Los Angeles, CA (Sports Network) - A settlement reached Thursday by the City of Industry and the city of Walnut paves the way for a developer to build an 75,000-seat NFL stadium.

The Industry City Council ratified an agreement to drop a lawsuit challenging the construction of the stadium. The building would be in the City of Industry near Walnut. The city of Walnut challenged a report regarding the environmental impact on the stadium being located in the projected area.

Because of the new pact, Los Angeles, the only major-market city in the United States not to host a National Football League team, could see a return to hosting a team again.

"Given the circumstances this is a good outcome for the City of Walnut that will help us preserve our quiet quality of life even as our immediate region becomes a sports and entertainment hub," said Walnut mayor Mary Su. "We thank former attorney general John Van de Kamp for his fair mediation which achieved a settlement that contains important mitigations and protections for citizens of Walnut."

Walnut officials cited traffic and noise from building the stadium would create an unfavorable situation for its quiet residential community that features over 600 businesses. It was named as one of the top 100 cities for livability in 2009.

The city of Walnut then dropped the lawsuit in exchange for $9 million from the City of Industry and additional finances to mitigate traffic and noise.

"It has always been our interest to address issues of concern as they relate to our neighboring cities," said City of Industry mayor David Perez. "We are extremely pleased that the city of Walnut, the City of Industry and the developer have been able to reach an agreement for this project that will create jobs and hundred of millions of dollars of economic benefit for this region."

The new facility will be located on a 600-acre plot of land secured by Edward P. Roski, Jr, a developer responsible for the construction of Staples Center and also part-owner of the Los Angeles Kings and Lakers. Roski's company, Majestic Realty, Co. will build the stadium into a hillside.

This new stadium is expected to be located roughly 25 miles east of downtown Los Angeles near the intersection of two major highways.

Both the Rams and Raiders departed southern California prior to the 1995 season -- the Rams for St. Louis and the Raiders back to Oakland. The Los Angeles Memorial Coliseum, which opened in 1923, played host to both teams.

The Rams came from Cleveland to LA in 1946 and called the Coliseum home until moving to Anaheim for the 1980 season. The Raiders moved in during their original relocation from Oakland following the 1981 campaign and stayed through 1994.

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I also heard the Chargers will may be moving

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