^ Isn't there another new stadium (the Edmund Roski one) going up as well? IIRC, that one is already fully paid for, they just need a team to commit.
It was proposed in competition with Farmer's Field, but it was kinda eclipsed by it, and now I think it's dead in the water.
http://articles.latimes.com/2011/aug/12/sports/la-sp-dwyre-ed-roski-20110813
The idea for the location is not terrible in terms of bringing people from all around (it would be near the junction of LA, Orange, and San Bernardino Counties), but it's not really as appealing an area as downtown LA in terms of having synergy with other downtown businesses and events.