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Kansas Commerce and Chiefs team lay out term sheet, Star Bonds plan and local benefit commitments
Summary
Department of Commerce and Kansas City Chiefs representatives briefed a legislative committee on a term sheet that uses Kansas Star Bonds and local pledges to finance a proposed stadium and surrounding development; presenters said the deal avoids state general‑fund dollars, projects roughly $4 billion in construction and estimates 4,000 permanent jobs.
Rachel Willis of the Department of Commerce and representatives of the Kansas City Chiefs laid out a term sheet and financing plan before the Legislature’s Commerce committee during a public briefing.
Willis said the administration and Commerce negotiated the term sheet to meet specific fiscal guardrails: keep Star Bond financing under a 70% threshold, avoid dipping into base or state general‑fund revenue, promote high‑quality mixed‑use development around the stadium, and secure a growing annual community impact fund. "It expanded the Starbond's functionalities and allowed us to begin to really negotiate," Willis said as she summarized the document and noted the full term sheet is available online.
Court Maxwell, representing the Chiefs, described the deal as the state’s largest economic development project and emphasized expected job and revenue impacts. "$4,000,000,000 of construction means 20,000 construction jobs and careers," Maxwell said, adding that early studies…
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