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AEG's Los Angeles Stadium Proposal Could Stick Taxpayers With The Bill

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Billionaire Philip Anschutz's plan to build a football stadium and convention-center addition in downtown Los Angeles offers the city a financial guarantee that falls short of what he gave with Staples Center 13 years ago.

The Anschutz subsidiary behind the project is providing no letter of credit or additional guarantee for $350 million of municipal bonds related to the development, according to a Feb. 16 proposal, unlike the backing provided for Staples Center.

Read the whole story at Bloomberg

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