Report on Downtown Arena Plan Released

City officials are not getting the revenue guarantees they sought in negotiations for a professional sports arena complex in downtown Los Angeles, a document released Wednesday showed.

The document, a three-page summary of the tortuous negotiations that are not expected to conclude until today or Friday, was released moments before a City Council panel met for the first public airing in several weeks on a proposal by Kings hockey team owners to build an arena at the Convention Center that would house the Kings and the NBA’s Lakers.

The city would be putting up at least $70.5 million to acquire and prepare the land and, spurred by Councilman Joel Wachs, the council had sought guarantees that arena operations would cover the taxpayers’ costs, nearly $7 million a year for 25 years to repay bonds the city would issue for its share of the project.

Wachs accused Chief Administrative Officer Keith Comrie of “talking out of both sides of his mouth� in characterizing the deal Wednesday as substantially what the council had sought.

Comrie acknowledged that city negotiators could not get the guarantees they wanted but said he felt he was clear about that during his summary to the committee and believed the final deal, which will go to the council Wednesday, will be something “the council should be pleased with� despite the concessions.