KC's Unforgivable Cordish Double Down!!!
It's almost impossible to contemplate how Kansas City's Mayor and City Council continue to play developer given that time has shown most of their decisions have turned out HORRIBLY.
Just a quick review . . .
Kansas City officials defend the $8 million upfront incentive Cordish is getting to build a new apartment complex downtown.
City officials hope new downtown development helps Power & Light's financial situation
Now remember that getting in bed with Cordish costs Kansas City Taxpayers around $12 million every year.
Clearly, this decision isn't based on any data, doesn't provide much protection for local taxpayers and it's basically a multi-million dollar endeavor based on a hunch.
TKC REAL TALK . . .
THIS IS A CLEAR SIGN TO KANSAS CITY VOTERS THAT THE MAYOR AND CITY COUNCIL HAVE LOST TOUCH WITH ANY KIND OF NEIGHBORHOOD CONCERN AND THEY'RE ONLY WORKING AT THE BEHEST OF CORPORATIONS AND THE LOCAL ELITE!!! THIS MOVE IS NOTHING LESS THAN A BETRAYAL OF KANSAS CITY RESIDENTS!!!
If voters wanted to give up on Mayor Sly and this Council . . . This decision provides the PERFECT reason.
Seriously, I had a bit of hope things weren't THIS BAD in Kansas City. Turns out I was wrong, Mayor Sly and City Council now seemed to determined to work on nothing more than press events, corporate handouts and pet projects while smiling and politely ignoring local neighborhoods.
DEVELOPING . . .
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15 Comments:
The triumph of hope over experience.
Ok, so it's a betrayal of the local citizens. What the fuck are you going to do about it?? That's just what I thought, NOTHING!
Seems reasonable. Nobody bitches when JoCo pays 450 million to move 400 jobs 10 miles. But when the city incentivizes urban projects on actual blight and unused parking lots, suburbanite TKC readers cry foul.
How much did the city just spend on the stop light interchange on 169 highway so suburban northlanders wouldn't have to spend an extra 30 seconds stuck in "traffic"?
Good, downtown is the fastest growing neighborhood in KC, after decades of being ignored. And the rentals are 98% full.
This is what tax-breaks are for. Increasing density in the urban core.
VOTE NO on August 7...Send them a message!!!
Did you see Yael's editorial in favor of this?
T, any form of government is a corporate subterfuge. This goes all the way back to the Magna Carta (yes, that 13th century document that was supposedly the precursor to democracy) and down to the local municipality. GOVERnMENt is not here to address the concerns of its citizens. Mercantilism rules the land and water. Get a grasp of legal language and your blinders will fall off. Hell, even Ned Beatty told us the truth during his monologue in the movie Network.
And when downtown is nice and dense and there isn't any money to pay for police because it's all be given away for TIFs and other incentives, if someone is breaking into your apartment, just call your bond attorney.
Good luck!
Just wait till the city gets the bill for this one. Millions every year. KC should be ashamed. This is the best reason to move to JoCo.
I had such higher hopes for Sly.
Just to get you all thinking here, I have a question: If you don't like this proposal, what would you propose that might better begin to reduce the yearly $12-15 million city payment? Look I HATE Cordish too, but this is $9 million once, and if it helps take $1 million off the debt payment for the next 20 years, we are better off by a minimum of $11 million at the end of it all...Please discuss.
If this is such a good deal and will be 98% occupied, why aren't its proponents willing to build it themselves???
6:10 duh Why buy the cow when you can get the milk for free. Same concept, someone is screwing someone and not paying a dime for the pleasure.
Another KC Ripoff
Another Cordish Ponzi scheme. Throw another ball up in the air while all the others crash. In ten years P&L is gonna look like Bannister Mall.
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