LOS ANGELES : 1-Year Delay in Coliseum Renovation Called Likely
Coliseum Commission officials said they made no progress Wednesday in attempts to arrange financing for a $116-million renovation of the Los Angeles Memorial Coliseum, and the developer planning the renovation said it appears likely that the project will be postponed at least a year.
William Robertson, the commission’s president, said a proposed commission grant of $4 million to expedite planning will not be voted on until the Coliseum’s private managers, the Spectacor Management Ltd. Partnership, guarantee that financing has been secured to go ahead with the project.
Wayne Ratkovich, the developer retained by Spectacor, said it is still conceivable that the project could proceed at the end of the upcoming football season, but added that “a much more likely scenario would be a year later.”
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