Upon the reelection of Mayor Sly James in a record-breaking low-turnout election . . . There seems to be no stopping his Downtown development focused agenda.
Today's example . . .
KC BIZ JOURNAL: Board OKs nearly $139M in TIF for convention hotel
Deets:
"The Tax Increment Financing Commission of Kansas City board voted 8-2 for the TIF levels KC Hotel Developers LLC requested for the 800-room hotel, which remains on track for a late 2018 opening . . .
The proposed hotel and incentives are projected to create net 30-year losses for the library and schools . . . Argued for the vote to be delayed to allow more discussion of the plan's impacts. Although the city and hotel developers have been negotiating the deal for three years . . . TIF board members received copies of a cost-benefit analysis associated with the project only Friday."
Developing . . .
I guess Sly doesn't understand the relationship between tax incentives and school district success. His reading program is a farce.
ReplyDeleteSly is a huckster and a flim flam artist who races from one grandiose announcement and empty claim to the next.
ReplyDeleteNOTHING that has been touted as "development" has generated so much as a dime, unless you want to count the upside fake commercial enterprises like the P&L District.
No one's actually counting the money, the developers, construction firms, attorneys, and others cashing in love it and the 20-something downtown crowd who have no idea where money actually comes from or care about what city residents actually depend on city hall to do think it's all a freebie trip to Disney World.
Either taxes will be raised to make up the difference, or the general fund will continue to be raided for decades.
Maybe Sly thinks the Germans are going to bail him out!
Insiders say there are still "too many questions for the city to move ahead" - 8:41 a.m. today.
ReplyDeleteGuess not, make-believe insiders. Guess not.
Actually I think it's closer to $164 Million
ReplyDeleteMaybe the "scholars" of KCMO can relocate to the JoCo golden ghetto
ReplyDeleteIt continues to amaze that Russ Johnson's wife is the Executive Director of the TIF Commission and nobody finds that strange. Oh yes, it's true, she's Heather Brown and does hold that position.
ReplyDeleteThat is the ugliest freaking looking box I've ever seen.
ReplyDelete"KC neighbors say shoplifting teen was shot in leg by store clerk"
ReplyDeletePut me on the jury and the shop keeper walks.
YOu our kidding a cost benefit! How can it be a cost benefit when the city pays for more than half of the cost.
ReplyDeleteSomeone needs to create a cartoon with the Obese Bowtie cramming his thing up the katzootie of an average, hapless citizen. Preferably, the Bowtie will be smiling, the hapless citizen grimacing :( An added touch would have to Bowties pockets stuffed with developer cash.
ReplyDeleteThe citizens of Kansas City deserve the misery that is coming....
It's simple, 11:52. The streetcar will pay for the hotel which will pay for the streetcar. Facts are fun, kiddies.
ReplyDelete