Monday, March 06, 2017

TKC BREAKING AND EXCLUSIVE NEWS!!! KANSAS CITY INSIDERS FEAR FOUTCH BROS. FINANCIALS FOR KEMPER ARENA RENOVATION DON'T ADD UP!!!



Behind the scenes, there's resistance among City Council to the sale of Kemper Arena for $1 and locals don't know that THE DEAL ISN'T DONE JUST YET.

The main point of contention . . .

A GROWING NUMBER OF CITY COUNCIL MEMBERS DOUBT THE FINANCIALS TOUTED BY DEVELOPERS!!!

The reality . . .

The public/private "youth sports facility" is a long shot and there's skepticism about parents from throughout the metro dragging their rugrats down to the railroad tracks in order to play hoops.



Moreover . . .

"The Planned Industrial Expansion Authority approved a 12-year property tax abatement for the redevelopment project of the arena in the West Bottoms being pursued by Foutch Brothers. The PIEA also authorized up to $24 million in revenue bonds for the project."

"The historic designation is expected to net about $10 million in state and federal historic tax credit financing . . ."

This is all good news except for the fact that a new third level and some very significant decay has overlooked a tragic fact . . .

KANSAS CITY INSIDERS ESTIMATE THAT KEMPER ARENA NEEDS MORE THAN $75-$100 MILLION WORTH OF REPAIR AND IT'S IN MUCH WORSE SHAPE THAN ANYONE REALIZES!!!

As usual, the math for this project looks great on paper but not in the real world . . .

Accordingly . . .

The fear of KCMO clawbacks and contingencies has Council hoping to take another look at the project . . .

A quote on the subject:

"There's so much about this deal that doesn't make sense but in the end, there's just NOT ENOUGH MONEY for youth sports to make it happen. The danger here is that we're going to get stuck halfway through a project with nowhere to go and the City will have to pick up the slack. Already we have a horrible history with our management of this resource and this option is following that same line of thinking."

Translation . . . The effort to kill this deal is still in play as skeptics doubt "youth sports" will save an embattled facility.

Developing . . .

28 Comments:

Anonymous said...

Of course they don't add up. But the KC piggy bank will support it all.

Anonymous said...

Yet ANOTHER "developer" with his nose under the tent so that "we've come this far, so there's no turning back", and who actually doesn't have anywhere near the money to undertake his "project"?
In KCMO?
Shocking?
Want to see it again?
The carnival continues.

Anonymous said...

Such a shame there is such a lack of foresight, innovation and creative thinking when it comes to the West Bottoms in general. With a little thinking that entire area could be revitalized with private dollars instead of having tax payers shell out to unload previous mistakes.

Anonymous said...

Sounds like Sly and the council code for "give my PAC and election campaign more money; more freebie lunches, dinners and special event tickets...then your numbers will add up".

Anonymous said...

omg.

wondered how this was going to work in the first place but left it as having been vetted.

not aware of similar facilities elsewhere.....does anybody else know some?

Anonymous said...

Turn THAT dump into a gun / shooting RANGE !!!!

Super Dave said...

To me what should be of major concern is the city allowing a building to get in such bad shape it takes 75 to 100 million to fix it.

How about the city fixing what they have and stop building new crap.

How many other buildings has the city allowed to get this bad while sucking off money for toy/pet projects the city would still be fine without?

Anonymous said...

11:19 is correct. I do not know of anyone else who has done this. That does not mean it cannot be done, but I don't think anyone can afford this right now. It doesn't mean something won't happen, just not right now.

Anonymous said...

To me what should be of major concern is you just accept everything said here as fact without any evidence whatsoever, Stupor Dave.

A hundred million dollars, huh?

Prove it. One single shred of evidence will do.

Anonymous said...

My TOP ECHELON INSIDERS told me PERSONALLY that Kemper needs over $637,000,000,000,000,000,000,000,000,000,000,000.00 of repairs!

P.S. 000,000,000

Anonymous said...

2:01 Prove it doesn't. Asslicker.

Anonymous said...

There's no proof, that's why.

The burden of proof is on the accuser.

Like "Obama wiretapped my phones." No evidence whatsoever! Nil. Aught. Nada. Naught. Nix. Nought. Zilch. Zip. Zot.

Point proven. Wow!

Anonymous said...

The only thing that adds up in Kansas City is dead people.

Anonymous said...

Oh, you mean like the Russians 'hacking the elections', controlling the weather, or whatever else you think they're doing. :)

Bob said...

"The burden of proof is on the accuser." This isn't a courtroom, and there is no such thing as a burden of proof on internet comment boards. I wouldn't accept the $100M figure as accurate without factual basis, but in absence of same I could not conclude it's wrong. If you know it's wrong, tell us how you know that.

Anonymous said...

^^^^^^That^^^^^^^

Anonymous said...

Because Tony's penchant for making stuff up and posting it as fact is so well-known it's impossible to accept anything as true anymore, his many "insider" predictions having failed come true?

Yeah.

That, I'd say.

Anonymous said...

He's been exposed as a liar so many times anybody else would have put a .45 in his mouth and pulled the trigger.

Anonymous said...

@ 2:01 I'd take what Dave says as fact over anything blown out your ass.

But Foutch, whose firm has completed more than $300 million worth of renovation projects, said he views Kemper differently.

“To rebuilding this structure today would cost hundreds of millions of dollars,” Foutch said during the public hearing.

Anonymous said...

SD makes a good point here about how the city is operated, but you douche bags would rather insult him instead. Grow the hell up and face reality.

Anonymous said...

Douche bags that work for the Shitty on overtime. Job description = read local blogs and lie your ass off when the truth is discussed.

Anonymous said...

2:01 is what you call a cocksucker who wears panties and can't stand those smarter than them. Any bets he is related to Byron and Alonzo, you know, the no job, full of shit losers.

JimBrodi said...

The deal is crap, I won't be surprised when fails. It doesn't take a genis to know that it is falling apart. TKC fits that description perfectly.

BWAHAHAHAHAHAHAHAHA!

Greedo said...

Hate TKC, but he's right about this one. There isn't enough money here to make it work. And I think the if the visitors to this site really hated it so much, they wouldn't keep coming back.

Anonymous said...

Bulldoze it and bring the American Royal BBQ back home.

Anonymous said...

He's been exposed as a liar so many times anybody else would have put a .45 in his mouth and pulled the trigger.

The happy thing about this is that it's never too late.

Nebuchadnezzar KC said...

^^^TKC's biggest fan, lonely and reading late at night. Be careful Tony, there are some real creeps who are obsessed with your blog because of their own failures.

Whereas I only read this blog for THE TITS!

Anonymous said...

WHAT NO PROOF YET?

Aww, too bad.






Also, niggers.