KANSAS CITY, Mo. (AP) — The Kansas City Royals' quest to move to a new downtown ballpark cleared a major hurdle on Wednesday when the Kansas City city council approved a $600 million commitment to help make it happen.
The club announced in April that it planned to partner with Hallmark Cards on a $3 billion project to create a mixed-use development, with the new stadium as the centerpiece.
The city council's decision sets the general structure for how
the city will finance its share of the investment, though there are still several more steps to navigate. The city could approve the creation of a tax increment finance district that would redirect a portion of the tax revenue in the district back into redevelopment in the area.
The Royals have pledged to pay for $760 million of the estimated costs. The club and the city will also try to secure an additional $540 million from the state government.
“This step advances what will be the largest public-private economic development project in Kansas City,“ Royals chairman and CEO John Sherman said in a statement. "It will bring Royals baseball to the center of our city, creating jobs, housing and year-round economic activity, advancing Kansas City’s terrific momentum.”
The goal is to break ground on the $1.9 billion stadium sometime in 2027, with the chance that it could be done in time for the 2030 baseball season.
As part of the agreement, the Royals will sign a 30-year lease to remain at the ballpark and pledge to donate over $50 million to community groups and local initiatives.
Hallmark intends to build a new headquarters in the area, which is connected by a streetcar to the Power & Light District, where the T-Mobile Center serves as its anchor. That part of downtown Kansas City will provide the backdrop beyond the outfield fence.
The city council's approval moves the Royals one step closer to remaining in Kansas City after the NFL's Kansas City Chiefs announced late last year they are going to build a new $3 billion domed stadium across the Missouri River in Kansas City, Kansas that will open in 2031.
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