KANSAS CITY, Mo. (AP) — The Missouri Department of Economic Development has approved historic tax credits to help finance the redevelopment of Kemper Arena in Kansas City.

The Kansas City Star reports developer Steve Foutch said Tuesday that state and federal historic tax credits should cover about one-third of the project's estimated $39 million cost.

Kemper Arena was listed on the National Register of Historic Places last September.

The arena in the Kansas City stockyard region has been virtually unused since the Sprint Center opened in 2007.

Foutch's plan is to renovate the arena as a private regional amateur sports and entertainment center for several sports and fitness activities. He says many weekend events are booked starting next summer, with the first event scheduled for July 7-14.

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Information from: The Kansas City Star, http://www.kcstar.com