In Topeka last week, an attorney representing the Kansas City Chiefs, Korb Maxwell, told Kansas lawmakers that STAR bonds to finance a new Chiefs stadium could be paid off in half the time.”If you look at that region and you look back at its historic growth rates and you consider this region should grow faster because of all that economic activity that we’re putting into it, that’s how I make my projection that this has the ability to and should pay off in under 15 years,” Maxwell said.The STAR bond plan will collect incremental state sales tax dollars from a STAR bond district around the new Chiefs developments planned for Wyandotte and Johnson counties. The state has allotted 30 years to pay off the bonds.KMBC talked to two local economists on Tuesday about the possibility of paying off the bonds in half the expected time.”I think 30 years is more realistic,” said Chris Keuhl, a Kansas economist and the Managing Director of Armada Corporate Intelligence. “I think that that’s a deadline that can be met. Fifteen , everything’s going to have to fall in place the way we want it to, and it might, but it might not.”Keuhl said a 15-year timeline to pay off the STAR bonds isn’t impossible, but it would require many factors going very well, such as continued success on the field for the Chiefs and attracting many out-of-region visitors. Something that may not be realistic, economists said.”Every city that has relied on bonds for its stadiums they have their ups and downs,” Keuhl said. “They have years when you get a lot of attention, then you have years when you don’t.”When discussing the levels of outside visitors needed, Keuhl referenced Allegiant Stadium in Las Vegas.”You have a stadium like Raiders Stadium in Vegas, which is not as worried because Vegas is a visitor city,” Keuhl said. “People are in there all the time. Kansas City is not Vegas.”Local Kansas economist Michael Austin, the founder of Knowledge and Decisions Economic Consulting, added that to pay the STAR bonds off early, things might have to be done that would make people uncomfortable.”That’s because you either draw a STAR bond district that is so big that it encompasses an entire county, which means it siphons off tax revenue from Walmarts and gas stations, places that have nothing to do with football,” Austin said. “Or you can set a baseline that is so far back enough in time that today’s normal sales could suddenly be counted as new.”As of late January, the official dimensions for the STAR bond district have not been publicly announced.However, a map floated by Kansas in December does show what Austin references – a district that includes all of Wyandotte County and a large portion of Johnson County. The potential dimensions far exceed the actual outline of the new Chiefs’ developments.”Either way, it shows you that there’s a cost if you’re going to pay off this bond,” Austin said. “In some way, shape, or form, it’s going to get paid off by the rest of the economy quietly picking up the tab.”The main channel discussed for paying off the STAR bonds has been the state incremental sales tax dollars from the STAR Bond district. In addition, the Kansas Department of Commerce is currently working with Wyandotte County and the city of Olathe to commit a portion of local incremental sales tax dollars from new developments.In Topeka last Wednesday, at least one lawmaker learned for the first time that a Community Improvement District would be used to help pay off the STAR bonds.When asked about a community improvement district, or CID, Maxwell told lawmakers it would be a “user fee” on purchases made at the new Chiefs developments in Kansas.”All of those revenues that we’re able to generate from a CID, all of those are to be used to go into the STAR bond process and pay down the STAR bonds faster so all of the revenues go back to the jurisdictions,” Maxwell said to lawmakers last Wednesday.Keuhl said an additional fee on products bought in the new Chiefs developments could deter locals from spending money there.”Usually, they don’t do that because it becomes kind of a disincentive to be in that area,” said Keuhl, talking about a CID user fee. “People, if they’re going to be paying extra taxes, are like, ‘Well, I’m just not going to shop there.'”The exact figures of the CID are not public.

WYANDOTTE COUNTY, Kan. —

In Topeka last week, an attorney representing the Kansas City Chiefs, Korb Maxwell, told Kansas lawmakers that STAR bonds to finance a new Chiefs stadium could be paid off in half the time.

“If you look at that region and you look back at its historic growth rates and you consider this region should grow faster because of all that economic activity that we’re putting into it, that’s how I make my projection that this has the ability to and should pay off in under 15 years,” Maxwell said.

The STAR bond plan will collect incremental state sales tax dollars from a STAR bond district around the new Chiefs developments planned for Wyandotte and Johnson counties. The state has allotted 30 years to pay off the bonds.

KMBC talked to two local economists on Tuesday about the possibility of paying off the bonds in half the expected time.

“I think 30 years is more realistic,” said Chris Keuhl, a Kansas economist and the Managing Director of Armada Corporate Intelligence. “I think that that’s a deadline that can be met. Fifteen [years], everything’s going to have to fall in place the way we want it to, and it might, but it might not.”

Keuhl said a 15-year timeline to pay off the STAR bonds isn’t impossible, but it would require many factors going very well, such as continued success on the field for the Chiefs and attracting many out-of-region visitors.

Something that may not be realistic, economists said.

“Every city that has relied on bonds for its stadiums they have their ups and downs,” Keuhl said. “They have years when you get a lot of attention, then you have years when you don’t.”

When discussing the levels of outside visitors needed, Keuhl referenced Allegiant Stadium in Las Vegas.

“You have a stadium like Raiders Stadium in Vegas, which is not as worried because Vegas is a visitor city,” Keuhl said. “People are in there all the time. Kansas City is not Vegas.”

Local Kansas economist Michael Austin, the founder of Knowledge and Decisions Economic Consulting, added that to pay the STAR bonds off early, things might have to be done that would make people uncomfortable.

“That’s because you either draw a STAR bond district that is so big that it encompasses an entire county, which means it siphons off tax revenue from Walmarts and gas stations, places that have nothing to do with football,” Austin said. “Or you can set a baseline that is so far back enough in time that today’s normal sales could suddenly be counted as new.”

As of late January, the official dimensions for the STAR bond district have not been publicly announced.

However, a map floated by Kansas in December does show what Austin references – a district that includes all of Wyandotte County and a large portion of Johnson County.

The potential dimensions far exceed the actual outline of the new Chiefs’ developments.

“Either way, it shows you that there’s a cost if you’re going to pay off this bond,” Austin said. “In some way, shape, or form, it’s going to get paid off by the rest of the economy quietly picking up the tab.”

The main channel discussed for paying off the STAR bonds has been the state incremental sales tax dollars from the STAR Bond district.

In addition, the Kansas Department of Commerce is currently working with Wyandotte County and the city of Olathe to commit a portion of local incremental sales tax dollars from new developments.

In Topeka last Wednesday, at least one lawmaker learned for the first time that a Community Improvement District would be used to help pay off the STAR bonds.

When asked about a community improvement district, or CID, Maxwell told lawmakers it would be a “user fee” on purchases made at the new Chiefs developments in Kansas.

“All of those revenues that we’re able to generate from a CID, all of those are to be used to go into the STAR bond process and pay down the STAR bonds faster so all of the revenues go back to the jurisdictions,” Maxwell said to lawmakers last Wednesday.

Keuhl said an additional fee on products bought in the new Chiefs developments could deter locals from spending money there.

“Usually, they don’t do that because it becomes kind of a disincentive to be in that area,” said Keuhl, talking about a CID user fee. “People, if they’re going to be paying extra taxes, are like, ‘Well, I’m just not going to shop there.'”

The exact figures of the CID are not public.