It is being called a cash grabbing ponzi scheme in the tradition of Bernie Madoff and one of worst things to ever happen in Kansas City local government.
Sadly, it's going down without much notice.
Check out Ordinance #090447
It passed through Committee.
And while TKC hears that Council Lady Cindy Circo is a wonderful nail tech . . . The word is that she just doesn't understand what's going on in this instance.
Here's the EXCLUSIVE detail . . .
If the Council passes this action today, what would have been $500k will cost so much more over the long haul . . .
KANSAS CITY IS ACTUALLY TAKING TENS OF MILLIONS FROM THE ECONOMIC DEVELOPMENT CORPORATION (EDC) IN ORDER TO SUPPORT THE PET PROGRAMS OF CITY MANAGER WAYNE CAUTHEN AND THE COUNCIL!!!
Of course the EDC gets a bad rap . . . But the fact of the matter is that this cash will come under the purview of Cauthen and that is NOT A GOOD THING!!!
Even worse . . . Over the objections and questions of Councilman Russ Johnson the so-called "Smart with the Money" Mayor sent this proposal to the much more friendly Planning and Zoning Committee rather than Deb Hermann's Finance and Audit where it would have been more meticulously scrutinized.
More EXCLUSIVE details . . .
THERE IS TALK THAT THIS ORDINANCE MIGHT VIOLATE STATE MISSOURI STATUTES!!!
Which ones?
We'll see. The architects of this scheme are the same people who came up with the Citadel Plaza debacle which definitely skirted the line when it came to interfund borrowing which is also not allowed by The City Charter.
Unfortunately, with the salacious details of "Gloria Squitiro's No Shoe Diaries" occupying so much of the media's attention this cash grab just might go unnoticed.
And yet again Kansas City is robbing Peter to pay Paul . . . Which is pretty much the same old song and dance that has caused our bond credit rating to be downgraded and has led Kansas City toward financial disaster and bankruptcy.
Previously . . .
How much do you wanna bet that Cindy Circo's campaign manager Kim Carlos will make some money on this deal, because she is always lined up at the city trough gorging on contract payments?
ReplyDeleteThe money for Kim Carlos has to come from SOMEWHERE, so why not steal it from the EDC?
Could you post a list of phone/fax numbers of the Council Members so we could express our thoughts about issues like this? Thanks.
ReplyDeletehttp://www.kcmo.org/council.nsf/council/home
ReplyDeleteTony, in the budget, Finance's "development finance" division (the EDC oversight guys who ok'd the Citadel Plaza deals) was eliminated and EDC was given $300,000 to run the oversight function (presumably by "hiring" the city employees who were being "laid off", getting huge severance deals, but would actual transfer to EDC, which is really a city organization) What this ordinance does is move those guys back to the city. They pretend to be an "independent" oversight review group that way. . . and cost a lot more, too!
ReplyDeleteAnd yeah, it gives ass kisser Yates more control over EDC. . .
BTW, state statute puts the oversight function in EDC, not the city. So the taxpayers are paying for something that the developers are supposed to be paying for! Whoever tried to force EDC to do the work (for which they would charge the developers) was actually doing what state law proposed. Personally, I think it sucks that we taxpayers are expected to pick up the tab simply because the developers whined and wouldn't do what the law says they are required to do!
Watching Channel 2 I have learned that at least some of the council puts a lot more weight on phone calls than email. At least one council person has her aide open the emails and keep a tally sheet recording the number of messages "for" and "against". So I wouldn't waste too much time on a brilliant email. Better to call.
ReplyDeleteA bad deal. Call the City.
ReplyDeleteThen people need to call to stop it.
ReplyDeletewhatevs
ReplyDeleteWhy would you lie about what is taking place? Is it because you know kansas City readers won't know the difference?
ReplyDeleteFor the record:The ordinance correctly replaces money taken from the Finance Department during the buget process, because Deb Hermann did not like development finance staff meeting with the taxing jurisdictions.
The taxing jurisdictions lobbied the EDC Executive Committee to not take the money because by law the EDC staff could not perform some of the sensitive tax review functions required.
Let's all trust Terry Riley.
ReplyDeleteIdiot.
You know the idea that staff can approve any development is retarted. The council voted for the citadel. I am fairly certain that if you look back, the tif commission took a powder and sent it to the council without recommendation and the edc has been at the table the entire time on citadel. O, but wait that would resemble the truth, that is something that is apparently not popular here in the world of Tony the Tiger.
ReplyDelete