I am sure having a bumper there will aerodynamically be better than no bumper, weight will be a reduction for City MPG possibly.
Have you considered mounting sleeves down in the bumper and making the hoop removable. Suppose you're using inch and a half OD tubing for your hoop, you could get some 1/8 wall inch and 3/4 and weld it in the bumper flush with the top and have two pins where you can slide the hoop in and out and pin it.
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