IMPORTANT INFORMATION--MAY 1, 2013 MEETING OF THE LOS ANGELES MEMORIAL COLISEUM COMMISSION
MAY 1, 2013 MEETING OF THE LOS ANGELES MEMORIAL COLISEUM COMMISSION
The agenda of the next regular business meeting of the Los Angeles Memorial Coliseum Commission – scheduled for 2:30pm, Wednesday, May 1, 2013 in the Coliseum Board Room – is now posted. For a copy of the agenda, click HERE.
At the meeting of May 1, the Los Angeles Memorial Coliseum Commission will be considering – for discussion and possible action -- two major agenda items in Open Session. To provide seven days’ advance notice about these items, the following descriptions are provided:
Agenda Item Open-3:
This item proposes approval by the Commission of a non-binding Term Sheet developed with the Negotiating Committee of the Board of Directors of the Sixth District Agricultural Association/California Science Center (“District”). This item also proposes delegation of authority to the President of the Coliseum Commission to execute agreements based on that Term Sheet, subject to approval by
counsel as to legal form.
The Term Sheet describes certain amendments -- regarding the rent and other financial provisions -- to the separate lease agreements, dated January 3, 1956, between the Commission and the District for: (a) the Los Angeles Memorial Coliseum; and (b) the Los Angeles Memorial Sports Arena.
In addition, the Term Sheet also describes one or more additional agreements between the Commission and the District regarding: (a) certain properties owned by the Commission in Exposition Park lot no. 1, Exposition Park lot no. 3 and Jessie Brewer Park; and (b) the allocation of parking permits for North/South Coliseum Drive on previous USC home football games from 2008 through 2012.
1. For a copy of the proposed agenda item, click HERE.
2. For a copy of the Term Sheet, click HERE.
3. For a copy of a summary table describing the impacts of the provisions of the Term Sheet, click HERE.
4. For information about the Commission-owned properties, click HERE.
Agenda Item Open -4
This item proposes approval by the Commission of certain modifications to the Amended and Restated USC-Coliseum Commission Lease approved by the Commission on May 14, 2012 but not yet executed by the parties. These modifications have been discussed with USC to address various changes that have occurred in the past 11½ months as a result of the additional discussions between the District, USC and the Coliseum Commission in the intervening period.
1. For a copy of the agenda item, with a summary of the modifications, click HERE.
2. For a red-lined version of the May 14, 2012 Amended and Restated USC-Coliseum Commission Lease depicting the proposed modifications, click HERE.
3. For a “clean” version of the Amended and Restated USC-Coliseum Commission Lease with the proposed modifications incorporated, click HERE.