Jackson County stadium refinancing would save $31M

Jackson County is moving to refinance 2006 bonds issued to renovate Kauffman and Arrowhead stadiums in Kansas City, with the goal of saving taxpayers over $31 million.

Eight years ago, voters approved the renovations and locked the Royals and Chiefs into 25-year leases. Kansas City also played host to the 2012 Major League Baseball All-Star Game, a promise upheld after renovations were complete, according to The Examiner.

Now, the county is refinancing $351 million in voter-approved bonds – trading in a 4.8 percent interest rate for a rate of 3.1 percent. By the time the bonds are paid off in 2031, the county estimated the refinancing would save $31.47 million.

Read more from The Examiner.