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by Michael C. Lowe | August 17, 2011

 A $1.2 billion National Football League stadium in downtown Los Angeles is moving forward after the city council unanimously approved the overall framework for financing the project last week, according to the Los Angeles Times. Anschutz Entertainment Group, which also is responsible for the development of the 4 million-square-foot L.A. Live entertainment complex adjacent to the Los Angeles Convention Center, entered a nonbinding agreement that would allow it to demolish and relocate a section of the Los Angeles Convention Center. The new space would be used for a 72,000-seat stadium just south of the StaplesCenter and would be completed in 2016. The agreement also includes plans for a renovation of the convention center.