the full lease document is now underway and is expected to continue for several weeks. Once drafted, the lease document will also be released for public comment. Opportunities for members of the public to provide input about the proposed agreement will also be announced.

The goal of both parties is to ensure that through a modified lease agreement, the Los Angeles Memorial Coliseum will continue to be a long-term publicly-owned asset for the neighborhood, the city and the region.

The document containing the points of agreement runs 16 pages and is available at the following websites:

http://www.lacoliseumlive.com/joomla/images/11112termsheet.pdf

http://re.usc.edu

COMMENTS OR QUESTIONS? 

Questions and comments about the proposed Term Sheet can be sent to:

Email:   This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Fax:  213/747-2279

U.S. Mail:   Los Angeles Memorial Coliseum Commission
                   TERM SHEET
                   3911 S. Figueroa Street
                   Los Angeles, CA 90037 

As of January 25 over 2,000 comments have been posted regarding the proposed Term Sheet.  All comments received by Tuesday, January 31 will be tallied for the next meeting of the Los Angeles Memorial Coliseum Commission, currently scheduled for 2:30pm, Wednesday, February 1 in the Coliseum Board Room/South office. The public is invited for the Public Comment period and Open Session The agenda for that meeting, and confirmation of the scheduled time, will be posted 72 hours in advance on the Coliseum web site.