LOS ANGELES (AP) – Los Angeles will try for its third Summer Olympics.

Organizers announced Wednesday that the city will bid for the 2016 Olympics, pledging to hold the Games at no cost to taxpayers.

The 1984 Olympics in Los Angeles were the first to turn a profit, heavily involving corporate sponsorships in the Games. Los Angeles also hosted the 1932 Olympics, the only U.S. city to hold the Summer Games twice.

Mayor Antonio Villaraigosa and Barry Sanders, chairman of the Southern California Committee for the Olympic Games, said the United States Olympic Committee is being notified of the city’s intention to bid for the Games.

The announcement was made at the Amateur Athletic Foundation – an organization endowed with part of the $232.5 million surplus generated by the 1984 Games.

Villaraigosa said the city is proud of its Olympic history and ready to expand on it.

“We’re a community built for the Olympic Games. We have world-class sporting venues and we have a history of success,” he told a gathering that included former Olympic champions Janet Evans and Rafer Johnson.

Los Angeles is the first U.S. city to announce its intention to pursue the 2016 Games. The USOC will decide in 2007 which American city’s bid will be submitted to the International Olympic Committee. The IOC will select the host city in 2009.

The current USOC board chairman is Peter Ueberroth, who directed the 1984 Los Angeles Olympics. Those Games were deemed a success despite a boycott by Eastern bloc countries.

Los Angeles will be making its 13th bid for the Summer Games, including a failed effort for 2012. New York was chosen as the U.S. candidate for those Olympics, but finished fourth in the IOC voting behind winner London, Paris and Madrid. The 2008 Games will be in Beijing.

Other cities considering 2016 bids include Chicago, Rome and Tokyo.

Sanders said that, despite the success of the previous two Los Angeles Olympics, the city will make its bid for 2016 “distinctive in its approach compared to previous games.”

Los Angeles already has many available sports venues, including the Coliseum used in both previous Olympics, the downtown Staples Center, the soccer fields at the Home Depot Center in suburban Carson and the Arrowhead Pond arena in Anaheim.

The 1996 Games in Atlanta were the last Summer Olympics held in the United States.

AP-ES-09-07-05 1830EDT