In the bustling heart of Los Angeles City Hall, the Budget and Finance Committee convened on September 16, 2025, to discuss pivotal developments surrounding the city's ambitious design-build projects, particularly in preparation for the upcoming Olympics. The atmosphere was charged with urgency as committee members focused on the intricate details of project financing and design finalization.

A key point of discussion was the collaboration between Plenary, the partner in the APCLA (the Los Angeles Convention Center's redevelopment project), and AEG, a major player in the project. Contrary to circulating rumors, officials clarified that AEG is not exiting the project. Instead, they are committed to fulfilling their obligations, which include essential easements and property rights necessary for the project’s progression. This reassurance came as a relief to many, given the project's tight timeline and the critical need for Olympic readiness.

The committee emphasized that the design phase is nearing completion, with 100% design development achieved—a significant milestone that typically sees projects reaching commercial close at 30% to 50% design development. This thorough preparation has minimized the scope for changes, which is crucial as construction enabling works are set to begin immediately. The urgency of the timeline was palpable, with committee members stressing that there is little room for alterations that could derail the project.

Moreover, discussions touched on the financial discipline required to maintain momentum. A proposal to set aside $100 million for potential changes was met with skepticism, as officials argued that such funds could lead to indecision and delays. Instead, they advocated for a focused approach, allowing only specific allowances for areas needing further design, such as kitchen and catering facilities and digital signage, which has faced delays due to political factors.

As the meeting progressed, the committee members recognized the importance of AEG's role in the project, particularly in light of the city's recent decision to remove long-term operations and maintenance from the agreement. This shift altered the financial landscape, eliminating the need for private capital from AEG, but did not diminish their commitment to the project.

As the meeting concluded, the committee left with a clearer understanding of the project's trajectory and the collaborative efforts required to ensure its success. With the clock ticking down to the Olympics, the focus remains on maintaining momentum and delivering a project that meets the city's ambitious goals. The discussions highlighted not only the complexities of urban development but also the collaborative spirit that drives Los Angeles forward.