TKC EXCLUSIVE FOLLOWUP!!! MIKE BURKE MISSING FROM KANSAS CITY LAWSUIT STORY OVER FAILED DEVELOPMENT!!!
Let me be forthright. A lot of Kansas City hit pieces that I see don't interest me that much . . . Strictly financial deals going sour just aren't sexy enough to captivate the interest of the public.
Still . . . KICKASS TKC TIPSTERS are far more persistent and detail orientated.
To wit, we've got some blanks to fill in with Star reporting.
Let's start it this way. Here's a quick note that sparked my interest regarding a recent story about Kansas City getting sued:
"The developer who put the Prospect North deal together was Kurt Degenhardt. Kurt's lawyer on the deal (who represented him in front of the TIF Commission) was Mike Burke."
That Degenhardt reference isn't exactly correct . . . Here's a story regarding his involvement:
Renaissance site attracts renewed interest
Also, this showed up in my comments and The Star comments on this one and it gets directly to the point that's being pitched on this story:
"Mike Burke is vice president of a law firm that represented the developer the Prospect North project that received more than $26 million in city funds that were backed by bonds. Those bonds were supposed to be repaid with “new” tax revenue generated by the project, as part of Tax-Increment Financing, or TIF. But the project was a complete bust. It brings in zilch. And now the city has to repay those bonds for 20 years at a little more than a million per."
To be fair, other Tipsters and pundits point out that City Council Lady at the time Deb Hermann voted for it . . . But again, everybody knows that Burke is a big money lawyer and grown ups understand the conflicts. The question here is simple:
Will voters hold Mike Burke accountable for a biz deal gone bad that he played a (big) part in?
Of course, I'd like it if the voting public would hold politicos accountable for their decisions . . . However, what I've seen is that so many elections are decided by branding, special interest groups and personal bias. I could hope for voters to be better but I doubt it.
werd
ReplyDeleteMaybe a TKC blogger (dirtbag) would be willing to invest in a TIF project with public private partnership.Maybe taxpayers should have an option to invest in such a sure thing.
ReplyDeleteTheir is no such thing as a failed project for development attorneys, whether they work in house for the TIF or are outside consultants or if they represent the developer. In all cases, they get paid their exorbitant hourly fees regardless of whether the project soars or goes belly up. So they couldn't give a rat's ass. Someone needs to do a tally of the amount of legal fees the EDC's agencies pay. I think, in many cases, the lawyers, who actually guide the proceedings, create "legal" obstacles in order to bill more hours. Don't believe me? Just attend a few of their board meetings and you will see the unjustified trust and dependence the appointed boards have on the attorneys. Mike Burke was but one of these parasites.
ReplyDeleteHe hasn't convinced me that he didn't know about the Port Authority/Richards-Gebaur/Sessions deal. Looks like everything he touches turns to shit. Should he even be considered a viable Mayor candidate?
ReplyDeleteBurke is the only person who took home a paycheck from this deal, a really nice one. AND this TIF started way back - before Hermann's time. It was actually on Ed Ford's watch that it started.
ReplyDeleteKing Hershey has a lot of lawyers and a lot of lawyers were on that project, they all got paid. This is reaching by other candidates.
ReplyDeleteDeb Hermann's Corruption and Poor Judgement cost KC taxpayers $31 million and an multi-million dollar lawsuit on Prospect North TIF project in Northland
ReplyDelete----------------------------------------------------------------------
Developer sues KC over project’s failure
http://www.kansascity.com/2010/12/21/2536253/developer-sues-kc-over-projects.html
WHAT DEB HERMANN VOTED FOR
Ord.041296
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http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=cifQrAsuZDzBZ6TmDt%2bES6RTj6aOBxT6ifWPtHeV5NYPCi6A%2bGSm7iHaHyz6JxdE
Bond issue
AL-3402-897141-B Prospect North 2,335,393.00
Res. 040760
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http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=tBJw2aNbf3vmoxf9HxhPmdZzTDrMQkJ2sm1AUO2mgDLnBwEqSkWbwM%2bjlZe3nXRF
Approving the finance plan for the Bartle Hall Expansion Project, the Municipal Tow Lot Project, the Prospect North Project and a refunding project and approving the issuance by the Kansas City Municipal Assistance Corporation of its Leasehold Revenue Bonds in a principal amount not to exceed $200,000,000.00 to finance the costs of such projects.
Res.040508
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Authorizing the development of financing by the Kansas City Municipal Assistance Corporation for issuance of one or more series of its refunding and improvement revenue bonds in an approximate principal amount not to exceed $150 million to refinance KCMAC Series 1995A (H. Roe Bartle Convention Center Project) Leasehold Revenue Bonds; provide capital funding for the expansion of Bartle Hall; to pay for improvements to the new City Tow Lot; to finance certain public improvements for the Prospect North Tax Increment Financing Plan and further authorizing the City to enter into certain documents related to the sale; and to take certain actions in connection therewith.
http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=UsfD07JheMGRoPf4zQjwfbiAof2c8IQTkHFW5Aq8QITpqk8tn1SjJkhT%2bjpFoECD
(the Prospect North Project) and (ii) issue its leasehold revenue bonds in one or more series in a principal amount not to exceed $4,000,000.00 to provide funds to pay the costs of the Prospect North Project, all in accordance with and pursuant to the Act; and
Ord. 040230
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Estimating revenue in the amount of $98,767.96 in the KCMAC Leasehold Revenue Capital Improvement. Series 2001; appropriating it to the various accounts of the KCMAC Leasehold Revenue Capital Improvement, Series 2001B for the completion of public improvements in the Prospect North Development Area; and designating requisitioning authority.
http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=64ean1g8okhLBEQBF8FIcKnzusx9fNTkg8uZRk%2boHV0T9wLjoW7XHI7LwqFHUnix
04-380-064-7106-T Maplewoods Parkway Prospect North $97,000.00
04-389-064-7107-T Maplewoods Parkway-Prospect N.B2 1,767.96
Gloria shut your fucking big ass mouth. BITCH
ReplyDeleteLest it be lost . . . I think 7:36 had it right. The project started before Deb was on the council. She may have voted (as often is required) to continue fulfilling the City's obligations on the project -- but stopping a TIF once it starts is a difficult process. It invites lawsuits and doesn't necessarily save the City money because it has already spent a lot in sunk costs. Here, there wasn't a legal basis for terminating the project until it was already dead.
ReplyDeleteWhat does Burke think about spam?
ReplyDeleteThere have been over a hundred TIF projects since it was concieved by Kay Barnes. The first one being a Briarcliffe Residential development where Mayor Barnes, AKA, Mother of TIF, wound up being a property owner. (Are you surprised?). It would be interesting to see who the lawyers representing the developers have been and who the inhouse attorneys have been and how much the legal fees were. The inhouse legal fees should be a matter of public record while the developers legal fees would be harder to extract, but all legal fees were passed on as development costs. If Sessions was able to bill $500,000 in just 10 months, how much has Burke earned over the many years while he was with the PA? Another interesting statistic would be which candidates have these development attorneys supported over the years? Who has the time and resources to expose this? (Code for, FBI get off your asses and investigate for God's sake before the paper shreading begins!)
ReplyDeletePlease, the call for the feds is the oldest political ploy in the book. This is just old political rumor mill stuff that insiders use to scare one another.
ReplyDelete8:20 are you one of those insiders? No, this time, it is the people calling for the feds to step in.
ReplyDeleteWow, The city is 30yrs behind on sewer and other infrastructure repairs. Bloggers get ready to pucker. You dont like TIF's get ready for higher bills and fees.
ReplyDeleteNorth of the river is brand new. What are you talking about? The northland doesnt need any city assistence for development!
ReplyDeleteWTF? Brand new? My mother is 85 and grew up north of the river. Crestview, Briarcliff, and many more areas are well over 50 years old and have old, crumbling sewers.
ReplyDeleteThe Star article says the project was approved in 2000 -- two years before Deb Hermann was on the council.
ReplyDeleteCheck your facts before trying to blame everything on a candidate.
Deb Hermann approved the $30 million bond issue for the project. Check the ordinances yourself
ReplyDeleteOf course . . . the project had already been approved. What, vote against the financing and open the city to a breach of contract case? One they would have lost?
ReplyDeleteAt what point should the City have stopped following through on its legally-required commitments?
And why paint her as the mastermind? Clearly, she was not on the council at the time it started.
Oh, I get it . . . blind devotion to some other candidate. Excuse me, as a voter I prefer a little bit of logic and reasoning, and you have demonstrated none.
Jesus, this town is corrupt.
ReplyDeleteAnother reason to Vote NO to the E-Tax. City Hall is throwing away our Tax dollars.
ReplyDelete8:10 has a good point. Whenever anyone criticized Mayor Kay for handing out TIF, she'd say, "You just don't get it." It looks like we'll be "getting it" for years to come.
ReplyDeleteEd Ford and Jim Rowland voted for the first and original cooperative agreement putting this train wreck in motion. The 2004 votes were to amend that agreement and throw more money (and legal fees) at it.
ReplyDeleteOrdinance 011272 was passed before Hermann or Funkhouser were on Council.
http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=FTvW6TVe6ViRD8hpGYEwQEY5r5UausWxRBNd2yakgbaVk8VvX%2buQ8gFgFC0RCI%2bN
This was after Resolution 000312 sponsored by Ford directed City policy to foot the bill for the mess.
This was supported by Ed Ford, Jim Rowland, Chuck Eddy who are all running again.
Quit posting crap from tipsters who have skin in the game.
http://cityclerk.kcmo.org/liveweb/Documents/Document.aspx?q=IqI2xIWYT5HaFk2R7Xiknd%2bIO2P2GAXFhySghxRmBuagtgfyWsyDNpzeQp%2fE8jdg