The Wall Street Journal TAKE DOWN of Kansas City's atrocious P&L District financing is still resonating through this town.
Cruel economic reality has made it harder to believe current promises from politicos regarding the Downtown Toy Train or other eco-devo pipe dreams. The Wall Street Journal fact checking is so bad for business that it has sparked this town's propaganda machine into action.
Check it:
Philip Strnad, General Manager of The Hilton President Hotel recently wrote the WSJ with this PATHETIC BIT OF SHILLING FOR THE P&L DISTRICT . . .
"If the focus of the article was solely on public financing, it seems careless not to note that the TIF in question only captures a small percent of the increased taxes generated by the development. The city tax base has increased by about $20 million in annual dollars as a result of the complex.
In the complex, the Hilton President Hotel has been a huge success, proving the public and private sectors can work together in today's economic environment. The complex also includes the world-class Sprint Center, one of the most successful arenas in the world based on sales."
To wit . . .
IT'S TIME TO FACT CHECK THIS GLORIFIED BELL HOP AND SO MUCH PROPAGANDA IN DEFENSE OF THE P&L DISTRICT IN RESPONSE TO THE DEVASTATING REALITY REVEALING THAT THE PROJECT IS A MONEY WASTING HOT MESS!!!
1. "The city tax base has increased by about $20 million in annual dollars as a result of the complex." According to whom??????? I guess one set of fake financial numbers is as good as the next but Cordish has excellent PR people and this bit spin isn't even worthy of their time.
2. The Sprint Center Success? Seriously?!?!? I like Nickelback just as much as the next d-bag but if the concerts were so great then why don't they support the P&L District right across the street? Also, the high praise of industry mags dependent on AEG adverts isn't really much of an endorsement.
3. YES, THE MASSAGE PARLORS, HAUNTED HOUSES, TUXEDO STORE, WIG SHOP AND SURFACE PARKING LOTS WOULD BE BETTER THAN KANSAS CITY LOSING $12 MILLION A YEAR FOR AN OLD AND BUSTED BAR ZONE THAT'S GETTING MORE OUT OF DATE EVERY DAY!!! The party is quickly moving some place else in this town . . . It always does . . . And the only thing KC has held onto is the check.
What's worst of all . . .
Kansas City politicos are regularly asking the public to believe such disingenuous garbage that doesn't stand up to even a cursory glance . . . The Downtown Toy Train isn't going generate BILLIONS (giggle) and the money losing P&L District is just a precursor of the outdated "tin cup urbanism" philosophy that is back in vogue at City Hall thanks to so many of Mayor Sly's friends looking to push their own pet projects.
DEVELOPING . . .
An increase of 20 million in taxes but coming up 12 million short in money to cover costs. First grade math still says EPIC FAIL.
ReplyDeleteI swear sometimes I wonder whats worse a lawyer or an accountant.
So now breaking even in business is winning? Dipshit. I wonder how much Brookside, Plaza and Westport bring into the city? How much is invested in those areas?
ReplyDeleteTotally agree, the crackheads and abandoned buildings that used to be there were so much better.
ReplyDeleteTotally agree, the crackheads and abandoned buildings that used to be there were so much better.
ReplyDeleteP&L District is more than just the bar area known as KC LIVE, which is doing well. The part not living up to its projections is the retail sector where the clothing stores and restaurants are around KC LIVE, which have seen several different businesses come and go.
ReplyDeleteAlcohol sales are alive and well.
By the way, this story also doesn't factor in all the new residents that have resulted from the addition of Sprint Center, P&L, etc.
Also led to Crossroads growth, without it couldn't have happened.
Yep, once we have a downtown drinking area all the cities problems are solved. Prosperity and peace reign. Just a couple more TIFs and global warming will be solved.
ReplyDeletePaging Mr. Herman, you have a telephone call at the front desk.
ReplyDeleteCordish wrote that and had the President GM attach his name to it.
ReplyDeleteThat is exactly right.
ReplyDeleteDowntown is better with the district built than it was before it was built.
ReplyDelete8:50 is right. This is a huge net gain to the city financially and it keeps young professionals and others in a city that they can be proud of. If you Tony uses the "says who" argument and then provides no facts himself. Who says it isnt kicking off $20m. Also, if it is truly breaking even from a city revenue standpoint that is a win for the whole area.
ReplyDeleteI am sure those fleeing KC for Johnson County are happy to know young professional are proud of their city. Except these are the same young professionals that will live in JOCO in 10 years.
ReplyDeleteThis was an obviously self-serving suck-up letter.
ReplyDeleteFor those who support give-it-away Kay's policies should ask the obvious question: If developers won't put their own money into a project, why should taxpayers take the plunge?
3:22 PM - The City budget says the district eats up $12 million.
ReplyDeleteWhere does the $20 million figure come from?
We all know it's Cordish.
At least a massage parlor would make money that could be taxed. At least you would have something down there rubbing the public in the right manner.
ReplyDeleteBring back the mob, real jazz, juke joints, illegal booze, and hookers, then maybe KC will be on the national scene again, with money flowing in.
ReplyDeleteAmen 6:17!!!
ReplyDeleteGet back to its roots!
This pile of crap did not lead to Crossroads growth.
ReplyDeleteNo matter how successful it ever becomes, it sends revenue ***out of KC and into Baltimore, MD***.
Get it through your heads - we are being ROBBED by Cordish. Plain and simple.
J. W. Helkenberg
This Strnad guy is an ass! Met him..what an idiot
ReplyDelete