- Posted by Drew Epperley
- On May 20, 2009
- 2 Comments
- Kansas City Stadium
Not the most positive news to end the day but it is news nonetheless (also sorry if I am late to getting this, I’m in the middle of a house hunt which is taking most of my free time right now). Developers in Kansas City working on the project that includes a new stadium for the Wizards said that the chances of getting the needed money by 2011 are growing dim.
“I can safely say right now that it would be pretty tough to hit that right now,” said Owen Buckley, president of Lane4Property Group Inc.
Lane4 and Kansas City Wizards owner OnGoal LLC are partners in Three Trails Redevelopment LLC, which has received approvals for $230 million of local tax increment financing and about $50 million in state incentives for the 467-acre project, dubbed The Trails.
However, $6.25 million in state tax credits for the project are conditioned on completion of the 18,500-seat, publicly owned soccer stadium at The Trails and a 23-year lease with the Wizards by the end of 2011.
It doesn’t mean the stadium is off or anything like that but it does sound like the opening of the new facility will be delayed a decent bit until the proper funding is in place. Let’s hope something clears up soon and the ugly “R” word doesn’t appear surrounding this club again.