Saying a proposed downtown sports arena is still not a good deal for Los Angeles, City Councilman Nate Holden said Friday he is considering launching his own initiative drive to give the public a chance to vote on the project.
At a news conference, Holden blasted council colleague Joel Wachs for agreeing to a new financial deal with the developers, who own the Los Angeles Kings hockey team. As a result of that agreement, Wachs decided to exempt the proposed arena from an initiative drive he was planning.
But Holden questioned Wachs' motives, saying the councilman had been "deceptive."
"What did he do? He crossed a few more Ts, dotted a few more I's, and called it a good deal," Holden said. "That's a lie."
Wachs defended his position, saying the new financial agreement dramatically reduces a taxpayer subsidy and will be a much less risky venture for the city.