Committee delays decision on Los Angeles Convention Center expansion after staff flags cost, schedule and revenue risks

The Los Angeles City Council Budget and Finance Committee on Sept. 9 heard a detailed staff briefing on the proposed expansion and modernization of the Los Angeles Convention Center and agreed to continue consideration of two related items for one week while staff returns with more information.

City administrative staff told the committee the project’s current total cost estimate is about $2.72 billion, with $2.04 billion in construction costs and roughly $565 million set aside for city-side costs and contingencies. Staff said the city already has incurred approximately $82 million in pre‑construction costs, of which about $54 million has been spent and roughly $28 million remained. The total amount to be financed, including interest and other financing costs, was presented as about $3.2 billion.

That presentation, delivered by city administrative staff (identified in the record as Matzebol and other project staff), emphasized three main risks: rising construction costs, a hard deadline tied to the 2028 Olympics schedule and uncertainty about two expected revenue streams — highway signage revenue subject to Caltrans review and power capacity from the Los Angeles Department of Water and Power (LADWP). Staff told the committee the project would expand exhibit and meeting space and that construction would create thousands of jobs, but cautioned that delays or scope…