Assemblyman Chuck DeVore proposed a bill this week that would require the state to sell the land occupied by the Los Angeles Coliseum and Memorial Sports Arena.
DeVore said USC or private investors could do more with the property than the state has done with it and that its sale would help California deal with its projected $14.5-billion deficit. Preliminary appraisals have placed the property’s value at about $700 million.
With a serious injection of funding from a private source, Los Angeles County could even try to court an NFL team, which would bring in a lot of extra tax dollars, DeVore said.
Right now, the property is jointly owned by Los Angeles, Los Angeles County and the Sixth District Agricultural Assn.
— Alan Blank