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The 11-page "community impact partnership agreement" commits at least $55 million to Kansas City over 30 years — approximately 9 cents back for every dollar the city is investing. Here’s what the public gets and how it compares to other deals.
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Sports economists looking at the $600 million deal between the Royals and the Kansas City Council aren’t very impressed. The quickly-passed measure leaves many unanswered questions about where the public funds will come from, how much risk Kansas City will take on, and if the economic benefits will actually pan out.
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The Kansas City Council voted 11-2 to commit $600 million to the Royals for a new ballpark. Here’s a look at the political and financial math behind the deal.
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After the Kansas City Council approved $600 million in funding for a new Crown Center ballpark on Thursday, Councilmember Crispin Rea called the deal a major accomplishment for the city. It will hold the Royals to $55 million over 30 years for community improvements, but some community groups say that's not enough — and want a public vote.
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Public funds from city and state sources would contribute 60% of the cost for the Crown Center stadium, possibly through tax-exempt bonds. The Royals will have "no obligation to repay or otherwise support payment of” those bonds, leaving the city to cover any shortfalls.
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After several hours of debate and testimony, Kansas City Council's finance committee approved two ordinances that dedicate $600 million in city funding and rezone land for a Crown Center ballpark. Critics remain furious the cost to taxpayers won't get a public vote.
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Kansas City could approve a deal with the Royals within the next two weeks. But the public still doesn’t know where the $600 million will come from or whether the city was successful in negotiating community benefits.
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Kansas City officials delay Royals stadium decision, while giving out little info about funding planA city council committee pushed back discussions on bonds and lease agreements for a downtown Royals stadium. Critics say that still isn’t enough time to learn about the financing deal, and have turned in thousands of signatures to force a public vote.
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The Kansas City Plan Commission unanimously approved the rezoning in an Aug. 5 meeting, making way for a $3 billion Royals ballpark district. Planning officials said the zoning request will be the first step in the redevelopment process.
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A community engagement meeting Monday descended into shouting as the Kansas City Royals seek city approval on their rezoning plans. The stadium would require some changes to nearby bike lanes and roads.
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These offbeat Kansas City museums and attractions offer interactive experiences for adults and families to explore.
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Projects like the Royals’ proposed ballpark at Crown Center and the Current’s riverfront stadium expansion could receive additional city and state funding through the MODESA program.