The city will earn $381,900 more in revenue over the three years than it did from Ventura, according to city documents. In addition to the $750,000 LEBA will pay the city, the company will also pay $20,000 to the county’s Department of Public Works for graffiti abatement. But Salcido said the City Council should expect much more from such a valuable piece of property. “The contract with LEBA is essentially a mirror image of the old one,” Salcido said. “Yes, the financial benefits are significantly more, however it’s not enough for 60 acres fronting the 605 \ Freeway.” Salcido said he favored tearing down the arena and starting from scratch. “It’s been a money pit for it’s entire existence,” he said “And it’s never fully benefitted the vast majority of residents. “I don’t personally know anyone who’s gone to an event at that place,” he added. [email protected] (562) 698-0955, Ext. 3029160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Councilman Greg Salcido was the lone dissenter and Councilman David Armenta was absent. LEBA, Inc. had been subcontracted by Ventura for the past five years to book entertainment and currently has some events already scheduled up to a year from now, said spokesman Bob Spencer. The U.S. Army Corps of Engineers owns the property but the city owns the Sports Arena, he said. Recent concern by the Army Corps over the condition of the site led to the termination of a lease with the Fiesta Swap Meet on the Arena grounds. “We tried to come up with a timeframe,” Beilke said. “We will commission a study of the possibilities that we can do with the property. We all agree we have a vision. We just need to decide, do we start from scratch or refurbish it. “That’s why we went with the 3-year lease,” he added. PICO RIVERA – A new 3-year contract for concessionaire services at the Pico Rivera Sports Arena will reportedly double the city’s annual revenue from what the previous vendor could earn, said officials. In a 3-1 vote at this week’s regular meeting, the Council approved a contract that will earn the city $750,000 over three years for LEBA, Inc. to run the 60-acre sports complex. The city’s 15-year contract with Ventura Productions – the previous vendor – will expire May 17. Mayor Ron Beilke and Council members Gracie Gallegos-Smith and Bob Archuleta voted for the new contract, saying the city can earn money while staff researched and initiated plans for the site during the three years.