The California Science Board voted on Tuesday to approve a new plan that would give USC control over Coliseum parking lots, ending contentious discussions between the private university and the museum.
The Board voted unanimously in favor of the plan according to LA Daily News’ Scott Wolf, a decision that brings USC one step closer in its endeavor to having control of the Coliseum.
Going forward, should the lease ultimately get approved, USC will get parking revenue from Coliseum events, money that used to go towards funding the museums in Exposition Park. For those that support the California Science Center, this deal is viewed as one that could cripple the CSC, as well as the California African American Museum and the park’s funding as a whole.
According to the plan outlined by the school, “USC has promised to spend at least $70 million on stadium upgrades and pay $1 million a year to the state in rent,” reports the LA Times. “The state would also receive 5% of the proceeds from the sale of naming rights to the Coliseum. USC would get 95% of those proceeds and all other revenues, including from non-football events. The public would be guaranteed no other money.”
As noted in a previous post about this, the California Science Center Foundation–which is an independent entity from the Board that just approved the deal–could file a lawsuit asking the courts to invalidate the deal, on the grounds that it is a misappropriation of public property on behalf of a private institution.