Kansas lawmakers are trying to move the Kansas City Chiefs and Kansas City Royals across state lines. The Kansas Conference Committee on Senate and House Commerce met Monday and is considering a bill to create a “major STAR Bond professional sports district.” State lawmakers said it would not result in new taxes and that they would fund the project 100% with STAR bonds, essentially using “tomorrow’s revenue” to fund today’s project . “We’re in a position to make a splash and score points,” Kansas House Rep. Sean Tarwater said. “No Kansan will have to pay additional taxes. We are using tomorrow’s money and revenue generated that will be approved over a 30-year period.” Tarwater said it was about sending a message. “It’s a positive message for the sports community…we’re here, we’re taking this seriously,” he said. Kansas Sen. Renee Erickson says it’s an “incredible opportunity” for Kansas, but members are discussing the potential bill. Tarwater said it would be good to pass this bill to “send that message today.” The bill allows for the approval of two projects with a minimum investment of $1 billion, targeting professional sports teams. They will finance up to two stadium projects with 30,000 seats or more. They plan to finance the projects through STAR bonds, providing teams with 100% financing for up to 30 years. They expect an investment of 2 to 3 billion dollars. The teams will have until June 2025 to decide. The move comes after Jackson County voters rejected Question 1, which would have funded a new baseball stadium in downtown Kansas City, Mo., and help renovate and maintain Arrowhead Stadium. Chiefs owner and CEO Clark Hunt said Saturday the teams are now working alone to secure a future home. “The Chiefs and Royals will work on separate plans to finance their new stadiums,” he said. “I really think at this point it makes sense for us both to work independently. There’s currently nothing stopping us from coming back and doing something together. » Hunt said the Chiefs are also exploring options outside of renovating their current home at One Arrowhead Drive. “The team will begin looking at options beyond renovating Arrowhead Stadium. » Hunt said Saturday that Kansas City Mayor Quinton Lucas has had conversations with Royals owner John Sherman about the team’s future. It’s unclear whether the city spoke with Jackson County Executive Frank White in a meeting. earlier this month, he was not in contact with either franchise.
Kansas lawmakers are trying to move the Kansas City Chiefs and Kansas City Royals across state lines.
The Kansas Conference Committee on Senate and House Commerce met Monday and is considering a bill to create a “major STAR Bond professional sports district.”
State lawmakers said it would not result in new taxes and that they would fund the project 100% with STAR bonds, essentially using “tomorrow’s revenue” to fund today’s project .
“We’re in a position to make a splash and score,” Kansas House Rep. Sean Tarwater said. “No Kansan will have to pay additional taxes. We are using tomorrow’s money and the revenue generated that will be approved over a 30-year period.”
Tarwater said it was about sending a message.
“It’s a positive message for the sports community…we’re here, we’re taking this seriously,” he said.
Kansas Sen. Renee Erickson says it’s an “incredible opportunity” for Kansas, but members are discussing the potential bill.
Tarwater said it would be nice to pass the measure to “send that message today.”
The bill allows for the approval of two projects with a minimum investment of $1 billion, targeting professional sports teams.
They will finance up to two stadium projects with 30,000 seats or more.
They plan to finance the projects through STAR bonds, providing teams with 100% financing for up to 30 years.
They expect an investment of 2 to 3 billion dollars.
The teams will have until June 2025 to decide.
This content is imported from Twitter. You may be able to find the same content in another format, or you may be able to find more information, at their website.
The move comes after Jackson County voters rejected Question 1, which would have funded a new baseball stadium in downtown Kansas City, Mo., and help renovate and maintain Arrowhead Stadium.
Chiefs owner and CEO Clark Hunt said Saturday the teams are now working alone to secure a future home.
“The Chiefs and Royals will work on separate plans to finance their new stadiums,” he said. “I really think at this point it makes sense for us both to work independently. There’s currently nothing stopping us from coming back and doing something together. »
Hunt said the Chiefs are also exploring options other than renovating their current home at One Arrowhead Drive.
“The team is going to start looking at options beyond renovating Arrowhead Stadium,” Hunt said Saturday.
Kansas City Mayor Quinton Lucas, in the aftermath of the election, had conversations with Royals owner John Sherman about the team’s future. It’s unclear if the city has spoken with the chiefs.
Jackson County Executive Frank White said in a meeting earlier this month that he was not in contact with either franchise.
News Source : www.kmbc.com
Gn sports
