Kemper Arena redevelopment earns historic tax credits; construction to begin soon

The $39 million redevelopment of the former Kemper Arena into a amateur sports complex that’s expected to draw a half million out-of-town visitors to Kansas City each year has cleared its last financial hurdle.

Developer Steve Foutch expects to begin work within two weeks on his Mosaic Arena development after being notified it’s been granted $9 million in historic tax credits from the state of Missouri.

Those credits, combined with federal historic credits, make up more than one-third of the project’s financing.

Construction is expected to begin as soon as the city hands over title to the arena, which opened in 1973 but has been mostly vacant since the Sprint Center opened in 2007.

The Mosaic Arena is expected to be open for business by next July when the Heartland Futsal National Tournament is scheduled to be held there.

Read more: KCUR, Kansas City Business Journal

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