Wednesday, September 14, 2016

TKC BREAKING AND EXCLUSIVE NEWS!!! KANSAS CITY INSIDERS: BEHIND THE SCENES TAXPAYER SUBSIDIZED DOWNTOWN CONVENTION HOTEL DEAL CRUMBLING!!!



This morning we awake to important Kansas City development news for all of the local movers and shakers who are eager to get down to biz. Sadly, it doesn't look like a proposed vanity project inside the loop is doing much of any business at all.

To wit . . .

KANSAS CITY INSIDERS REVEAL MORE CONCERN ABOUT THE DOWNTOWN CONVENTION HOTEL DEAL THAT'S FALLING APART!!!

Here's the word according to KICK-ASS TKC INSIDER TIPSTERS who obviously know the players and what's happening (and not happening) with this controversial project that continues to unfold . . .

Checkit:

"The revised contract for the convention hotel was taken off the TIF commission agenda tomorrow, at the request of the developer. Public Service Advocates had a meeting with Kerry Tyndall and Randy Landes yesterday, and these two City Hall corporate subsidy officials had even less to say than usual. The Mayor's ####### director henchman also attended the meeting as a political minder, texted notes somewhere, and contributed nothing of substance . . . 

"There is a growing sense of unease that the City is getting in deep, despite the promises that taxpayers would not be footing the bill for Burke Plaza Tower hotel. The (few real) investors and the convention bureau have cowed the Mayor Sly James Administration into revenue guarantees. Troubled hotel indeed, looking not-so-good for taxpayers, and for other downtown hotels facing a monstrous, overly subsidized competitor. Like Power and Light do we have wildly inflated estimates of revenue propped up by public guarantees? For the sake of future generations let's hope not . . ."

Even closer to the source . . . Other insiders believe this hotel has been an unworkable project and basically nothing but a promotional hype fest for quite some time.

Developing . . .

15 Comments:

Anonymous said...

Welcome to the Kansas City crony economy.

JoJo said...

One more bad deal Kansas City is taking from behind.

Remember this when the Mayor says it's time to vote for the next tax.

Anonymous said...

Hey now!

What's $800 million between friends?

Anonymous said...

Without this new hotel where will the 24 gazillion tourists flying in every day to see the new streetcar stay?

Anonymous said...

5:53

We can all talk about it, on "gotomeeting.com".

From our fuckin kitchen tables.

Anonymous said...

A radical notion to Corrupt City officials-----efficient basic city services- water bills that don't drive citizens bankrupt.

Oh, I forgot....citizens are not a priority to the Mayor and Council and city Manager.

Anonymous said...

There's never been any serious private money or much interest on the part of the big hotel chains for this latest fantasy deal cooked up between Burke and Sly.
Just another example of carloads of hype and grandiose announcements followed by desperate backroom maneuvering to find more taxpayer money and figure out a way to keep that information from getting out.
The latter not much of a problem with what passes for local media which is much more committed to being a downtown and city hall cheerleader than in fulfilling their role of informing the public.
And more air hissing out of Sly's hype balloon about a downtown renaissance, big time tech, transit, development, and all the rest.
The waddling ducks are coming home to roost.

Anonymous said...

Is this really a surprise? Are we really shocked to learn that this deal was bad to begin with and getting worse as time goes by?

I'm sure everyone in the city would love to add another building/hotel downtown. But the city would have basically been financing the damn thing. At least half of it would have been paid for by cash, TIF and other revenue streams from the city. What about that seems right?

And had this deal gone through, what would we do about the next hotel chain or corporation that comes knocking looking for a similar deal for a downtown project?

Yet, the city is gearing up to ask us to approve a tax increase to raise $800 MILLION FUCKING DOLLARS for basic infrastructure repairs.

Unbelievable.

Anonymous said...

Why does anyone think expensive hotels can thrive in KCMO, one of the Overland Park Metro's most run-down suburbs?

Anonymous said...

Thank you CFRG!

Anonymous said...

It's really going to called the "Burke Plaza Tower"?

You're kidding, right?

Anonymous said...

CK to guarantee their profits? Thanks Sly!

Anonymous said...

Big Money isn't stupid. They know things could head south at any moment at this juncture and very quickly and unexpectedly.

Anonymous said...

Fed's re-bubbling of commercal real estate only goes so far.

Anonymous said...

Has everybody already forgotten that Mensa Boy's wife is still the executive director of the TIF Commission?