The Kansas City Chiefs’ plan to build a new domed stadium on the Kansas side, along with a new training facility and headquarters in Olathe, would be supported by a special incentive package for entertainment and tourism draws. Called STAR bonds, for Kansas Sales Tax and Revenue bonds, this type of incentive involves issuing bond debt to cover part of a project’s price tag that is then paid back over a set period of time using sales tax revenues generated by retail and dining sales within a project’s defined boundaries. State and team officials last month unveiled a deal that would have public dollars account for up to 60% of the cost of a new Chiefs stadium and team facility in Kansas, with the team picking up the other 40%. The STAR bond package shaping up for the Chiefs’ project is different and much larger in size, scope and total projected dollar amount than the typical STAR bond deal. Still, Johnson County has experience with these incentives: there are already three such active STAR bond districts in the county — two in Overland Park and one in the works also in Olathe.
Read more: Johnson County Post
