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Fri October 16, 2009
Kansas Offers $230 Million In Incentives For Soccer And Office Park
Kansas City, MO – A new Wizards soccer stadium and Cerner Corporation office park is closer to becoming reality with an offer from the Kansas Commerce Secretary. It adds up to nearly $230 million in incentives.
Five weeks ago the Unified Government of Wyandotte County asked for $155 million in help from the STAR Bond program. The offer yesterday is ten million dollars short of that but includes $85 million in cash incentives and state tax credits.
If the deal is accepted, project developers are likely to proceed past the September 9th memorandum of understanding to build.
The Wizards owners and Cerner have the next move.
The site is in the Village West district near Kansas Speedway. The project would include an amateur sports complex near a new Wizards stadium and Cerner's 600 thousand square feet of offices.
When the local government agreed to negotiate the project, Mayor Joe Reardon said, "For sustained construction for a 5 year period, to ongoing economic vitality that will occur because of those that will be employed, it's going to be something that benefits not just Wyandotte County and Kansas City Kansas but this region for the long haul."
The Village West complex is already turning out $40 million in annual sales taxes, according to the Kansas CIty Star, taxes making a return on the STAR Bond arranged a decade ago for its development.