NFL and West Covina

Billionare land developer Ed Roski, who wants to bring an NFL stadium to the city of Industry, is still jumping through the many hoops to find a team that wants to play in his state of the art facility.

But at least he'll have the city of West Covina backing his plans. West Covina City Council will vote on a memorandum backing the stadium, which will be near the intersection of the 60 and 57 freeways.

BTW: Interesting that Roski has said in the past that traffic impacts in that area will be minimal if a stadium comes to town. Do you believe him?

Here's the staff report:

City of West Covina
Memorandum
A G E N D A

ITEM NO. D - 8c
DATE August 19, 2008

TO: Andrew G. Pasmant, City Manager
and City Council

FROM: Chris Freeland, Assistant to the City Manager

SUBJECT: RESOLUTION SUPPORTING THE CONSTRUCTION OF A NFL STADIUM IN THE CITY OF INDUSTRY, CALIFORNIA

RECOMMENDATION:

It is recommended that the City Council adopt the following resolution:

RESOLUTION NO. _____________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WEST COVINA DECLARING ITS SUPPORT FOR THE CONSTRUCTION OF A NFL STADIUM IN INDUSTRY, CALIFORNIA.

DISCUSSION:

On October 28, 2004, the City of Industry approved an Environmental Impact Report (EIR) for a 4.8 million square foot Industry Business Center to be located near the intersection of the 57 and 60 freeways in the City of Industry. On April 16, 2008, Majestic Realty Co. applied for modifications to the EIR to permit the development of a football stadium suitable for a National Football League (NFL) team and reduce the size of the Industry Business Center Development.

The proposed 592-acre development is to include:

Stadium (with Team Facilities): 75,000 Seats, including 11,000 Club seats and 175 Suites

Office Buildings: 1.49 million sq. ft.

Retail Shops: 833,000 sq. ft.

Restaurants: 162,000 sq. ft.

Live Theater: 5,000 seats (60,000 sq. ft.)

Movie Theater: 1,200 seats (60,000 sq. ft.)

Green and non-parking Open Space: 271 acres

The proposed stadium will include the following:

Total Seats: 75,000 (expandable to 80,000 for Super Bowl games)

Suites: 175

Club Level: 11,000 seats

Team Offices: 45,000 sq. ft.

National Football League (NFL) Attraction: 40,000 sq. ft.

Team Store and Other Sponsored Retail Stores: 30,000 sq. ft.

Restaurants: 30,000 sq. ft.

Banquet facilities: 20,000 sq. ft.

NFL Team Training Facility: 115,000 sq. ft.

Medical Center and Clinic: 100,000 sq. ft.

Parking Spaces: 25,000 spaces

According to Majestic Realty Co., the shape of the Los Angeles Stadium will be an asymmetrical bowl which will provide improved seat positions and site lines for both general admission and premium fans.

The Stadium will anchor nearly 3 million square feet of mixed-use (entertainment, retail, commercial, office) development designed to express the Southern California lifestyle and provide retail and entertainment to families year round. The proposed project will create thousands of new jobs in the region and based on Majestic Realty's success with Staples Center, property values of the surrounding communities will increase.

City staff also anticipates that the development could create ancillary benefits, such as, increased property tax, hotel occupancy tax, sales tax revenues, and the opportunity for new commercial developments/tenants in West Covina if the proposed stadium is approved.

The proposed stadium is completely funded with private investment funds and will be constructed using recycled materials, water conservation features, and other "green" elements to be environmentally friendly, including the restoration of adjacent waterway and trails.

Attached is a resolution supporting the proposed stadium project, as well as, a rendering of the proposed development.

FISCAL IMPACT:
The anticipated increases in sales tax, property tax, hotel occupancy tax, and other revenues to West Covina from the proposed stadium are unknown at this time.

Prepared by:

___________________________
Chris Freeland
Assistant to the City Manager