The council's decision approves a Tax Increment Financing (TIF) plan and bond authorization to help fund the $600 million commitment made by the city for the $1.9 billion project.
The Kansas City Council has approved a financing plan for a proposed downtown Kansas City Royals stadium development. Councilmembers voted on Thursday to proceed with a plan designed to pay back an estimated nearly $1.4 billion in debt service.
The approval authorizes a Tax Increment Financing plan and bonds to cover the city's $600 million contribution toward the $1.9 billion project. The committee also recommended rezoning the designated site bounded by Pershing Road, Gillham Road, 27th Street, and Main Street.
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