Kansas lawmakers heard an update on a theme park being developed by Mattel, the toy company behind Barbie and Hot Wheels, in Bonner Springs.
The park is working with the city and state to secure Sales Tax and Revenue (STAR) Bonds to help pay for the project.
Mattel Adventure Park Kansas City would be the manufacturer’s second theme park, with a location near Phoenix, Arizona, expected to open later this year .
The theme park in Kansas, which is developed in partnership with Epic Resort Destinations, is slated to have a Hot Wheels-themed roller coaster, Thomas the Tank Engine attractions and a Barbie Beach House-themed retail experience.
“Mattel Adventure Park Kansas City will bring our iconic brands to life with epic roller coasters, family-friendly attractions, an immersive theatre, themed dining, and so much more,” said Josh Silverman, chief franchise officer at Mattel, in a news release.
The 180-acre tourist destination is proposed at the intersection of 118 th Street and State Avenue west of the Kansas Speedway. Mattel said the destination could start construction by the end of the year and open by 2026.
How much is the park asking for?
In April, Bonner Springs approved of a STAR Bond district boundary, which would allow the state to award funds to businesses that will be repaid over time with the sales taxes generated by in-district businesses. Epic Resort Destinations said in addition to the theme park, there will be an RV Park Resort, a Christmas village, a rainforest-themed nature attraction and hotels.
The estimated project cost is $490 million, but no commitments have been made regarding how much will be funded by STAR Bonds. The ordinance approving the district in Bonner Springs didn't “obligate the city to any financial commitments or incentives” at the time.
The developer’s budget documents submitted to Bonner Springs say that up to $386 million of the project costs can be covered with private debt and equity, with the remaining $101 million financed through STAR Bonds. The state would cover most of the STAR Bond costs at $71 million, with Bonner Springs contributing $29 million.
Lawmakers ask if park would overlap with other STAR Bond efforts
Lawmakers ensured that the project would have bonds issued before the STAR Bond program sunsets in 2026. The state could renew the program in the 2025 legislative session.
They also asked whether the proposed STAR Bond districts would overlap with the several other STAR bond-financed projects in the Village West area, which includes the Kansas Speedway, Children’s Mercy Park and Nebraska Furniture Mart.
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Right across the street from the proposed Mattel Park is the American Royal Barbeque grounds , which is also working to finalize a complete project plan before STAR Bonds are issued.
“The districts haven’t been finalized, but the intent is that they don’t overlap,” said Rachel Willis, director of legislative affairs for the Kansas Department of Commerce, told lawmakers.
STAR Bond critiques
The STAR Bond program has its share of detractors in the Statehouse, with the influential conservative organization Americans for Prosperity-Kansas being a key opponent. When Kansas created a bill supercharging STAR Bonds to attract the Kansas City Chiefs or Royals to the state, AFP representatives argued that the program simply moves economic activity to handpicked developments.
The Legislative Division of Post Audit also said the program failed to meet goals to generate out-of-state tourist activity.
“That significantly limits their ability to generate new revenues for the state,” the report said . “Local tourist attractions clearly have value, but legislators will have to consider the extent to which they’re willing to have the state finance these projects through STAR bonds.”
However, the Department of Commerce criticized the report for excluding Village West STAR Bond districts in its review, which have been the program’s biggest success stories. They also said while STAR Bonds are intended to bring in tourists, that the report should’ve put greater emphasis on general and economic welfare.
This article originally appeared on Topeka Capital-Journal: Here's the latest on the anticipated Mattel theme park in Kansas
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