Soccer Land Owner Would Nearly Double Money In Less Than 2 Years
Tax Payers To Pick Up $16.8 Million Bill

November 3, 2006

The Johnson County Park and Recreation District has agreed to ask taxpayers to pay over $118,300 per acre for 142 acres to build soccer fields. That is 90% more than what the landowner paid for the land less than 18 months ago. The land to be used for the proposed soccer fields [see soccer overview] was purchased for $61,572.42 per acre less than 18 months ago. The total increase in value on the 142 acres is over $8 million on an $8.7 million investment.

The sale price information is in a press release Wayne Flaherty, Homeowners against Soccer Welfare, provided to NeighborhoodNet by Tracy Thomas, former Shawnee City Council Member.

The Bigger, And More Profitable, Picture

The total number of acres purchased last year was 294 acres for $18.13 million as shown in County records:

Click on image to see entire page

The 2 lots, identified above as NF251418-1001 and -2001,
are shown in this image from AIMS
Click here to see placement of soccer fields on this property

That leaves 152 acres to develop or sell. If tax payers agree to buy the soccer fields, that is a major step to turning the entire 294 acres into a Star Bond District, which will then finance the highway interchange at 159th, road improvements, and the Wizards stadium. The Wizards stadium must be included, because it is required to get Star Bonds.

The landowner will not pay a penny for any of this.

But these improvements will increase the value of the property.

For the remaining 152 acres, the landowner could reap an additional $18 million, which is $8.6 million more than paid less than 18 months ago. But with all the new infrastructure put in place by taxpayers, the land is likely to be even more valuable.

Who Is The Landowner?

The above document identifies the purchaser as Waterford Court Condos, LLC at the address of 9401 Santa Fe Drive, Suite 300. Price Brothers Development Company is at the same address in Suite 200. The Kansas City Star in its article Soccer funding source revealed identified Price Brothers Real Estate as being the owners of the land. According to the KC Star, Price Brothers contributed $500,000 to the publicity campaign to convince voters to vote for the Soccer bond and pay for the land.

That $500,000 represents just under 3% of the $16.8 million in property tax Johnson County citizens would pay to the Price Brothers if the Soccer Bond passes. It represents less than 1.5% of the total $34.8 million if Price Brothers sold the remaining 152 acres at the same price.

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