The funny part of all this is that the people who really follow this stuff mistakenly think most people care about KANSAS CITY MILLIONAIRES EARNING TAX BREAKS hand over fist.
Here's a write-up that's desperately trying to make biz as usual captivating and doing a commendable job of describing KCMO looting from schools with the help some of our favorite lawyers and denizens of the local social scene.
Take a peek at the reason Mayor Sly is smiling today and why Cindy Circo could be Kansas City's next mayor:
Helzberg project in Crossroads is Exhibit A for why the TIF process is dysfunctional
Developing . . .
Corruption always stays winning. It's kinda like white privilege. Bet on corruption and privilege to pull you through.
ReplyDeleteOK, so if the project is a worthy one, exactly what should the process be for approving it? This has been before the TIF Commission before and was approved and recommended to the Council. And has been before a Council Committee and approved -- after both taking testimony. Fact is, no one has a complaint about the project itself.
ReplyDeleteBasically, the KCMOSD OK'ed this because it would get $100K/yr in payments in lieu of the taxes "missed" -- plus a chunk of "scholarship" money -- and then had to renege because of political pressure. KCPS parent Jennifer Wolfsie is running for the school board, and this is her chosen issue to generate votes.-- along with supporters of her "slate". They want an issue, and could care less about the merits of the case.
Fact is, few people understand how a TIF works -- and that it NEVER costs any taxing jurisdiction revenue presently generated by the land -- only the additional revenue generated from the new project can be used: The INCREMENT in tax increment financing.
Unless such a project would be built anyway -- and NO ONE thinks this would be -- there is no loss of revenue.
3:47 we have no way of knowing whether any project would be built as long as we keep subsidizing them. Then there is the idea that something should even be built. Will this firm leave if the building is not built? probably not and any new building adds to the supply of buildings thus lowering the rent on existing buildings. This lowers the value resulting in less real estate tax somewhere else. It's not as simple as saying vacant land results in no taxes.
ReplyDelete3:47. You obviously have no idea how the INCREMENT process works. You sound like a typical elected official that has no clue how these programs work.
ReplyDeleteThat it NEVER costs taxing jurisdictions a dollar is a LIE. Do some homework first and quit asking Sly for his cliff notes on tax incentive programs...oh, and educate your fellow elected officials while you're at it.
Another loser Tony that you vociferously opposed.
ReplyDeleteBetter spin up the conspiracy theories for the tin foil hat crowd.
I approve of this tif, it will make the crossroads even better.
ReplyDelete^^^^^Says First Friday frequenter from Olathe.
ReplyDelete