Companies who are engaged in the business planning process are likely aware of how important lease agreements can be both during business formation and throughout the life of a company. Recently, a California group voted to approve a new lease agreement that would grant USC the authority to supervise ongoing operations for the LA Memorial Coliseum. The master lease must still be approved by multiple state agencies, however. Some lease agreements can take longer to negotiate than originally estimated.
The lease agreement would grant USC the right to manage day-to-day operations of the facility; however, the Coliseum Commission would still act as landlord. Apparently, some groups are not completely in favor of the proposed master lease as it stands. The LA Times and a first amendment group called Californians Aware previously filed suit in court requesting that a new vote be held. According to them, the Coliseum Commission failed to meet state law requirements for holding meetings that were open to the public.