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Rendering for Royals stadium at Crown Center(Kansas City Royals)<\/p>\nKANSAS CITY, Mo. (KCTV) \u2014 On Wednesday, the Kansas City Royals announced that a new stadium and ballpark district is headed for Crown Center. It is a massive deal that includes public and private funding. <\/p>\n
At Wednesday\u2019s press conference, Royals CEO and Chairman, John Sherman, said the new project is estimated to exceed $3 billion in phase one. He said 2\/3 of the funding will come from the Royals and private investments, and 1\/3 will come from the City of Kansas City and the State of Missouri. <\/p>\n
At least $2 billion will be from the private sector. Kansas City plans to fund $600 million. <\/p>\n
The State is using the Show Me Sports Investment Act that allows a 10% tax credit up to $50 million, and only up to half of the project. Speaker of the House Jon Patterson said the estimated numbers from the state are $15 to $17 million based on the Royals\u2019 2025 tax revenues. <\/p>\n
Though Jackson County isn\u2019t currently set to provide any money, that\u2019s because they haven\u2019t been asked to, according to the county executive. <\/p>\n
Phil LeVota said he\u2019s spent the last few months talking with KC Mayor Quinton Lucas and Governor Mike Kehoe about these steps. <\/p>\n
Rendering for Royals stadium at Crown Center(Kansas City Royals)<\/p>\n
\u201cThis is going to be a city-owned facility, and the city took the lead on the financing with the state coming in with the show me progress funds. And then the team, now with their new partners, Hallmark, stepped up to get the funding available. So Jackson County didn\u2019t have an ownership in it as we do in the sports complex. So there wasn\u2019t an ask for us to be funding any building that we don\u2019t own,\u201d said Jackson County Executive Phil LeVota. <\/p>\n
LeVota said the ownership will be different than the current Jackson County Sports Complex Authority, and he looks forward to collaborating where needed. <\/p>\n
\u201cI\u2019ve told everyone that will listen that the reason I\u2019m here is to collaborate and be unified and to show the public that all of their government is working together,\u201d LeVota said. \u201cAnd if there\u2019s something that there\u2019s a portion that they want to come to Jackson County to have us be a partner in some other portion of this, I will definitely listen, and I will definitely include my legislature in that.\u201d<\/p>\n
He plans to continue his work with the Sports Complex Redevelopment Task Force, which is deciding what to do with the 400 acres where Arrowhead Stadium and Kauffman Stadium currently sit. The first meeting was on Wednesday night. <\/p>\n
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