Financing a new stadium

Discussion about new sports facilities in Kansas City
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WoodDraw
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Financing a new stadium

Post by WoodDraw »

I know this is way premature but I thought it would be good to discuss some ideas on how this could possibly be funded. For the sake of argument, let's set the price at $350 million.

Hotel, rental car, and restaurant taxes are probably all out of the question with Bartle and the Sprint Center using them. A Bi-State type tax wouldn't have much of a chance of passing unless it was only for a small percentage. Glass isn't a big spender so it's unlikely he'll pick up a big part of it. Here's where I'm at:

Naming rights (HR Block? Hallmark?): At least $50 million
Glass: $50 million?

Ideas?
ignatius
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Financing a new stadium

Post by ignatius »

There are too many civic projects going on right now that are stretching thin both taxes and philanthropic help. There are a lot of projects with philanthropic help such as PAC, Union Station, Liberty Memorial, Zoo, Nelson and others. JoCo has some too. Financing the construction is one thing but maintainance drains those dollars too.

We need more corporations with megabucks to aid in additional projects. I just don't see a downtown stadium for 10 more years when existing projects will be self-maintaining. Royals stadium may start to look aged by then too.

In the meantime, visions are important and we need to keep a downtown stadium as a desired vision and come up with a future plan for one.
WoodDraw
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Financing a new stadium

Post by WoodDraw »

ignatius wrote:I just don't see a downtown stadium for 10 more years when existing projects will be self-maintaining. Royals stadium may start to look aged by then too.
Probably true. Hopefully the new P&L District and arena will show sports fans in KC how much better a downtown environment is when compared to the TSC. If KC does get and NHL or NBA team then it will be interesting to see how fans react to that environment compared to what we have now.
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dangerboy
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Financing a new stadium

Post by dangerboy »

I agree with Ignatius. Right now there are just too many other things going on right now that are competing for public and private money. I'm optimistic for Bistate II passing in November. But that might be a good thing. It will force the politicians to spend more time on a better plan, and by then the success of the arena and KC Live might provide more momentum for a downtown baseball stadium.
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Financing a new stadium

Post by KCMax »

Copying St. Louis may not be a bad thing.

Busch Stadium II
Cost: $387 million
Privately owned and operated by the St. Louis Cardinals
$200.5 in privately owned bonds, which team must repay
$90.1 in cash and loans from team owners
$45 million loan from St. Louis county
$9.2 in construction fund interest
$30.4 in state tax credits
$12.3 from MDOT

Cardinals pay $15.9 annually for 22 years to retire the bonds

I think we could pay for a new stadium for $225-$275 (PNC Park I believe cost $240 million). I definitely think Glass could put up the kind of money the Cardinals owners put up, and if he planned something ambitious like St. Louis's "Baseball Entertainment City" complex he would easily make his money back quickly.

If only he seemed more interested in running this ballclub.
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WoodDraw
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Financing a new stadium

Post by WoodDraw »

I just don't think a financing plan like that is realistic with the Royals and David Glass. It'd be great but I would be incredibly shocked if Glass stepped up and payed $200 million for a new stadium. I mean, this is the same guy who is throwing freaking $15 million in with Bi-State. Uh huh..

And I think you've got to set the price at $300+ million with the current proposed locations. You've got to demolish the buildings, improve infrastructure, and whatever else I'm forgetting. Plus, it would be cool to not go the cheapest route for once. Let's build something that looks great and lasts.
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dangerboy
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Financing a new stadium

Post by dangerboy »

Clay County just put Bistate II on the ballot. That's the third of the three required counties (Jackson, Johnson, Clay). Wyandotte already did it. Platte County is still waiting to consider it.

Anyway, Channel 4's report this morning mentioned that the Clay County Commission received some requests to amend the proposal to include money for a downtown baseball stadium. However officials in the other counties seemed to have quickly discouraged them from altering the language at such a late date. I don't think the Kansas counties could even change their ballots now if they wanted to.
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