I have now seen the letter to the membership, it talks about history of both the US Open and LACC's history of hosting LA Opens back in the 30's.
It mentions that the USGA would be renting and controlling the facilities for 2 weeks and returning the facilities to how they were before the event. That means that they would most likely use the South Course for parking as well as 1,2,17,18 for hospitality tents , and that the USGA would pay for all the re-grassing that would be needed, most likely a return to bent grass for the south courses greens as well as some extra dough to put towards the clubhouse renovations. Therefore hosting the championship will not only bring notierity and stature to the newly redone golf course but also pay or help pay for a South Course restoration and upgrades to the clubhouse infrastructure.
It was a front page story in today's LA Times which I would think was leaked by someone at the club to basically make anyone who votes against hosting look like a total selfish prick.