All articles tagged with #star bonds
Illinois House approves a revised megaproject bill to fund a Chicago Bears stadium in Arlington Heights, directing a portion of developers’ special payments to local and statewide property-tax relief and creating a local review board; the measure heads to the Senate amid concerns and competition from Indiana.
Kansas is investing over $200 million in tax incentives, primarily through STAR bonds, to develop the Mattel Adventure Park in Bonner Springs, which features toy-branded attractions like Barbie and Hot Wheels, aiming to boost local property values and revenue, but raising concerns about the long-term financial impact on the state due to potential project failures and shifting economic conditions.
Kansas is investing in a $540 million Mattel Adventure Park in Bonner Springs, funded largely through STAR bonds, which are loans paid back with future sales tax revenue. The project aims to boost local property values and attract visitors, but raises concerns about the state's future financial commitments and the effectiveness of sales tax incentives amid increasing online shopping. Construction could start in 2027, with opening planned for 2031.
A $112 million redevelopment project in Marion, Illinois, aimed at revitalizing a dying mall and boosting the local economy, faces challenges due to the financial troubles and foreclosure of one of the key developers, Jerry Barrass, which could impact the project's future plans. Despite these issues, local officials and remaining partners continue to push forward with the project, which includes entertainment venues, hotels, and attractions designed to attract tourists and create jobs.
Kansas lawmakers have extended a deadline until December 31, 2025, for the Chiefs and Royals to negotiate stadium funding deals with Kansas, amid ongoing competition with Missouri for the teams' relocation, with incentives covering up to 70% of stadium costs in Kansas.
Kansas lawmakers, including Republican State House Rep. Sean Tarwater and Speaker of the House Dan Hawkins, are making efforts to bring the Kansas City Chiefs to Kansas, leveraging the Professional Sports Franchise STAR Bond Project. This initiative, supported by several lobbyists and former House Speaker Ron Ryckman, aims to provide a permanent home for the Chiefs in Kansas without new taxpayer costs. While Kansas City, Mo. Mayor Quinton Lucas believes the Chiefs will remain at Arrowhead Stadium, the proposal will be discussed in a Special Session focused on tax reform. The Chiefs have not yet commented on the matter.