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Two state lawmakers want to see what Sacramento can get for the land under the Los Angeles Memorial Coliseum. They say the proceeds could help out the state budget shortfall. Of course, offering for sale is not the same as selling land in the middle of a park with a historic stadium sitting on top of it. Sacramento Bee snippet follows:
Conservative lawmakers have long maintained that California should shed its interest in high-value but under-used properties like the 85-year-old stadium, which has lost two NFL teams and recently ran into negotiation problems with neighboring University of Southern California to keep its football team."Just get the state out of it," DeVore said. "Why should the state be owning land in the middle of Los Angeles?"
Past efforts, however, have been short-lived because the property is a national landmark encumbered by existing lease agreements, said Pat Lynch, general manager of the Coliseum and Sports Arena. In December, Gov. Arnold Schwarzenegger announced an agreement between the state and Los Angeles Coliseum Commission on lease terms through 2055.
"Selling a partially state-owned landmark would be a difficult chore and to get any value would be even more difficult," Lynch said. "This isn't the first time this has been talked about."
The Coliseum and Los Angeles Memorial Sports Arena are under the authority of the Coliseum Commission, which was formed under a joint-powers act between the city and county of Los Angeles, as well as the state, back in 1945. Located in the 160-acre Exposition Park in South Los Angeles, the two structures sit on parcels of land owned by the state. The city and commission own smaller parcels of the park.