Kansas City Cash Party Never Stops: City Hall Soon To Take On More P&L District Debt To Pay For Mounting Pension Payouts!!!
The fun fact from otherwise boring City Hall finance propaganda/news reveals that Kansas City is paying dearly to finance the ongoing money losing party @ The P&L District AND the pension debt that's also crushing this town:
Council committee endorses Power & Light District refinancing to help with pension reform
The headline is misleading because there is ABSOLUTELY NO SUCH THING AS PENSION REFORM IN KANSAS CITY and we're really talking about more of a political compromise.
The real story is simple: City Hall is facing increased payments for a pricey party in the P&L district AND the bills for pensions are spiking beyond a level that this town can sustain. Meanwhile, all of those promises of economic development have yet to take hold as debts continue to mount . . . And THIS is how Kansas City slowly turns into Detroit.