COLISEUM FINANCING DETAILED; REMODELING OF LANDMARK STADIUM WOULD INVOLVE LITTLE PUBLIC MONEY.

Byline: Rick Orlov Daily News Staff Writer

The addition of billionaire businessman Eli Broad to elevate the effort to bring a National Football League expansion team to the city has also served to raise questions of how a remodeled Coliseum will be paid for.

With a $357 million construction price tag estimated for the futuristic stadium that would include a partial roof, luxury boxes and modern amenities, officials on Friday detailed the financing plans.

John Semcken, vice president of the New Coliseum Partners, said plans now call for only a limited public involvement - having learned from the battles over financing of the Staples Center Arena.

``When you talk public involvement, it is $40 million at the most,'' Semcken said. ``Of that, $20 million will come from a ticket surcharge and the other $20 million from the Community Redevelopment Agency.''

But CRA Administrator John Molloy said his agency would not become involved until after an expansion team is awarded and work completed on the Coliseum remodeling in 2002.

``We would issue a bond, but only after the county guarantees we would be able to collect $2 million a year in possessory interest,'' Molloy said. ``That's the only way we could become involved.''

Even Councilman Nate Holden, a leading critic of the effort to bring an expansion team to the city, said such a move would be acceptable to him.

``I welcome Eli Broad joining with Ed Roski to try to bring a football team here,'' Holden said. ``But I wouldn't support giving a couple of billionaires any money unless we're guaranteed it will be paid back.''

Holden has been warning local officials they still face a threat from Al Davis and the Oakland Raiders. Davis has a suit pending in federal court over whether he retains the rights to play in Los Angeles, even though he deserted the city four years ago.

Semcken said the other costs in financing the stadium would come from $100 million to $150 million in the sale of personal seats, licenses, the possibility of some $50 million in tax credits for maintaining a historic structure and $217 million in privately financed bonds.

``If there are additional costs, they aren't a real concern,'' Semcken said. ``That's the strength of having an Eli Broad. He said if we don't hit the projections, we will just pay cash.''

Semcken said the estimates made have been conservative and he and others believe the stadium and football team will show substantial profit.

Semcken said he believes the new partnership also can show there has been substantial public involvement to meet the NFL requirements of participation by local government.

Among other things, Semcken said the partnership will point to the $100 million earthquake repair work done on the outer shell of the stadium, the $113 million in work done on the nearby Harbor Freeway as well as the $85 million value of the publicly owned land.

The city will also receive some benefit in increased sales tax as well as any new revenue generated from various other development plans, such as those of the Disney Co. and its interest in opening an ESPN Experience outlet.