Citing the continued economic opportunity at Heartland Park Topeka, the Topeka Chamber today has said it favors increasing the size of the STAR Bonds district to enable the State of Kansas to allocate more state sales tax revenue to an asset which is owned by the City of Topeka.
“We believe,” said Doug Kinsinger, Chamber president & CEO, “that Heartland Park Topeka provides benefits to the City of Topeka taxpayers. Enlarging the STAR Bond district generally north to SW Croix from the Heartland Park facility, will assist in paying down debt that ultimately the City of Topeka is responsible for that otherwise only local tax payers would fund through property taxes.”
The State of Kansas will allocate state sales taxes revenue from a larger area of Topeka to pay down the bonds issued in 2006 for improvements at Heartland Park Topeka. By sending more dollars to the City of Topeka, the City will be able to pay for all obligations owned in relation to Heartland Park Topeka.
Kinsinger said Heartland Park Topeka is a unique asset in our State and it is appropriate our State recognizes the economic opportunity that it generates. The State of Kansas has issued STAR Bonds for the NASCAR track in Wyandotte County and for redeveloping downtown Manhattan. Having the State of Kansas expand their investment in Heartland Park Topeka would be a very good thing for our region.
“It will ultimately save taxpayers in the City of Topeka millions of dollars. Heartland Park Topeka has been a revenue generator for our stores, hotels and restaurants for many years and the City has benefited from the sales taxes generated each during the more than 200 event days annually at Heartland Park,” said Kinsinger.