James Asks Tough Questions About Anschutz Co.‘s Attempt to Sell AEG Properties

POSTED BY KEVIN JAMES FOR MAYOR ON September 19, 2012 Share Share

LOS ANGELES, CA - Yesterday an article was published in the Wall Street Journal announcing Anschutz Co.'s sale of AEG's entertainment properties including the proposed football stadium project in downtown Los Angeles.

"Now we see why my opponents on the City Council took action last week to reduce the time for public comment on the city's final agreement on the proposed downtown stadium," said Kevin James. "They are clearly willing to risk hundreds of millions of dollars of taxpayer money to help the Anschutz Co. unload its entertainment properties. But none of them are looking out for the taxpayer," James added.

Kevin James has been critical of the AEG stadium project pointing out its potential to hurt the taxpayer and increase traffic congestion among other issues. Last week James sent out a news release reminding voters and media that he accurately predicted hundreds of millions of dollars in public money would be part of AEG’s stadium deal.

Now that the stadium project is up for sale Kevin James has several questions for his City Hall opponents in the Mayor’s race who unanimously support the AEG stadium project.

Kevin James said "City officials now admit that they have known of this sale 'for some time.'" “What did my City Hall opponents know about the sale and when did they know it? Are they not concerned about who the City is going to be partnered with once a sale is final? Shouldn’t the City know who the buyer is before approving the proposed stadium deal? Shouldn’t the City have knowledge of key terms of the AEG sale before approving the proposed stadium deal?” asked Kevin James.

“Bottom line, this is a raw deal for LA and my opponents have recklessly exposed the taxpayers to great financial risk,” concluded James.

“Since my opponents have apparently known about this sale for some time, they should have hit the pause button on the stadium project since the project is predicated on the relationship with AEG. It is now even more clear that the City should focus its efforts toward the expansion of the convention center to one million square feet as I proposed months ago and away from a downtown stadium.”

Kevin James remains in support of the City of Industry stadium project proposed by Majestic Realty which poses no risk to the LA taxpayer.

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