Kansas City’s Thursday vote could advance new Royals stadium plan. What to know

Kansas City officials are advancing a plan to kickstart negotiations and potentially issue up to $600 million in bonds to help finance a new $1.9 billion Royals stadium near Crown Center. While officials say tax revenue from a stadium district would pay off the bonds, the city could tap other funds to pay off the bonds if the project underperforms.

FULL STORY: $600M Royals bonds could pull from KC’s budget. Officials say that’s not the plan

Here are key takeaways:

• The deal: The City Council is expected to vote Thursday on whether to move negotiations forward. The Royals have not fully committed to the city’s proposal for a ballpark and entertainment district in the Washington Square Park area.

• How it would be paid: Officials say bonds would be repaid mainly by redirecting sales taxes and other economic activity revenue generated by the stadium and surrounding area back into the project.

• The risk: The bonds would be backed by any of the city’s “legally available” revenue sources, meaning other funds could cover shortfalls. “Absolutely not without risk, certainly,” Assistant City Manager Tammy Queen said.

• A cautionary comparison: Councilmember Johnathan Duncan pointed to the Power & Light District, where tax revenues have not kept pace with projections, leaving the city to cover millions in debt costs year over year.

• No public vote required: The proposal is a development incentive plan, not a new tax, so it would not customarily require a public vote. In 2024, Jackson County voters rejected a sales tax that would have helped pay for a Royals stadium in the Crossroads.

• Timeline: The city envisions a four-year construction period, with bonds and a stadium lease lasting 30 years.

The summary points above were compiled with the help of AI tools and edited by journalists. The full story in the link at top was reported, written and edited entirely by journalists.