Kansas City’s new interim economic development leader says the city is trying to avoid a repeat of the financial strain tied to Power & Light as the Royals stadium project heads toward a key public hearing.
Former Councilwoman Andrea Bough stepped in Wednesday as interim president and CEO of the Economic Development Corporation of Kansas City. In her first media availability in the role, she spent nearly 10 minutes answering questions about the stadium plan and the Tax Increment Finance commission review set for Sept. 9.
The comparison to Power & Light came up after City Councilman Johnathan Duncan raised concerns at an Aug. 18 Finance committee meeting about the city putting $600 million into the $1.9 billion stadium project. Duncan called it, “This is the Power & Light on steroids,” and said, “I mentioned this before. $14 million of the general fund goes to the Power & Light because we backed those bonds, and it’s not meeting the expectations, the financial projections that were originally sold to us back when we passed it.”
He also said $165 million has already come out of the city’s general fund to pay off that development. Asked Wednesday whether the Royals project could lead to a similar drain, Bough answered, “I hope not,”
Bough said the city believes it has taken lessons from the Power & Light experience. She pointed to the way the city now evaluates bond debt, saying, “I think we have learned some lessons from the Power & Light. One of those things, you know, to go get in too much of the technical details, but our debt coverage ratio and when we issue bonds, we are making sure as a city now that we have enough revenue to cover the debt service on the bonds.”
She said the city’s finance team has already reviewed the stadium numbers, and that an outside review is part of the process. “We will have a third-party analysis look at our numbers, which is required for a bond issuance,” she said. “We will do everything we can to ensure that we do not have a repeat of dipping into the general fund to that extent to pay the bonds.”
The TIF commission, which Bough does not sit on, is scheduled to meet Wednesday, Sept. 9, at 300 Wyandotte Street around 9:30 a.m. A public hearing on the new Royals stadium is expected at that meeting.
In Other News...
Royals Prospects Are Turning Heads For All The Right Reasons
The Royals farm system keeps drawing notice for the right reasons, and a fresh reminder came with Baseball Americas annual tools poll. A cluster of High-A Quad Cities River Bandits stood out in the voting, with catcher Blake Mitchell and pitcher Kendry Chourio earning multiple mentions for the skills that have made them fixtures on prospect lists, while the overall showing underscored how much talent Kansas City has pushed through one affiliate this season.
Mitchells bat and defensive profile continue to give the Royals plenty to track behind the plate, and Chourios arm has clearly left an impression on evaluators. David Shields was recognized for his control, L.P. Langevin for his work in relief, and the broader theme is hard to miss: Kansas Citys prospect pipeline is starting to produce more than just upside talk, even if the next step for some of these names is still the part everyone around the organization is watching most closely. [Read more 🡒]
Royals Stadium Plan Is Headed For A Decision Kansas City Can't Ignore
Kansas Citys long-running stadium debate is moving into a decisive stretch, with city leaders now bracing for the possibility that voters will get the final say on the Royals proposed ballpark deal. The plan calls for a $600 million city commitment toward a $1.9 billion stadium, and the clock is ticking for the City Council to act by Aug. 31.
With no council meetings scheduled before that deadline, the path of least resistance may be a citywide vote, potentially in April 2025. The projects timeline still points to demolition and groundbreaking in 2027, with the goal of opening the new ballpark by March 2030, but first Kansas City has to decide how, and whether, to push the plan across the finish line. [Read more 🡒]
Royals Wild Card Push Suddenly Has A Reason To Feel Real
The Royals are turning their late-season surge into something more than a hot streak. Kansas City blanked Cleveland 3-0 and picked up its 11th win in 12 games, a run that has pushed the club into a far more interesting spot in the American League Wild Card race than it occupied just a short time ago.
Michael Wacha gave the night its backbone with a dominant start, and the offense finally added breathing room in the ninth when Carter Jensen lifted a two-run homer to stretch the lead. For a team trying to make the calendar matter in September, the challenge now is less about whether this push is real and more about how long it can keep it going. [Read more 🡒]