American Royal complex at Village West
Posted: Thu Sep 06, 2018 7:17 pm
Price tag for new American Royal complex in KCK jumps to $200M
https://tinyurl.com/y78fw66yThe American Royal's new home in Kansas City, Kan., has a slightly higher price tag, with the project's total cost now estimated at $200 million, up from $160 million when it was first proposed.
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The planned complex will occupy about 112 acres northwest of the Kansas Speedway. It includes 300,000 square feet of exhibition space, an arena with 5,000 to 8,000 seats and educational exhibits on agriculture. It also will host 2,500 cattle stalls and 1,000 equine stalls.
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Originally, the American Royal had set an $80 million fundraising goal to meet half of the cost for the proposed facility. It also planned to seek $80 million in sales tax revenue, or STAR, bonds to cover the remaining half of the project. Kansas uses STAR bonds to provide cash upfront for entertainment or tourism projects and are repaid with sales tax revenue over time.
Tetrick did not provide a specific number for the total amount raised but seemed optimistic about fundraising for the new complex. The American Royal has a powerful ally in Cliff Illig, the Cerner Corp. co-founder who is leading the fundraising effort.
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