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EDITORIAL L.A. ALIVE DEVELOPMENT SHOWS POTENTIAL FOR ALL OF LOS ANGELES' NEIGHBORHOODS.


WHAT'S not to like about L.A. Live This article or section contains information about expected future buildings or structures.
Some or all of this information may be speculative, and the content may change as building construction begins.

L.A.
?

The planned $1 billion downtown sports-entertainment-residential complex - which officially breaks ground today - represents the sort of forward-thinking development all Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850.  needs. It will bring people, jobs, excitement and international prestige to the city, as well as tens of millions of dollars into the public treasury every year.

The sooner L.A. Live becomes a reality, the better.

The same, however, cannot necessarily be said for another downtown project - the proposed 56-story, 1,200-room hotel adjacent to the Los Angeles Convention Center The Los Angeles Convention Center (abbreviated LACC) is a convention center in downtown Los Angeles. The LACC hosts annual events such as the Greater Los Angeles Auto Show, and was best known to video games fans as host to E3 until its cessation in 2006. , whose developers demand the promise of a public subsidy before they get started, plus the right to keep the 14 percent occupancy tax for the next 25 years. That works out to about a quarter of a billion dollars over time.

With that kind of money on the line and the massive losses the city is suffering from its white elephant White Elephant

Any investment that nobody wants because it is unprofitable.

Notes:
The term 'White Elephant' is derived from Thailand, where an Albino (white) elephant was given to unfavored people by the ruler.
 Convention Center, it's no wonder the hotel is a big question mark that needs a lot of public scrutiny and debate before it gets the green light.

L.A. Live will be built - and is likely to become a tremendous success given the track record of Anschutz Entertainment Group The Anschutz Entertainment Group (AEG) is a sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. The company owns or operates several major entertainment/sporting venues, including Staples Center and The Home Depot Center and beginning in  President Tim Leiwicke, who developed Staples Center This articlearticle or section has multiple issues:
* Its neutrality is disputed.
* It may contain original research or unverifiable claims.
* It does not cite any references or sources.
 - with or without the hotel.

Maybe, as some claim, a mammoth hotel is what's needed to save the Convention Center, which runs a $1 million operating deficit, and also saddles the city with $30 million in annual debt financing Debt Financing

When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay
.

But city officials have a long way to go before persuading the public that a hotel is the answer to all the Convention Center's problems.

To get there, there are some simple things they can do.

First, the city needs to get an independent and impartial analysis of the plan, complete with actual income projections to show how the hotel would bring the Convention Center to solvency and make money for the city. Show us the numbers.

Second, and more important, is that city leaders must demonstrate that creative energies and taxpayer money are being brought together in the Valley and the other under-served parts of the city to create good jobs, good housing and good schools in a safe and healthy environment.

No one begrudges L.A. Live. It promises to be a great boon for downtown and all of Los Angeles, creating a safe, healthy and prosperous destination - something that cannot be said with the same assurance for the grandiose Grand Avenue Project that appears to offer little to the region's economy.

The critical question is this: Where's the same energy, vision, public-private cooperation that has gone into L.A. Live and Grand Avenue being brought to bear to regenerate re·gen·er·ate  
v. re·gen·er·at·ed, re·gen·er·at·ing, re·gen·er·ates

v.tr.
1. To reform spiritually or morally.

2. To form, construct, or create anew, especially in an improved state.
 North Hollywood, East L.A., Pacoima and South L.A.?

If Los Angeles' leaders could offer real plans for comparable revitalization re·vi·tal·ize  
tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es
To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy.
 throughout the city, the public would be far more likely to invest in trying to save the Convention Center.

L.A. Live holds great promise for the city, showing what strong civic leadership can accomplish. Let it be a beacon to the world - and a sign of good things to come for all of L.A.
COPYRIGHT 2005 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Editorial
Publication:Daily News (Los Angeles, CA)
Article Type:Editorial
Date:Sep 15, 2005
Words:525
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