Los Angeles officials have reached a tentative agreement with private organizers of the 2028 Summer Olympics that, while short on details, serves as a road map for the biggest issues facing the city as it inches toward hosting a sporting event that could cost $7 billion or more.
Much of the so-called Games Agreement focuses on financial risk and the need for insurance against the type of expenses Tokyo incurred when the coronavirus outbreak forced a one-year postponement of its Summer Games.
The proposed contract also identifies concerns involving traffic and the homeless population, as well as the need to include small businesses and local workers in discussions about hiring and procurement.
“The Olympics and Paralympics are a golden opportunity to make sure that we can advance solutions to the issues of our day,” Councilman Mitch O’Farrell said in a statement before viewing the contract. “We have seven years to get there.”
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