Budget and Finance Committee meeting summary | Economic Development | Los Angeles | The Common News

Summary

Budget and Finance Committee meeting summary

Los AngelesSep 9, 20252 min read

At a glance

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The Committee reviewed three items — final direction on the Los Angeles Convention Center expansion EIR, authorization to issue up to $990 million in MICLA lease revenue bonds for the Convention Center, and a proposed contract amendment for legal services in ongoing litigation — and continued all three items to September 16, 2025.

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Los Angeles Convention Center Expansion Finance Committees. Economic Development Economic Development

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Budget and Finance Committee

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Budget & TaxCommerceEnvironmental

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What this means

The committee discussed plans and financing for the Los Angeles Convention Center expansion and whether existing environmental review is sufficient, a proposal to issue up to $990 million in city-backed lease revenue bonds to help pay for the project, and a request for more funding for outside legal services in an ongoing lawsuit. No final approvals were made; all decisions were deferred to a future meeting on September 16, 2025. This means residents should not expect immediate construction or financing actions until the committee and City Council take further steps.

Key decisions

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Continued Item 15-1207-S1 (Chief Legislative Analyst and CAO reports regarding Los Angeles Convention Center Expansion and CEQA/ EIR findings) to September 16, 2025.
Continued Item 15-1207-S3 (CAO request to authorize issuance and sale of up to $990 million in MICLA lease revenue bonds for the Los Angeles Convention Center) to September 16, 2025.
Continued Item 20-0263-S3 (City Attorney report proposing a First Amendment to contract for additional legal services with Gibson, Dunn & Crutcher, LLP, related to LA Alliance for Human Rights litigation; item included possible recess to Closed Session) to September 16, 2025.

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Meeting information

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Budget and Finance Committee

Sep 9, 2025, 6:45 PMCalled by Committee Chair, SPECIAL – Budget and Finance Committee, Tuesday, September 9, 2025 - 11:45 AM, JOHN FERRARO COUNCIL CHAMBERcompleted

Agenda

15-1207-S1 CD 9 Chief Legislative Analyst and City Administrative Officer (CAO) reports, and CAO addendum relative to the final direction on the Los Angeles Convention Center Expansion and Modernization Project and finding that the project was assessed in the previously certified Convention and Event Center Project Environmental Impact Report (EIR), and that pursuant to California Environmental Quality Act (CEQA) Guidelines, Sections 15162 and 15164 and the First Addendum and Joint Analysis, dated December 2021, and Second Addendum, dated August 2025, that no major revisions to the EIR are required and no subsequent EIR is required for approval of the project; and related matters. (This item is referred to Economic Development and Jobs, Personnel and Hiring, and Budget and Finance Committees. Economic Development and Jobs Committee considered this item on September 2, 2025.) Fiscal Impact Statement: Yes Financial Policies Statement: Yes Debt Impact Statement: Yes Community Impact Statement: None submitted
15-1207-S1
Decision: Special Agenda: ITEM(S)
15-1207-S3 CD 9 City Administrative Officer report and Addendum relative to requesting authorization for the issuance and sale in a principal amount up to $990 million of Municipal Improvement Corporation of Los Angeles (MICLA) lease revenue bonds 2025-A (Los Angeles Convention Center) and MICLA lease revenue bonds series 2025-B (Los Angeles Convention Center) (Federally Taxable). (This item is referred to Economic Development and Jobs and Budget and Finance Committees. Economic Development and Jobs Committee waived consideration of the item.) Fiscal Impact Statement: Yes Financial Policies Statement: Yes Debt Impact Statement: Yes Community Impact Statement: None submitted
15-1207-S3
Decision: Special Agenda: ITEM(S)
20-0263-S3 City Attorney report relative to a proposed First Amendment to Contract for additional appropriation for legal services with Gibson, Dunn & Crutcher, LLP, to assist in litigation related to LA Alliance for Human Rights et al. v. City of Los Angeles et al. , USDC Central District Case No. 2:20-cv-02291-DOC-KES. The Committee may recess to Closed Session, pursuant to Government Code Section 54956.9(d)(1), (d)(2), and (e)(1) [significant exposure to litigation] to confer with its legal counsel relative to the case entitled LA Alliance for Human Rights, et al. v. City of Los Angeles, et al., United States Central District Court Case No. 2:20-cv-02291, Ninth Circuit Court of Appeals Case No. 22-55687 (one potential plaintiff). Community Impact Statement: None submitted
20-0263-S3
Decision: Special Agenda: ITEM(S)

Documents from this meeting

Special Agendahttps://lacity.primegov.com/Public/CompiledDocument?meetingTemplateId=145853&compileOutputType=1
Minuteshttps://lacity.primegov.com/Public/CompiledDocument?meetingTemplateId=145850&compileOutputType=1

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