Los Angeles City Council President Herb Wesson on Friday introduced a motion that could grant Mayor Eric Garcetti wide authority to negotiate a deal with Olympic officials to host the 2024 Summer Games.
The event is estimated to cost $4.1 billion, which the mayor has said would be guaranteed against financial overruns by L.A. taxpayers.
The motion authorizes Garcetti and Wesson to sign a legally binding agreement with the U.S. Olympic Committee as part of the city's pursuit of the games. The agreement, called a joinder, states among other things that no further legislative action would be necessary for the city to enter into a contract with the International Olympic Committee two years from now.