January 13, 2004
K.C. arena still off track
Kansas City Mayor Kay Barnes vowed to build a downtown basketball arena over a year ago, but has been tripped up by the usual problem: how to pay for it. Most recently, a plan to use tax-increment financing stalled when it turned out there won't be enough new taxes to pay for a $200 million arena. Kansas City Star columnist Kevin Collison notes that the arena project is necessary to compete for the NCAA basketball tournament and its $20.5 million in economic impact; if Collison noticed anything odd about spending $200 million to get a tenth that amount in economic activity (not new taxes) every few years, he didn't say.
Posted by Neil deMause
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