TKC BREAKING AND EXCLUSIVE NEWS!!! KANSAS CITY SOON TO BORROW MORE TO FIX OLD AND BUSTED INFRASTRUCTURE!!!
There's a ton of great stuff hidden in the current busted Kansas City budget that mainstream media doesn't have time or the manpower to cover.
We've talked about the current budget drama quite a bit so far but here's an item that TOP LEVEL KANSAS CITY INSIDERS have discovered which offers a bleak picture of our cowtown financial future.
DESPERATE FOR CASH . . . CITY HALL WILL SOON ASK KANSAS CITY VOTERS TO APPROVE A CAPITAL IMPROVEMENTS BOND PROGRAM!!!
Expect another emergency ordinance that might arrive for the April election . . .
Furthermore . . .
Think about how Kansas City is bleeding red ink from quite a few projects . . .
- Yesterday we had a great discussion of the P&L District Fail now reaching $20 MILLION annually.
- The water department budget is so out of whack that KCMO needs another $500 MILLION in an emergency move.
- Union Station, Liberty Memorial and a slew of obligations are draining the city of precious resources.
To wit . . .
TKC EXCLUSIVE: KANSAS CITY FINANCE GURUS CLAIM THAT THIS BUSTED BUDGET RISKS KANSAS CITY'S BONDS GOING BACK TO A NEGATIVE OUTLOOK!!!
Remember that some high pressure lobbying (and behind the scenes lawsuit threats according to City Hall Insiders) turned KCMO bond ratings back to a stable outlook from Fitch . . . But since that time the City's financial situation has weakened and this town's crushing debt has grown worse.
Therefore, if City Hall doesn't find cash IN A HURRY . . . This town's bonds get one step closer to junk.
Here's the calm confirmation of this desperate situation hidden in the budget memo:
City Manager Troy Schulte: "I believe that the City Council should seek voter authorization of a capital improvements bond program to ensure that the City has the resources necessary to maintain our infrastructure."
Seems like a friendly reminder, right? It's more like a desperate scrape for cash very much like stoners in a panic sifting through sofa cushions in order to pay the pizza dude at the door.
So, while hipsters and the clueless consumer class are celebrating the toy train streetcar and other dubious achievements during this current tax and spend epoch of local governance . . . The reality is clear: Kansas City is going broke.
Developing . . .
Better title: Kansas City Junk Bond Sale Coming Soon!
ReplyDeleteNo money for the water department until we get an audit.
ReplyDeleteCommon people your stance should be no money till we vote every fucking one of you out of office.
ReplyDeletecut out the toy train and then we might have money for sewer and water pipes without raising rates on senior citizens
ReplyDeleteDidn't we just do a bond deal for the waterboys? Insiders know the facts. 40+ years of deferred maintenance calls for a huge amount of work in the coming years. And much of that work could have been prevented with routine maintenance. Why does this happen? Simple: Nobody goes to a ribbon cutting for a shit line. Ecodev, baby! Show me the money!
ReplyDelete@9:23am is right on the money.
ReplyDeleteOnce the ribbons have been cut, the balloons launched, the bands stopped playing, and the chapagne gone, no one at city hall pays any attention to how projects are actually down, how they turn out, or how they're maintained.
Just wait for the environmental and engineering surprises as Main Street is dug up for the streetcar and watch how "maintenance" money disappears and then shows up to fund the latest fad some out of town con man sells the council.
The streetcars will be up on blocks within two years.
The trolley will fix all KCMO's problems.
ReplyDeleteHow can a real city have so many money issues and so little in accountability? I'd want to see a few heads roll before pumping a cent into anything. Maybe when the city starts looking at its citizens and businesses as something other than a source of revenue there will be a little respect for those who would just like to live.
ReplyDeleteHow much of that is to pay for desk jockeys to sit around all day and surf porn or watch Netflix? What do we expect from a mayor and manager who seem to have doubled the number of employees in their offices
ReplyDeletehow politicians work:
ReplyDeleteOH SORRY TAXPAYERS AND VOTERS WE ONCE AGAIN BROKE OUR PROMISES AND DID OUR JOBS SHITTILY NO PUN INTENDED
OH SORRY TAXPAYERS AND VOTERS WE PROMISED OUR BONDHOLDERS WE WOULD PAY THE INTEREST. GOTTA KEEP THAT ONE, THOUGH, ACTUALLY, OTHERWISE THE MONEY DRIES UP.
why are they allowed to break promises incessantly to us, but when they make a promise to the bondholder it MUST be kept?
audit P&L.
ReplyDeleteThere was a messenger, albeit a poor one who warned everyone about the city's deteriorating position. He was promptly voted out so the party could resume.
ReplyDeleteI like to believe that all actions of government that I see reported in the news is the result of a grand conspiracy. The advantage of believing in conspiracy theories that that it relieves one of having to confront the fact that at all levels of government and in all of our institutions, the policies and decisions that are by its leaders are made by people who are incompetent morons and we are in this current mess as the result of human stupidity and not by some grand design. At least if we are victims of a conspiracy there is at least order and planning that put us in this current mess but with human stupidity we are at the mercy of chaos.
ReplyDeleteSchulte is an incompetent city manager.
ReplyDeleteI believe that even after the engine has sputtered out and died a downhill slope is sometimes enough to keep things rolling for a while longer.
ReplyDeleteThe city isn't accountable for $15,000 why should we give them $500,000?
ReplyDeleteYou dumbfuck rubes gonna vote for the etax next time around?
ReplyDeleteYep, of course you will.
Because you've already proven to be rube dumbfucks.
CK is in big trouble and our worthless bonds are another great reason to move to some place else outside of the area and then maybe get a good view of the disaster.
ReplyDeleteBuy a comfy lawn chair!
The way you make money in KCMO is start a consulting firm, then make friends with insiders at City Hall. Then your bid wins a contract to study something people already can figure out for 1/4th the cost if that.
ReplyDeleteHyperblogal nailed it. We can't trust this KCMO city leadership with $15k how the **FUCK** can we trust them with 500M?! Ain't gonna happen. I give up on this city. Time to move back to JOCO where they know how to run city government. JOCO has great schools, roads, water service and KCMO has absolute shit. Worst in the region and starting to look like Detroit. Hell has a special place for the KCMO city government.
ReplyDelete....the Toy Train will fix it all. I can't wait to ride the Toy Train down to the Negro Leagues and over to Lego Land. Don't worry Crackers, the Toy Train will save the city.
ReplyDeleteNo money for the water department until Troy Schulte is fired.
ReplyDeletehelp....I have fallen and i can't get up......
ReplyDeletePooyie Tang to announce on TKC that he be running for Mayo of CK. Pootie platform: mo free shit...vote Pootie
ReplyDelete