Tuesday, February 14, 2017

Kansas City Selling Kemper Arena For $1



This insider deal is predicated on the fanciful notion that suburbanites are going to drag their rugrats down to the railroad tracks in order to play hoops . . .

KC Biz Journal: Ordinance proposes sale of Kemper Arena for $1

Deets . . .

"Foutch Brothers LLC is in line to buy Kemper Arena and the 10 acres it sits on — for one dollar. On Wednesday, the Kansas City Council's Planning, Zoning and Economic Development Committee is scheduled to consider the final piece of the city's plan to transfer the 42-year-old arena to a Foutch Brothers partnership planning to transform it into Mosaic Arena, a two-level youth and amateur sports facility."

Developing . . .

11 Comments:

Anonymous said...

Just what the city needs. More sports shit.

Anonymous said...

Boy I missed the auction...I would have offered .88 cents and would have lost. Unsure why it went for such a high price. Wonder if they are putting it on a 20 or 30 year note?

Anonymous said...

CLASSIC KC FUBAR!

Didn't they just finally finish paying off the bonds for Kemper? And now they're giving it away!

It's like a homeowner making their last monthly mortgage payment on a 30-year home loan, and then giving the house away for a buck.

Anonymous said...

More like the poor slob who gets a five year loan on a seven year old car and makes the last years payment with the car in junkyard. The city spent millions upgrading Kemper for a couple of Big Twelve tourneys, then lied to voters saying it would remain viable after the Sprint Center was built. How much revenue did a couple of basketball tourneys bring in compared to the millions wasted on Kemper.

Anonymous said...

So? Hell we gave away Sprint Center for even less.

Anonymous said...

How come none of our esteemed members of the press asked the city for the appraisal it received? Might be interesting.

Anonymous said...

Buy it Tony, you and your negro buddies can live there in spicnog harmony.

Anonymous said...

After all the historic tax credits and other public financial gimmicks have been exhausted and Kemper is no where near ready for use, the building will be dumped right back into the city's lap.
Yet another big big idea by a "developer" with huge dreams and no money.
And the amateurs at 12th and Oak fall for the same game time after time.
Want to see it again?
Hahahahahaha!!

Anonymous said...

City hall Democrats scamming the taxpayers to pay off their rich donors.

Retro ROCKER said...

Back in the day Kemper should have been built next to the sports complex inspendence event center is getting sports enthusiasts and concert goers from Eastern Jackson County

Anonymous said...

So how much do the people who signed off on this sweetheart deal get. Will they win at the boats?