Los Angeles will bid to host its third Summer Olympics, by bidding for the 2016 Olympics.
The organisers claim that this will be tax neutral.
Mayor Antonio Villaraigosa and Barry Sanders, chairman of the Southern California Committee for the Olympic Games, have confirmed that the United States Olympic Committee will be notified of the city's intention to bid for the Games.
"We're a community built for the Olympic Games. We have world-class sporting venues and we have a history of success".
Other cities considering 2016 bids include Chicago, Rome and Tokyo.