Page 406 of 471
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 12:48 pm
by KCPowercat
DColeKC wrote: ↑Tue Mar 19, 2024 8:37 am
shinatoo wrote: ↑Tue Mar 19, 2024 8:22 am
DColeKC wrote: ↑Mon Mar 18, 2024 6:17 pm
I mean not really right? First off the tax being voted on isn’t exclusive to Jackson county residents. It’s a sales tax on anything bought in JaCo by anyone. The city will probably issue municipal bonds
that shouldn’t be paid for by the tax payers.
Then who pays for those bonds?
To clarify. No new taxes. Ideally revenue and property tax income pays for this and avoids hitting the general fund.
Edit nm best me to it
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 1:09 pm
by aknowledgeableperson
DColeKC wrote: ↑Tue Mar 19, 2024 8:37 am
[
To clarify. No new taxes. Ideally revenue and property tax income pays for this and avoids hitting the general fund.
In order to issue bonds, either revenue or GO, the city has to conduct a vote. That is unless the citizens have approved by prior vote the authority to issue bonds that haven't been issue at this time. Of course maybe the Port Authority can be utilized for the bonds. Those would be revenue bonds with a source of revenue that has to be identified for bond payments.
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 1:10 pm
by aknowledgeableperson
aknowledgeableperson wrote: ↑Tue Mar 19, 2024 1:09 pm
DColeKC wrote: ↑Tue Mar 19, 2024 8:37 am
[
To clarify. No new taxes. Ideally revenue and property tax income pays for this and avoids hitting the general fund.
In order to issue bonds, either revenue or GO, the city has to conduct a vote. That is unless the citizens have approved by prior vote the authority to issue bonds that haven't been issue at this time. Of course maybe the Port Authority can be utilized for the bonds. Those would be revenue bonds with a source of revenue that has to be identified for bond payments.
And BTW property taxes go into the general fund. And if somehow the City guarantees payment of the bonds those funds woulod also come from the general fund much like for the P&L subsidy.
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 1:23 pm
by KCPowercat
Q on the topic being vague on purpose but does not rule out a need for a vote
https://twitter.com/QuintonLucasKC/stat ... 15288?s=19
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 2:55 pm
by Highlander
So what's the deal on the funding. Early on, I understood that the extension of the sales tax would be sufficient to fund a new baseball stadium. Is it because the Chiefs are now involved and wanting their cut of the sales tax extension that additional funds are now necessary? That part is kind of confusing but that would make sense. The addition of the Chiefs makes the initial vote a more urgent issue for Kansas City but also a more complicated problem.
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 3:47 pm
by KCPowercat
It wasn't the addition of the chiefs. That vote of that tax was always going to be split. This specifically is to help the royals actually build a whole new stadium in a whole new place. I assume city ask will be around infrastructure stuff
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 5:19 pm
by beautyfromashes
Some type of tIF for the non-stadium portion and likely huge ticket fees/district sales tax? No one does seat licenses anymore, do they?
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 5:43 pm
by GRID
I'm sure they will super tif the stadium development. Basically Missouri's version of STAR bonds. It's how the P&L District was funded.
Redirects EVERY bit of revenue collected from the area back to the development, that includes state taxes and KCMO's etax.
Re: Downtown Baseball Stadium
Posted: Tue Mar 19, 2024 6:28 pm
by aknowledgeableperson
GRID wrote: ↑Tue Mar 19, 2024 5:43 pm
I'm sure they will super tif the stadium development. Basically Missouri's version of STAR bonds. It's how the P&L District was funded.
Redirects EVERY bit of revenue collected from the area back to the development, that includes state taxes and KCMO's etax.
State taxes? County taxes? And let's not forget the city is subsidizing the bonds with general fund revenues. So the question would be how much funds are expected via this method.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 2:18 pm
by bspecht
Some CBA details coming out.
https://twitter.com/AlexGold/status/1770528743108268140
https://twitter.com/bobfescoe/status/17 ... 6643084356
Combined the Royals and Chiefs have pledged to give back $266 million dollars to Jackson County w a yes vote. The Royals at $140 mil is the largest CBA in MLB
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 2:36 pm
by KCPowercat
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 3:01 pm
by beautyfromashes
The CBA is like a person robbing a bank of gold and then giving a bar to the security guard on the way out to look the other way.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 3:35 pm
by Rusty Irish
Had to laugh hard at the Chiefs mentioning the environment and efforts to reduce carbon emissions. You're literally adding parking to an area with no transit and 20k spaces already. This shit is doomed.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:16 pm
by DColeKC
KCPowercat wrote: ↑Wed Mar 20, 2024 2:36 pm
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
People have unreasonably high expectations. Maybe they’ve agreed to terms but each sides lawyers are converting it into a legally binding agreement? Maybe they’ve agreed to the total dollar figure but need to decide on allocation totals per specific section.
The largest CBA in MLB is skipped over for WHerEs ThE DOCuMeNt!
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:18 pm
by DColeKC
beautyfromashes wrote: ↑Wed Mar 20, 2024 3:01 pm
The CBA is like a person robbing a bank of gold and then giving a bar to the security guard on the way out to look the other way.
Exactly. But like only if the bank agreed to being robbed because in the long run it’s best for its shareholders and will lead to more profits.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:23 pm
by KCPowercat
DColeKC wrote: ↑Wed Mar 20, 2024 4:16 pm
KCPowercat wrote: ↑Wed Mar 20, 2024 2:36 pm
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
People have unreasonably high expectations. Maybe they’ve agreed to terms but each sides lawyers are converting it into a legally binding agreement? Maybe they’ve agreed to the total dollar figure but need to decide on allocation totals per specific section.
The largest CBA in MLB is skipped over for WHerEs ThE DOCuMeNt!
You don't see a theme here? this is nothing but air at this point just like the "we're spending $1.3B, trust us". You have an extremely low bar for what people should just roll over and accept when voting to tax themselves. It's just leading to more no votes.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:27 pm
by beautyfromashes
KCPowercat wrote: ↑Wed Mar 20, 2024 4:23 pm
You don't see a theme here? this is nothing but air at this point just like the "we're spending $1.3B, trust us". You have an extremely low bar for what people should just roll over and accept when voting to tax themselves. It's just leading to more no votes.
Like I said several pages back, humility and facts are where you win an election in Kansas City. They are lacking in both. Take the citizens for granted or show greed and overask and you will lose everytime.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:27 pm
by Cratedigger
DColeKC wrote: ↑Wed Mar 20, 2024 4:16 pm
KCPowercat wrote: ↑Wed Mar 20, 2024 2:36 pm
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
People have unreasonably high expectations. Maybe they’ve agreed to terms but each sides lawyers are converting it into a legally binding agreement? Maybe they’ve agreed to the total dollar figure but need to decide on allocation totals per specific section.
The largest CBA in MLB is skipped over for WHerEs ThE DOCuMeNt!
I think there would have been more goodwill if this had been handled differently.
Or more proactively
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:32 pm
by DColeKC
KCPowercat wrote: ↑Wed Mar 20, 2024 4:23 pm
DColeKC wrote: ↑Wed Mar 20, 2024 4:16 pm
KCPowercat wrote: ↑Wed Mar 20, 2024 2:36 pm
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
People have unreasonably high expectations. Maybe they’ve agreed to terms but each sides lawyers are converting it into a legally binding agreement? Maybe they’ve agreed to the total dollar figure but need to decide on allocation totals per specific section.
The largest CBA in MLB is skipped over for WHerEs ThE DOCuMeNt!
You don't see a theme here? this is nothing but air at this point just like the "we're spending $1.3B, trust us". You have an extremely low bar for what people should just roll over and accept when voting to tax themselves. It's just leading to more no votes.
Maybe the reason you haven’t got your document is because they are sick of hearing “there is nothing but air”. Announcing you’ve reached an agreement isn’t the same thing as having a final executed, legally binding agreement.
You’re right though. When it comes to a 3/8th cent SALES TAX, my bar is very…very low. I like the fact that non-residents have to share the burden.
As for as how much they’ll spend on the adjacent property, it would be incredibly dumb to sign anything committing them to a certain dollar amount. That should be a very complex agreement with a ton of variables, benchmarks etc.
Re: Downtown Baseball Stadium
Posted: Wed Mar 20, 2024 4:33 pm
by DColeKC
Cratedigger wrote: ↑Wed Mar 20, 2024 4:27 pm
DColeKC wrote: ↑Wed Mar 20, 2024 4:16 pm
KCPowercat wrote: ↑Wed Mar 20, 2024 2:36 pm
They announce they finalized the CBA but don't release a document. JFC. These guys are not making it easy on themselves.
People have unreasonably high expectations. Maybe they’ve agreed to terms but each sides lawyers are converting it into a legally binding agreement? Maybe they’ve agreed to the total dollar figure but need to decide on allocation totals per specific section.
The largest CBA in MLB is skipped over for WHerEs ThE DOCuMeNt!
I think there would have been more goodwill if this had been handled differently.
Or more proactively
I don’t disagree but I also know there was so much more happening and that happened. Will we ever get all the tea? I don’t know.