The cost of expanding L.A.'s Convention Center keeps growing. Can the city afford it?

"For the last year, Los Angeles political leaders have searched for a way to upgrade the downtown Convention Center without also delivering cuts to core services. The city's budget team pushed for the facility to be emblazoned with digital billboards, which would produce tens of millions in ad revenue. A city-hired consultant came up with several cost-cutting measures, including the elimination of a public plaza originally planned as part of the expansion."

"If state and federal support for the signs fails to materialize, the city's general fund budget would have to provide an average of $111 million each year through 2058 to cover the cost of the Convention Center expansion, City Administrative Officer Matt Szabo said. The earliest years would be the most expensive. In 2031, for example, an estimated $167 million in taxpayer funds would go toward the Convention Center's debt and operations - even after the revenue from the project is factored in,"

Downtown Los Angeles Convention Center expansion cost rose to $2.7 billion, a $483 million increase from six months earlier. City leaders sought revenue from digital billboards and consultants recommended cost cuts, including eliminating a planned public plaza. Concerns have grown that the project's first phase may not be ready for the 2028 Olympic Games, risking the venue's status. State approval for two freeway-facing digital signs is uncertain and faces opposition from groups like Scenic America. Without state or federal backing for the signs, the general fund would need to cover an average $111 million annually through 2058, with $167 million projected for 2031.

Read at Los Angeles Times