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Coliseum Garages

June 02, 1999

If the owners of the prospective NFL team want parking garages built for their new stadium (May 25), they should have season-ticket holders loan the money for construction to the city interest-free at $5,000 per ticket. The city could operate the garages, return all profits over the next 25 years to the season-ticket lenders in lieu of interest and then take title to the garages. If the garages lose money, the city should absorb those costs as a condition to acquiring the garages in 25 years. This proposal provides the lenders all the upside while limiting the downside for the city, a true public-private partnership.

GERRY SWIDER

Sherman Oaks

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