L.A. finally reaches a deal for recovering its Olympic costs

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Set us as preferred Los Angeles officials have reached a tentative agreement with organizers of the 2028 Olympic Games laying out the process for reimbursing the city for potentially hundreds of millions of dollars in public services.The agreement, which still needs approval from Mayor Karen Bass and the City Council, would require the privately run Olympic organizing committee LA28 to provide the city with funding in advance to cover services that are ineligible for reimbursement from the federal government, such as traffic control and trash pickup.The two parties would take a somewhat different approach for police protection at high-security venues.Under the proposed arrangement, the city would seek reimbursement from the federal government for security costs at those locations, said City Administrative Officer Matt Szabo, the city’s top negotiator.If the federal government does not provide full reimbursement for those security costs, the city would seek to tap LA28’s contingency funds to cover the difference, Szabo said.“This deal ensures the 2028 Games will have the City services needed to be safe and successful, while protecting the taxpayers from footing the bill,” he said in a statement.Paul Krekorian, executive director for Bass’ Office of Major Events, praised the agreement.

“Mayor Bass’ priority is that the 2028 Olympic and Paralympic Games be fiscally responsible, protect taxpayers, and benefit Angelenos for decades to come,” he said.“This agreement helps deliver that commitment.”Negotiations between the city and LA28 have played out behind closed doors over the last year, even as critics have grown increasingly vocal about the potential for taxpayers to be saddled with huge payouts if the Games fail to generate a profit.

If organizers experience significant losses, the city would be on the hook...