This article discusses the financial implications of the delayed development around Riverfront Stadium in Wichita. Costing $85 million, Riverfront Stadium is among the priciest Minor League ballparks, funded by $42.14 million in sales tax and revenue bonds from a 2018 state program for tourist attractions. The initial development phase was set to conclude by July 2024, but construction has been postponed to late summer or early fall of the following year. Delays could mean the city using taxpayer money intended for other purposes to repay the state. Vice Mayor Mike Hoheisel expressed concerns about diverting funds from parks, streets, and public safety. The city’s financial strategy involves STAR bonds, which, when successful, allow cities to finance new attractions without upfront taxpayer costs. However, if these projects don’t self-finance, cities must find alternative funding sources. The article emphasizes the importance of timely development to ensure financial stability and avoid burdening taxpayers.
The Wichita Eagle. “Should Wichitans care when ballpark development starts? If you pay taxes, then yes.” September 03, 2023.
https://www.kansas.com/news/politics-government/article278616494.html
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