Opinion: L.A. City Council considers $30 million loan for Cirque du Soleil
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The Los Angeles City Council plans to vote Tuesday on a proposal that would bring a new Cirque du Soleil show to the Kodak Theater for a 10-year run, provided that the city agrees to provide a $30-million federal loan from the Department of Housing and Urban Development.
The loan program is specifically for projects that promote economic development and job creation. Proponents of the Cirque du Soleil proposal, including the Community Development Department that gave the OK earlier this week, say the show would create more than 900 jobs at the theater and the Hollywood and Highland complex. The report that details a plan for the jobs that will be created is still under wraps, however.
The Cirque du Soleil show is expected to fill 85 percent capacity, as most Cirque shows do across the globe, event though tickets will cost $110 each, and the show will run twice a day. Officials at the CDD say the demand is there and tourists will come to Hollywood just to see the show.
The editorial board is mulling this proposal over, and we’d like to hear your thoughts on it. Click here to find the full report on the loan.