CHIEFS SIGN NEW LEASE WITH JACKSON COUNTY, TEAM AWAITS APRIL VOTE

Jan 24, 2006, 1:35:15 PM

The Kansas City Chiefs today signed a lease with Jackson County, Missouri officials that will keep the team at the county’s Truman Sports Complex for the next 25 years. The lease was signed in a special ceremony at the Jackson County courthouse in downtown Kansas City. A lease was also agreed to by the Kansas City Royals, the Major League Baseball team that makes its home at Kauffman Stadium, located adjacent to Arrowhead Stadium in the Truman Sports Complex. The signing of the new leases leads the way for the county to put two sales tax issues to finance stadium improvements before Jackson County voters on April 4th of this year.

The new lease was “indeed welcome news for the sports fans of the area as well as the Chiefs organization,” said Lamar Hunt, Founder of the Kansas City Chiefs. “Our family and the entire Chiefs organization are committed to Kansas City and want to say how much we appreciate the ‘can-do’ attitude of the public officials who have helped the project reach this stage.

“Thirty-eight years ago the citizens of Jackson County took the revolutionary step to build the Truman Sports Complex, which includes Arrowhead Stadium and Kauffman Stadium. These stadiums now require modernization and I think it is most appropriate that the two teams have committed to new 25-year leases, and that the public will at the same time have the parallel, but separate opportunity to vote to complete the original project design with the Rolling Roof.”

The Rolling Roof will be one of two ballot measures that county officials are expected to put before voters. One will include a 3/8-cent sales tax increase to raise at least $425 million to pay for the work to the stadiums. A measure to fund the construction of the Rolling Roof that will move between both stadiums to combat inclement weather will be funded by what is known as a “use tax” charged to people in Jackson County who purchase items of $2,000 or more outside of the state. Use taxes are common in counties surrounding Jackson County.

“This Rolling Roof facility, which will be the only one of its type in the world, will provide the opportunity for Kansas City to have a 21st century facility for the enjoyment of all in Mid-America,” Hunt continued. “Most importantly for the sports fans of the area is the opportunity to bring a future Super Bowl to the community and to help secure other mega-events with the assurance of weather protection.”

Late last year, the National Football League voted to extend Kansas City a commitment to host a future Super Bowl contingent on the event being weather-protected. Kansas City’s Super Bowl is slated to fall within a year between 2012 and 2021. The new lease agreement, which will expire in 2031, includes provisions beyond the sales tax including $50 million in state tax credits and contributions totaling $100 million to be made from the Chiefs ($75 million) and the Royals ($25 million). In addition, the teams have agreed to pay for any cost overruns on work done to the respective stadiums.

As a benefit to Jackson County taxpayers, the Chiefs have agreed to a one-dollar surcharge on each ticket sold to games and further intend to waive a five-percent surcharge for parking to Jackson County residents if they purchase season or single-game tickets in advance.

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