Thursday, September 01, 2016

KANSAS CITY MONEY FIGHT!!!! SHOW-ME GUYS CHALLENGE ECONOMIC DEVELOPMENT CORPORATION!!!



Here's another installment in a thoughtful dispute over TIF cash that's mostly over the head of this blogger and most local voters.

The Show-Me Dudes try and FAIL to make it simple . . .

Show-Me: The EDC Gets It Wrong

More explanation and a money line . . .

"$3 million of the EDC budget is from “the annual admin fee on active/approved TIF projects.” Langenkamp may respond that his email refers to previous years and not the current budget, but the distinction is largely meaningless. Due to the TIF Commission’s dissatisfaction with the quality of financial management by the EDC, the TIF fees now go to City Hall, which assesses a fee for outside bookkeeping and then channels the remaining funds back to the EDC. The City is merely a pass-through; the EDC still gets funds generated from TIF fees. If anything, this makes the process more questionable because now the city administration also gets a cut."

Bottom Line . . . The current Mayoral Administration has championed a budget busting slate of taxpayer funded development and that cash is even HARDER to track thanks to recent legislative tweaking.

You decide . . .

2 Comments:

Anonymous said...

Good. Somebody needs to put an end to this annexed City Hall gravy train. Staffed by people who think they're much more important than they really are. ie. Robert Long

Anonymous said...

Langenkamp is way over his pointed head. This guy will fuck up the EDC beyond repair, if he isn't stopped before hand. He should never have been put in charge of this or anything. The man is an idiot.