Monday, March 17, 2008

Full 3 Trails TIF Plan

Thanks to a poster on bigsoccer, we now have the full TIF plan for the 3 Trails Development (WARNING: it's 60 MBs). The 794 page document outlines the entire plan that is in front of the state. There are 24 pieces to the TIF, the stadium, hotel, tournament fields, and stadium retail will all be done by 2010. The entire project must be completed in 10 years. There are a ton of good numbers in the plan, see this post by dusty144 on bigsoccer for a better break down of some of the numbers.

The entire stadium cost will be only $46 million, which seems a little low to me personally, with over half of it ($25 million) coming from private funds. We also see the reason why there has been no development on the project yet, even though city funding has been approved, and state funding looks to be very good. That reason is the fact that $17 million of the Super TIF (which requires state approval to go into affect) is going to be used for the purchase land and demolition of the current buildings on the site.

Including Wizards tickets and other events at the facility (concerts, high school/college athletics, other sports teams, etc) the revenue per seat at the stadium will be around $345 a year.

Starting on page 421, you have the standard soccer participation levels for KC and all of US Soccer.

Some interesting news, league wide is on page 433, where the plan has each team's payroll for 2007. The surprising news is that KC was FOURTH last season in team payroll. Of course they were over $2 million below third.

LA - $9,179,949
NY - $4, 909,556
Chicago - $4,464,113
KC - $2,626,175
RSL - $2,607,531
TFC - $2,453,208
Houston - $2,439,999
Colorado - $2,374,164
Dallas - $2,285,499
DC - $2,163,103
Columbus - $2,021,398
Chivas - $1,886,076
New England - $1,860,448

On page 497, starts the potential demand of the stadium and youth fields. It talks about the different uses for both, including the Wizards, women's pro soccer, Missouri high school events, concerts, and other things held in the stadium, along with practices for soccer and other sports along with league games held on the youth fields. On page 512, you can see the potential demand of the stadium and the youth soccer fields. Fifty events at the stadium, including the Wizards (20 games at 13,500 attendance), women's pro soccer (8 games at 5,000), concerts (6 at 20,000), International soccer (4 at 15,000), and other events (8 at 5,000) would bring in half a million people to that area a year. The youth fields would bring in even more, with soccer tournaments, camps, leagues, practices, other sports (rugby, ultimate Frisbee, lacrosse, etc) and festivals expected to bring in 750,000 people to that area a year.

Starting on page 671, you can see the layout of the site including some artist rendered pictures. Overall, it's a great read if you have time to read through it, or to even skim different parts of it for some great information.


Enzminger said...

Any word on when demo to the mall/surrounding area is to begin?

Mike said...

It has to wait until the state approves funding because part of the Super/State TIF is for land acquisition and demolition.