Will New Royals Stadium Inevitably Bankrupt Kansas City???

This quote from longtime local newsman Dave Helling offers an important economic snapshot of a historically bad deal in progress . . .  

"It’s a bet City Hall can find $40 million or $50 million each year for 30 years to pay back the money it has borrowed for the stadium, without hurting other city services.

"It’s a bet that enough people will spend enough money at enough games to provide that money.

"If not, the city’s taxpayers will be on the hook, no matter what you’re told. The city’s first dollars will always go to paying back the bonds — otherwise, Kansas City would be unable to borrow at a reasonable rate.

"And always remember: The tax revenue from the new stadium will, in part, simply replace revenue lost when the Truman Sports Complex closes. That means the general fund is paying for the ballpark. "

Read more via www.TonysKansasCity.com link . . .

KCS: Kansas City goes for broke