Finance and Audit Committee to Consider PAC Garage
By Laura Spencer
Kansas City, MO – In 2002, the Kansas City Council and former City Manager Bob Collins pledged $47 million for the design and construction of a one thousand-car garage for the Kauffman Center for the Performing Arts.
At a meeting in December, city officials discussed three funding options, including using convention and tourism, general or gambling revenues. The city now raises about $18 million a year from casinos; half of that goes to pay bonds to upgrade the city's streetlights. Those bonds are expected to be paid off in 10 years and city officials say the money could then go to pay bonds for the garage.
Center officials hope the City Council will formalize an agreement early this year and issue bonds by June 2008. The Performing Arts complex is scheduled to be completed in late 2009, with performances in 2010.