Almost two decades ago . . . Former Mayor Kay Barnes told Kansas City voters that $300 MILLION+ would build a new arena and not only provide a new pro-team for local hockey and/or B-ball fans but also give us "The missing piece" for local development efforts in addition to a costly entertainment district scheme that still hasn't paid off.
Also, we're still waiting on that pro-team.
Anyhoo . . .
The streetcar was the "missing piece" of transit that Mayor Sly said would complete the downtown renaissance.
Going into Sly's 2nd term . . . The downtown convention hotel became "the missing piece" that would FINALLY finish the development frenzy inside the loop as the rest of the city crumbled.
Now . . .
Local leaders and the developers who fund them are pushing taxpayers to pony up for a stadium.
So far . . . The implication is that, at long last, this 'missing piece' will finally bring about the rebirth of downtown Kansas City that STILL hasn't happened despite 2 decades and BILLIONS worth of taxpayer funded investment.
Here's a peek at one more local discussion and more hype . . .
How can new sports facilities, with price tags often in excess of $1 billion, be paid for? Funds to supplement team equity could come from any number of sources, including property tax abatement, business improvement districts creating a sales tax on concessions, ticket taxes and grants for supportive infrastructure, said Irwin Raij, a partner with O'Melveny & Myers LLP in New York.
"It's a difficult decision for some communities (whether to invest public dollars). That being said, no one wants to lose a team, and that's part of the discussion. ... Unfortunately, that does happen," said Raij, who co-chairs his firm's sports law practice. "Stadiums have unique roles. ... There's an experience there that's hard to define. It's almost a feeling more than anything else."
Read more via www.TonysKansasCity.com link to a paywall site that's actually worth it . . .
As KC stadium chatter swells, experts talk facilities design, funding - Kansas City Business Journal
What form could a new downtown Royals ballpark take, and how might it be paid for? Every new sporting venue is different but can offer lessons where design elements and financing are concerned, an expert panel said Wednesday at Union Station.