Wachs Rebuts Economic Gains From Arena

City Councilman Joel Wachs, opening a new offensive in his battle against plans for a taxpayer-subsidized sports arena complex at the Los Angeles Convention Center, on Thursday sent his colleagues packets aimed at debunking claims that the arena would revitalize the city’s long-stagnant downtown.

Wachs topped 26 pages of writings by academic researchers and newspaper articles with a two-page letter to council members, urging them to review the material before voting on the proposal by owners of the Kings professional hockey team.

He enclosed the names, affiliations and telephone numbers of 17 economists or others versed in the professional sports palace phenomenon that has swept the nation in recent years. He also said he is arranging for “two or three of the most prominent” of those cited to come to City Hall to meet with interested policymakers.

Wachs and Councilman Nate Holden are the only council members so far to oppose the project, calling it a bad deal for taxpayers, who would provide and clear the land but get none of the profits.

Proponents, including the mayor’s office and downtown business community leaders, have cited the experiences of other cities as evidence that the arena project would reap important, if indirect, benefits by sparking an economic rebirth in the core of the city.

Earlier this month, the Central City Assn. released a report by Price Waterhouse forecasting boosts in sales, tax revenues and jobs from the arena project. The group also cited other cities’ experiences--particularly that of Phoenix--as evidence of what Angelenos could expect from a new arena.