Downtown Developers Have Vision, All Right

James Flanigan’s column applauds a deal under which the city of Los Angeles would sell $60 million of taxable bonds to buy land and provide it for a project under which a sports arena would be erected by the co-owners of the L.A. Kings, one a local developer and the other a Denver investor (“Lost Angeles?” Aug. 7). Flanigan speaks of these developers as having “vision.”

These developers surely do have vision. They have a vision of a $60-million handout paid by every taxpayer in Los Angeles to build so speculator an arena that most L.A. residents will not be able to pay the price to attend. And they will get that arena under CRA rules--which means that the increase in land values will stay with the CRA and not go for better police protection, schools or other pressing needs.

Flanigan bemoans the plight of the downtown property owners. According to a survey reported in The Times, over half of the downtown land is owned by foreign investors. We need not weep for them.

These developers have a vision of a fast buck realized at the expense of the entire community.

STANELY M. SAPIRO

Malibu

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So we are at it--again. Let’s make downtown alive after-hours--again. Let’s throw millions of dollars at redevelopment exercise--again. Let’s have a new sports arena, a new L.A. CityWalk and a Grand Hotel, an entertainment complex and a park adjacent to the ailing Convention Center, with the major attractions of the Lakers and the Kings playing there.

Not a bad idea, really, except that it is near impossible to pull off. And I do not worry where the money will be coming from as long as there are taxpayers around.

GEORGE KEMENES

Los Angeles