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By Beth Harris

The Associated Press

LOS ANGELES - Los Angeles already is equipped to stage the 2016 Summer Olympics - only one venue needs to be built - and hold the games within a more compact area than it did as host in 1984, bid organizers said Friday.

Los Angeles is competing with Chicago to be the U.S. Olympic Committee's candidate city for the 2016 Games.

"We can stage these games with almost no construction of permanent facilities," said Barry Sanders, chairman of the Southern California Committee for the Olympic Games. "We can turn our attention to building human spirit, building human achievement and joy - fundamental Olympic visions."

The only new venue to be built would be for shooting at the county fairgrounds in suburban Pomona, Sanders said.

A refurbished Los Angeles Coliseum near downtown would be used for opening and closing ceremonies and for track and field.

Residence halls at the University of California, Los Angeles, on the city's westside would house the athletes' village, while the media and Olympic family would stay at residence halls on the University of Southern California campus near downtown.