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The original development agreement called for up to $150 million in Kansas STAR bonds, an incentive program that redirects sales taxes to help offset the cost of major projects.
STAR bonds allow cities to help finance major projects aimed toward drawing tourists to Kansas. Under the program, municipalities issue bonds that are later paid off with future sales tax revenues ...
The developers are seeking Kansas STAR bonds — that stands for Sales Tax and Revenue — which are 20-year bonds that are repaid with sales tax revenue generated by the projects. These bonds ...
Under a law passed in June, Kansas state lawmakers will be able to issue 30-year bonds for up to 70% of the estimated cost of a professional sports project like a Royals stadium. Called STAR bonds ...
Roughly $116 million was awarded to Homefield through the state’s STAR bond program, an economic weapon that provides upfront capital to developers for big projects meant to drive Kansas tourism.
STAR bonds are sales tax and revenue bonds issued through a state program meant to be used for tourist attractions that draw new money to Kansas. When STAR bonds projects work as intended, the new ...
The Kansas Department of Commerce, which would ultimately need to approve any STAR bond project, indicated the agency is highly unlikely to grant a 100% bond-financed project.
STAR bonds were used to develop the Kansas Speedway in Wyandotte County, a project generally seen as a model use of the program, and were also used to build Children’s Mercy Park where Sporting ...