A big debate sparked in Wichita on Wednesday after Kansas legislatures sent a letter to the Kansas City Chiefs trying to convince the team to build a new stadium on the Kansas side of the state line. This comes after Jackson County, Missouri rejected a sales tax extension to help fix up Arrowhead Stadium. Marty Yeager and Jim Farthing are lifelong Chiefs fans, so it’s hard to find something about the team they disagree on, until now. “I think it’s a great idea. It’d be a huge benefit to the state,” said Yeager. “I really think they’re probably better served staying where they are,” said Farthing. They’re talking about a letter Kansas Senate President Ty Masterson and Speaker San Hawkins sent to Chiefs owner Clark Hunt trying to sell him on Kansas, saying the state would help pay for a brand new stadium with STAR Bonds. “I think it would be better if they did it on their own dime. The NFL and all of the owners have plenty of money,” said Farthing. “STAR Bonds are really good as long as they’re administered correctly. STAR Bonds are a great format to build a lot of finance, a lot of construction,” said Yeager. So, what is a STAR Bond? Emporia State University Political Science Professor Michael Smith says it’s important to understand that a STAR Bond isn’t a tax increase, it’s simply a loan. “The idea is then that the tax revenue collected at the site, so when people buy their tickets, and they pay taxes on them, or they buy their merchandise, or they buy a beer or whatever, and they pay taxes on it, those go to pay off the bonds,” said Smith.
Source: KAKE – News
