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Updated: 12:37 PM Dec 30, 2004
Overland Park Arena
The city of Overland Park has won conditional approval for the financing of a planned 8,000-seat arena.
Posted: 12:37 PM Dec 30, 2004Reporter: AP |
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The city of Overland Park has won conditional approval for the financing of a planned 8,000-seat arena.
It's one of two mid-size arenas proposed for Johnson County. The city of Olathe received state approval three months ago for $50 million in bonds for a project there. But that project has hit some hurdles.
Overland Park's plans moved forward yesterday when the state commerce secretary approved nearly $50 million in special bonds. The debt would be repaid from sales tax revenue generated by the arena and a neighboring entertainment district.
Developers have also request about $30 million in tax incentives from the city, which would own and operate the arena.
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