OF COURSE it will . . . But the Biz Journal offers fancy financial news verbiage and just a bit of developer spin to present the issue . . .
On the bright side (???) . . . The place is still losing money either way . . .
But through 2022, district revenue available for bond payments has totaled $104 million. The city has paid an average of $10.4 million each year, or at least $167.1 million, since Power & Light’s opening, as its sales, property and earnings taxes pledged toward bond payments have fallen well short of annual obligations.
Any increases in the city’s Power & Light payments from business migration to a Royals district would play into what's described as a common issue with stadium analyses: the conflation of gross and net public benefits.
Translation . . .
The accounting is fuzzy and even our friendly biz dude Jon Stephens hints that they're all fighting over the same pie.
Read more via www.TonysKansasCity.com link . . .
Would a proposed ballpark district supplement or siphon from KC's Power & Light? - Kansas City Business Journal
One of the Royals' preferred sites sits just a half-mile or so from the entrance to the Kansas City Power & Light District. Although business owners there would welcome the additional traffic from 81 home games in a nearby stadium, their feelings about - and the benefits from - a competing entertainment district next door are less clear.
Developing . . .
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