We warned about this yesterday morning and last night it became news fact . . .
Mayor Sly wanted all the GO bond ask to fit into one big bill . . . City Council split it into three different issues
Here's a better look at how it breaks down . . .
The doggie issue looks like an easy win but the two other questions will face more scrutiny . . . In fairness, given lackluster voter turnout . . . All of this might be an easy win for City Hall.
Still, there's an opportunity to push back against higher taxes and Question 1 still has yet to define terms and talk about SPECIFIC projects to address.
Developing . . .
Trust Sly and Troy with $800 Million?
ReplyDelete@6:53 AM
ReplyDeleteHell to the naw naw naw....
If a huge percentage of commercial property was not tax abated the tax increase would be much smaller for the individual and small business.
ReplyDeletethis is going to make missouri houses less valuable.
ReplyDeletein the past, potential homebuyers have elected to trade off low-quality services snd schools for a lower-tax area.
once taxes go up, it'll be the worst of all worlds.
this is going to be a hard thing to sell the public right now.
$150 million flood contol?
ReplyDeletequick, let's get our cement company incorporated and lease some trucks and invite some folks to lunch and maye take some others to shady lady to talk business.
^^^^Flood control is a Water Departmebt issue and we are already paying through the nose for that. That should be an easy no for the thinking crowd but alas, Kansas City is home to the regressive retard.
ReplyDeleteGotta keep giving them vestors and developers big tax cuts and abatement's and the cash has to come from somewhere.
ReplyDeleteIf you are willing to pledge the home or building you own as collateral for this loan, then you will vote yes! What the city just did is pledge every piece of property as the collateral for this bond issue. If the city goesbeoke, the bond holders can take the property as payment. The bonds are secured with property TAXES!
ReplyDeleteI wonder if property taxes and assessments downtown will start going up instead of down like they have the past 6 years.
ReplyDeletePeople living in a small 800 Sq foot 100 year old house pay more in property taxes then downtowners in their new ritzy condos and lofts in most cases.
Given the recent report on KCMO's perilous financial condition and its over-extended borrowing, it will be interesting to see how well these bonds do on the open market and what interest rate they require for payback.
ReplyDeleteAnd, as is likely, a fair amount of the money will actually end up being used as operating expenses and to fill other holes in the current accounts budget, just how much of the promised work will actually end up being done.
KC's champagne dreams on a generic beer budget continue.
And it's all unlikely to end well.
how about we repave brush creek by the plaza, just for old time's sake?
ReplyDeleteAnybody know what Moody's or S&P says about KCMO?
ReplyDeleteMoody's was actually pretty complimentary last March--
ReplyDeleteThe Aa2 General Obligation rating reflects strength in the city's significantly large and stable tax base, below average socioeconomic profile, and stable financial performance that is supported by diverse revenue streams and prudent fiscal management practices, and adequate reserve levels. The rating also takes into consideration additional available liquidity the city has in its Capital Improvement Fund as well as the city's high debt profile and pension liability.
Rating Outlook
The outlook is stable reflecting a continued trend of stability in the local economy and the city's financial performance, which is supported by recent changes to funding of pension obligations and prudent fiscal practices which are set out in the city's five year financial plan.
LMAO 9:04
ReplyDeleteI fear KCMO's luck and seeming immunity from economic tremors is going to run out. And probably sooner then later.
ReplyDeleteWrite Trump and say can you have a look at Sly and Troy before we all end out on the curb and panhandling on the Plaza.
ReplyDelete@10:04 - I'm not sure writing to trump will have any effect... After all, he is the self-proclaimed "King of Debt"!
ReplyDeleteBut now I see clearly why he expressed his love for the poorly educated.
Sly and Troys love for the poorly educated is even greater. We'll see if they can execute the bond ripoff as their final act before the house of cards comes tumbling down.
ReplyDeleteVote No... they don't do shit anyway...
ReplyDeleteKC STAYS LOSING BECAUSE OF THE LOSER MAYOR AND OTHER LIBS I GREW UP IN KC MOVED TO MONTANA IN90 came back for the first time last month and everyone I knew had moved out they said terrible gov caused the city to go to shit went down to the plaza and Westport couldn't believe my eyes What the fuck happend everyone said kc is the knew St. Louis WOW
ReplyDelete