A sales tax revenue (STAR) bond proposal introduced to lure the Kansas City Chiefs and Kansas City Royals across the border would not translate to a surefire score for a new stadium if Kansas lawmakers approve it during a future session. State lawmakers this week drew new attention to the polarizing incentive program with a bill meant to increase its potential value specifically for pro sports stadiums involving at least $1 billion in investment. Their last-minute effort came days after Chiefs CEO Clark Hunt raised the prospect of a new stadium and as developers such as Sporting Kansas City co-owner Robb Heineman have conceptually pitched a venue in Kansas City, Kansas. In the abstract, the STAR bond proposal would allow new multibillion-dollar Chiefs and Royals stadiums to be 100% publicly funded through redirection of new sales taxes. For that to happen, however, team and municipal officials first would need to agree to a STAR bond plan of an unprecedented magnitude, including details on how such a project would yield the billions of dollars in annual sales so taxes could pay down that debt.
Source: Kansas City Business Journal
