It's a Race to the Wire for Bold LA Project

LOS ANGELES-The city council here will vote next Tuesday on a $1-billion-plus plan to build the largest mixed-use project in the history of Downtown, after a vote by a key subcommittee was cancelled because some print journalists didn’t see a notice of the meeting that was posted on the Internet.

By law, the city Ccuncil must vote on the proposal by Sept. 5. If the vote is delayed again, the development team would essentially lose its preliminary approvals and would have to start the process anew—-or could scrap the project altogether.

The development group is known as LA Arena Land Co. and includes Anschutz Entertainment Group, headed by Denver billionaire Philip Anschutz, and media mogul Rupert Murdoch’s Fox Entertainment Group. Anschutz helped to build Downtown’s wildly successful Staples Center sports and entertainment facility, which has been credited with helping turn the CBD around since opening about two years ago. Murdoch, owner of several TV networks and newspapers around the world, also owns the Los Angeles Dodgers.