In April 2009, The Rose Bowl Operating Company unveiled a Rose Bowl Strategic Plan, which addressed the objectives to improve public safety; enhance fan experience; maintain national historic landmark status; develop revenue sources to fund long-term improvements; and enhance facility operations. On October 11, 2010, the Pasadena City Council approved a $152 million financing plan for the major renovation of the stadium. Groundbreaking ceremonies for the first of three phases of the project were held on January 25, 2011. The newly constructed video board was used for the June 25, 2011 CONCACAF Gold Cup Final. The costs increased as the project went on, and by December 2012 were estimated at $194 Million and the project to be completed by 2015. The Rose Bowl and UCLA leases were extended to 2043 and 2044 respectively. The renovations were completed in 2016.