Update: Jackson County Executive Frank White has vetoed the proposed stadium sales tax ordinance, calling it “not a good deal” for taxpayers.See our original story below.There’s potential progress on an agreement for both a new Kanas City Royals stadium and major renovations to GEHA Field at Arrowhead Stadium for the Kansas City Chiefs.The Jackson County Sports Complex Authority, which currently serves as the owners of both stadiums at the Truman Sports Complex, approved a 20-page letter of intent on Tuesday.This letter signals that the slow-moving stadium negotiation process may finally be speeding up. The agreement serves as a term sheet between the Chiefs and Royals with Jackson County regarding stadium funding. The deal details what may be in store for the Truman Sports Complex if the plan moves forward. One of the most significant changes, visually at least, would be the demolition of Kauffman Stadium, the current home of the Royals. The Chiefs would then get green space for VIP tailgating and possibly a new concert stage.Arrowhead would also undergo major renovations. The total cost of all those improvements is an estimated $1 billion.The plan also includes another $1 billion for a new ballpark for the Royals at a yet-to-be-announced site.The Jackson County legislature also paved the way for public financing. The key to that money is a plan to put a measure on the April 2 ballot to extend the current 3/8th-cent sales tax that goes toward stadium maintenance and upkeep. The letter of intent included the continuation of a 50-50 split of publicly financed tax dollars for the Royals and Chiefs. The deal also includes currently unspecified private monetary contributions from both teams.However, Jackson County Executive Frank White could still veto that plan. His last chance to veto the deal is today, by 5 p.m.The letter of intent addresses some outstanding from White, who has been accused of slowing down stadium talks in recent months. Both White and the county have expressed a desire to see some direct financial benefit from the respective teams and stadium.Currently, Jackson County covers insurance for the Truman Sports Complex.This new letter of intent would have the teams pick up the bill for insuring their new facilities. The teams, in a joint statement a couple of weeks ago, said they’re okay with that part of the deal.The deal included terms for a new lease agreement with the Chiefs that would last for at least 25 years and 40 years for the Royals.
KANSAS CITY, Mo. —
Update: Jackson County Executive Frank White has vetoed the proposed stadium sales tax ordinance, calling it “not a good deal” for taxpayers.
See our original story below.
There’s potential progress on an agreement for both a new Kanas City Royals stadium and major renovations to GEHA Field at Arrowhead Stadium for the Kansas City Chiefs.
The Jackson County Sports Complex Authority, which currently serves as the owners of both stadiums at the Truman Sports Complex, approved a 20-page letter of intent on Tuesday.
This letter signals that the slow-moving stadium negotiation process may finally be speeding up.
The agreement serves as a term sheet between the Chiefs and Royals with Jackson County regarding stadium funding. The deal details what may be in store for the Truman Sports Complex if the plan moves forward.
One of the most significant changes, visually at least, would be the demolition of Kauffman Stadium, the current home of the Royals. The Chiefs would then get green space for VIP tailgating and possibly a new concert stage.
Arrowhead would also undergo major renovations. The total cost of all those improvements is an estimated $1 billion.
The plan also includes another $1 billion for a new ballpark for the Royals at a yet-to-be-announced site.
The Jackson County legislature also paved the way for public financing. The key to that money is a plan to put a measure on the April 2 ballot to extend the current 3/8th-cent sales tax that goes toward stadium maintenance and upkeep.
The letter of intent included the continuation of a 50-50 split of publicly financed tax dollars for the Royals and Chiefs. The deal also includes currently unspecified private monetary contributions from both teams.
However, Jackson County Executive Frank White could still veto that plan. His last chance to veto the deal is today, by 5 p.m.
The letter of intent addresses some outstanding from White, who has been accused of slowing down stadium talks in recent months. Both White and the county have expressed a desire to see some direct financial benefit from the respective teams and stadium.
Currently, Jackson County covers insurance for the Truman Sports Complex.
This new letter of intent would have the teams pick up the bill for insuring their new facilities.
The teams, in a joint statement a couple of weeks ago, said they’re okay with that part of the deal.
The deal included terms for a new lease agreement with the Chiefs that would last for at least 25 years and 40 years for the Royals.