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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 ...
But critics warn the bonds redirect tax revenue toward repayment and they question whether Kansas would truly leave bondholders holding the bag if the project risked default. Past STAR bonds have ...
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.
To finance the projects, Kansas would issue Sales Tax and Revenue, or STAR, bonds that are backed by future anticipated tax revenues from the stadiums and surrounding development.
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 ...
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 ...
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 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.
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