T-post Tom
01-17-2009, 01:14 AM
http://www.stjoenews.net/news/2009/jan/17/chiefs-thum-touts-partnership/?local
Chiefs’ Thum touts partnership
Financing remains final hurdle to bring training camp to Missouri Western campus
by Alyson E. Raletz
Saturday, January 17, 2009
Local and team officials on Friday emphasized what the Kansas City Chiefs’ training camp could do for the status of St. Joseph and what St. Joseph needs to do for the Chiefs.
The Chiefs’ interim president, Denny Thum, solidified the team’s commitment to relocating its training camp from River Falls, Wis., to Missouri Western State University at a campus news conference Friday.
“The Chiefs thought this was the right time, the right opportunity to move our training camp back to the state of Missouri,” Mr. Thum said. “Missouri Western State University kept coming back in our minds. I think this is going to be a great relationship.”
The Missouri Development Finance Board in December approved a $25 million tax credit proposal from the Chiefs and the Jackson County Sports Authority to fund parking lot and other infrastructure improvements to Arrowhead Stadium. The credits will leverage an overall investment of $50 million. The Chiefs pledged to donate $10 million from the credits to Missouri Western for a $13.7 million indoor practice facility and promised to relocate its training camp to St. Joseph in 2010 for possibly a decade — as long as Western can raise the remaining funds. The total cost for the project is $15.7 million.
“I do want to stress there is a component yet to be fulfilled,” Lt. Gov. Peter Kinder said to a crowd of about 50. “Folks are going to have to step up.”
Additional signatures were needed from three state department directors to seal the deal. Those came through late last Friday, which made the training camp more of a reality for Western.
“What you will find is we will leave a legacy on this campus,” Mr. Thum said.
The interstate between St. Joseph and Kansas City soon will be a little bit shorter, said Ted Allison, president of the St. Joseph Area Chamber of Commerce, touting the economic and tourism benefits of the camp’s daily visitors, expected to exceed 5,000.
“This is an exciting moment in the university’s history,” Western President Dr. Bob Vartabedian said. “We were worried this would take years.”
But don’t pop the champagne bottles yet, advised Mr. Kinder, the Missouri Development Finance Board chairman. He said the proposal encountered many glitches after the initial approval.
“There were many times in the last four or five weeks (where) it could’ve fallen apart,” he said.
He later declined to elaborate, except to say the “element of uncertainty about the local financing” had put the proposal into question.
The overall cost of the project, $15.7 million, has increased by $2 million since first reported because of state financing fees. The Chiefs are using the tax credits to fund $10 million of the project, while Western is responsible for the remainder. The university will offset the costs partially through student fees, but also has asked the city of St. Joseph to contribute $2.25 million. It’s seeking $1.5 million from Buchanan County.
Neither have committed formally to the project.
“We do have a little money yet to raise in the community,” said Dirck Clark, president of Western’s board of governors. The university needs to raise the funds by June to start construction, he said.
If the city or county offers the funds over a period of time instead of a lump payment, he said the university then will arrange some sort of financing.
Alyson E. Raletz can be reached at alysonraletz@npgco.com.
Chiefs’ Thum touts partnership
Financing remains final hurdle to bring training camp to Missouri Western campus
by Alyson E. Raletz
Saturday, January 17, 2009
Local and team officials on Friday emphasized what the Kansas City Chiefs’ training camp could do for the status of St. Joseph and what St. Joseph needs to do for the Chiefs.
The Chiefs’ interim president, Denny Thum, solidified the team’s commitment to relocating its training camp from River Falls, Wis., to Missouri Western State University at a campus news conference Friday.
“The Chiefs thought this was the right time, the right opportunity to move our training camp back to the state of Missouri,” Mr. Thum said. “Missouri Western State University kept coming back in our minds. I think this is going to be a great relationship.”
The Missouri Development Finance Board in December approved a $25 million tax credit proposal from the Chiefs and the Jackson County Sports Authority to fund parking lot and other infrastructure improvements to Arrowhead Stadium. The credits will leverage an overall investment of $50 million. The Chiefs pledged to donate $10 million from the credits to Missouri Western for a $13.7 million indoor practice facility and promised to relocate its training camp to St. Joseph in 2010 for possibly a decade — as long as Western can raise the remaining funds. The total cost for the project is $15.7 million.
“I do want to stress there is a component yet to be fulfilled,” Lt. Gov. Peter Kinder said to a crowd of about 50. “Folks are going to have to step up.”
Additional signatures were needed from three state department directors to seal the deal. Those came through late last Friday, which made the training camp more of a reality for Western.
“What you will find is we will leave a legacy on this campus,” Mr. Thum said.
The interstate between St. Joseph and Kansas City soon will be a little bit shorter, said Ted Allison, president of the St. Joseph Area Chamber of Commerce, touting the economic and tourism benefits of the camp’s daily visitors, expected to exceed 5,000.
“This is an exciting moment in the university’s history,” Western President Dr. Bob Vartabedian said. “We were worried this would take years.”
But don’t pop the champagne bottles yet, advised Mr. Kinder, the Missouri Development Finance Board chairman. He said the proposal encountered many glitches after the initial approval.
“There were many times in the last four or five weeks (where) it could’ve fallen apart,” he said.
He later declined to elaborate, except to say the “element of uncertainty about the local financing” had put the proposal into question.
The overall cost of the project, $15.7 million, has increased by $2 million since first reported because of state financing fees. The Chiefs are using the tax credits to fund $10 million of the project, while Western is responsible for the remainder. The university will offset the costs partially through student fees, but also has asked the city of St. Joseph to contribute $2.25 million. It’s seeking $1.5 million from Buchanan County.
Neither have committed formally to the project.
“We do have a little money yet to raise in the community,” said Dirck Clark, president of Western’s board of governors. The university needs to raise the funds by June to start construction, he said.
If the city or county offers the funds over a period of time instead of a lump payment, he said the university then will arrange some sort of financing.
Alyson E. Raletz can be reached at alysonraletz@npgco.com.