USC Lease Announcements

December 17, 2012 - Update on Lease Agreement with the University of Southern California

On May 14, 2012, the Los Angeles Memorial Coliseum Commission approved the Amended and Restated USC Lease, as released to the public on April 24.  This document covers the period through December 31, 2054, the expiration date of the Coliseum Commission’s two separate leases with the State of California for: (a) the Los Angeles Memorial Coliseum; and (b) the Los Angeles Memorial Sports Arena. The April 24 document approved on May 14 is available here.

Section 17.12 of the Amended and Restated USC Lease lists three agreements between USC and the State of California that are “Transactions Contingencies,” to be completed before the Amended and Restated USC Lease can become effective.  These three agreements between USC and the State of California would be:

1. A Non-Disturbance Agreement for the Amended and Restated USC-Coliseum Commission lease;
2. An additional lease agreement with the State of California beyond December 31, 2054 for the Coliseum and Sports Arena properties; and
3. A separate lease with the State of California for the operation of the parking lots in Exposition Park owned by the State of California.

Since May 2012, USC and the State of California have been in negotiations regarding these agreements. The State of California has been represented by: (a) the office of the Secretary of the State and Consumers Services Agency, Ms. Anna Caballero; and (b) representatives of the Board of Directors of the California Science Center/Exposition Park (Sixth District Agricultural Association).

On December 17, 2012 the documents describing the draft agreements negotiated between USC and the State of California were released by Secretary Caballero for public review and comment.  Copies of these documents, accompanied by a statement from Secretary Caballero, may be found at:


* The website of the USC Office of Real Estate and Asset Management (link:  www.re.usc.edu).
 
 
 
 

 

April 17, 2012 - Release to Public - Proposed Restated Lease Agreement

RELEASE TO THE PUBLIC
of the
PROPOSED RESTATED LEASE AGREEMENT
between
THE LOS ANGELES MEMORIAL COLISEUM COMMISSION
and
THE UNIVERSITY OF SOUTHERN CALIFORNIA
 
The Los Angeles Memorial Coliseum Commission is releasing today (Tuesday, April 17)to the public the full text of the proposed restated lease agreement between the
Commission and the University of Southern California (USC), a California non-profit public benefit corporation, regarding the university’s use of the Los Angeles Memorial
Coliseum and Sports Arena buildings.
 
Part 1: Click HERE for the statement describing the release of the proposed agreement.
Part 2: Click HERE for a copy of the entire proposed document (including schedules)
Part 3: Click HERE for a list of supplementary documents
 
The remaining regularly-scheduled meetings of the Coliseum Commission during FY2011-2012 are Wednesday, May 2 and Wednesday, June 6 in the Board Room of the Los
Angeles Memorial Coliseum in Exposition Park. Those members of the public interested in offering public comment about this matter are urged to attend the May 2 meeting.
 
Written comments may be submitted:
 
By Email to: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
 
By U.S. mail to: Los Angeles Memorial Coliseum Commission
3911 S. Figueroa Street
Los Angeles, CA 90037
Attn: Donna Lee Dominguez
 

IMPORTANT INFORMATION--MAY 1, 2013 MEETING OF THE LOS ANGELES MEMORIAL COLISEUM COMMISSION

IMPORTANT INFORMATION--
 MAY 1, 2013 MEETING OF THE LOS ANGELES MEMORIAL COLISEUM COMMISSION


The agenda of the next regular business meeting of the Los Angeles Memorial Coliseum Commission – scheduled for 2:30pm, Wednesday, May 1, 2013 in the Coliseum Board Room – is now posted.  For a copy of the agenda, click HERE.

At the meeting of May 1, the Los Angeles Memorial Coliseum Commission will be considering – for discussion and possible action -- two major agenda items in Open Session.  To provide seven days’ advance notice about these items, the following descriptions are provided:

Agenda Item Open-3:
This item proposes approval by the Commission of a non-binding Term Sheet developed with the Negotiating Committee of the Board of Directors of the Sixth District Agricultural Association/California Science Center (“District”).   This item also proposes delegation of authority to the President of the Coliseum Commission to execute agreements based on that Term Sheet, subject to approval by 
counsel as to legal form.

The Term Sheet describes certain amendments -- regarding the rent and other financial provisions -- to the separate lease agreements, dated January 3, 1956, between the Commission and the District for: (a) the Los Angeles Memorial Coliseum; and (b) the Los Angeles Memorial Sports Arena.

In addition, the Term Sheet also describes one or more additional agreements between the Commission and the District regarding: (a) certain properties owned by the Commission in Exposition Park lot no. 1, Exposition Park lot no. 3 and Jessie Brewer Park; and (b) the allocation of parking permits for North/South Coliseum Drive on previous USC home football games from 2008 through 2012.

1. For a copy of the proposed agenda item, click HERE.

2. For a copy of the Term Sheet, click HERE.

3. For a copy of a summary table describing the impacts of the provisions of the Term Sheet, click HERE.

4. For information about the Commission-owned properties, click HERE.



Agenda Item Open -4
This item proposes approval by the Commission of certain modifications to the Amended and Restated USC-Coliseum Commission Lease approved by the Commission on May 14, 2012 but not yet executed by the parties.   These modifications have been discussed with USC to address various changes that have occurred in the past 11½ months as a result of the additional discussions between the District, USC and the Coliseum Commission in the intervening period.

1. For a copy of the agenda item, with a summary of the modifications, click HERE.
2. For a red-lined version of the May 14, 2012 Amended and Restated USC-Coliseum Commission Lease depicting the proposed modifications, click HERE.
3. For a “clean” version of the Amended and Restated USC-Coliseum Commission Lease with the proposed modifications incorporated, click HERE.

 

December 21, 2011 - Term Sheet for Amended and Restated USC Lease

To Access The Complete Term Sheet for the Amended and Restated Sublease between the Los Angeles Memorial Coliseum Commission and the University of Southern California, please click here

 

Statement issued by Commission President David Israel on December 21, 2011 (click here)

Statement jointly announced on January 11, 2012 by USC and the Coliseum Commission about the Term Sheet. (click here) 

 

 

 

 

September 5, 2012 - Presentation to Board of Directors of the California Science Center/Exposition Park

Coliseum Commission President Don Knabe and interim General Manager John Sandbrook attended the September 5 meeting of the Board of Directors of the California Science Center/Exposition Park on Wednesday, September 5 to provide a presentation regarding the Amended and Restated USC Lease that the Coliseum Commission Board approved on May 14, 2012.

 The following four documents were presented to the Board of Directors in Open Session:

1.     Remarks by Mr. Knabe (4 pages)– click here

2.     Narrative Report (40 pages) – click here

3.     List of 31 Exhibits (1 page) – click here

4.     Transmittal Letter for Report (3 pages)—click here

After reviewing the list of the 31 exhibits provided to the Board of Directors, any member of the public who wishes to receive one, some or all of the 31 exhibits should forward the request to  Ms. Donna Lee Dominguez in the office of the General Manager at:  (213) 765-6387.
 
 
 
 
 
 

 

April 24, 2012 - Revisions to Proposed Lease Between the Coliseum Commission and the University of Southern California

 

On April 24, the negotiating committee of the Coliseum Commission and USC officials agreed to modify the draft of the proposed restated lease between the parties that was released to the public on April 17, 2012.    The agreed-upon modification is the deletion of the previous Paragraph 4.5(c).   

A new version of the draft lease document, with this deletion, can now be found by clicking HERE.  

The text deleted in the previous Paragraph 4.5(c) can be read by clicking HERE.

Those members of the public interested in offering public comment about this matter are invited to attend the next meeting of the Coliseum Commission at 2:30pm, Wednesday, May 2 in the Coliseum Board Room.

Written comments may be submitted:

By Email to:   This e-mail address is being protected from spambots. You need JavaScript enabled to view it

By U.S. mail to: Los Angeles Memorial Coliseum Commission
                         3911 S. Figueroa Street
                         Los Angeles, CA 90037
                         Attn: Donna Lee Dominguez

 

 

 

 

 

Additional Documents Pertaining to Proposed Restated Lease Agreement with USC

The following documents are provided as supplemental background information regarding the proposed restated lease agreement between USC and the Los Angeles Memorial Coliseum Commission:

===============================================================


1.    September 8, 2011 and September 14, 2011 Correspondence
       •    September 8, 2011 – Commission President David Israel to USC President Max Nikias
       •    September 14, 2011 – USC Senior Vice President Todd Dickey to Mr. Israel

2.    January 11, 2012 Statement and Term Sheet

3.    February 6, 2012 Memo to Anna Caballero, Secretary, State and Consumer Services Agency, State of California

4.    April 6, 2012 Memo to Irene Romero, Board of Directors, California Science Center/Exposition Park

5.    Coliseum Events List for 2008-2009-2010

6.    Article about the History of Exposition Park
       KCET.org – November 17, 2011
       http://www.kcet.org/updaily/socal_focus/history/la-as-subject/from-agricultural-park-to-exposition-park.html