on the hook

If the Olympics fail to bring in enough money, the city will be on the hook for the first $270 million and potentially millions more, according to an agreement reached several years ago.

Others contend that retrofits should be considered a cost of doing business, given how owners are on the hook for things like replacing leaky roofs or upgrading old electrical panels.

In just the first three months of the fiscal year, the city is on the hook for more than $47 million to resolve lawsuits and claims for injuries and other incidents on public property.

If LA28 spends too much — or fails to generate enough in corporate sponsorships and other revenue — city and state taxpayers will be on the hook for hundreds of millions.

If the nonprofit is the seller — even if it’s an organization whose work aligns with the goals of Measure ULA — it’s on the hook for the tax.