LOS ANGELES (CelebrityAccess MediaWire) — Promoter and venue operator AEG Live has reached an agreement to end a legal challenge to the construction of the new, downtown football stadium, Farmer's Field.
According to the Los Angeles Times, the deal will see AEG pay $15 million to a coalition of neighborhood and anti-poverty groups called the Play Fair at Farmers Field Coalition who filed a lawsuit contesting a controversial law that requires all environmental challenges to the stadium's environmental impact report to be resolved within 175 days.
The $15 million will be used to create a trust fund to help build affordable housing near the site of the stadium. AEG will put an initial $250,000 into the trust next month, with the remainder to follow when the stadium is completed.
"For the first time in almost two decades the City of Los Angeles is finally poised to see the return of the NFL," AEG's Tim Leiweke told the Times. "With this settlement in place, the project can move forward to spur job creation and offer an even more robust package of measures benefiting the community." – CelebrityAccess Staff Writers