In a crowded hearing last week, Kansas lawmakers drilled a lawyer for the Kansas City Chiefs on the deal to bring the NFL team across the state line. Republicans and Democrats are forming rare alliances on both sides of the issue.
A Kansas City Chiefs attorney told legislators Wednesday that projections show STAR bonds financing the team’s stadium deal will be paid off 10 to 15 years earlier than the expected 30-year term, upping economic benefits for the state.
Moving the Chiefs to Kansas will spur economic development, but the complexity and lack of details about the deal make it difficult to determine what taxpayers will ultimately pay.
The news on Monday that the Kansas City football team is moving across the state line drew excitement from Kansas public officials and disappointment from Missouri’s.
The Kansas City football team will relocate to Wyandotte County, Kansas, after lawmakers offered a major tax incentives package that could cover up to 70% of construction costs for a new stadium.
Kansas legislators will meet Monday to take a final step toward luring the KC football team across the state line, floating bonds worth hundreds of millions so the team can build a domed stadium and an entertainment district.
