Thursday, December 14, 2017

TKC BREAKING AND EXCLUSIVE NEWS!!! INSIDERS: IS KANSAS CITY APPROVING ILLEGAL NEW AIRPORT MOU TODAY???



Mayor & Council are set to approve the #NewKCI Memorandum Of Understanding with Edgemoor today despite a threat that the funding mechanism for the new airport might not exist if a current draft of the GOP tax break budget is passed.

Remember that private activity bonds are out of favor among the Republican majority and, just like Tiger Grants . . . They're not a Democratic Party priority amid ongoing concern over healthcare.

And so . . .

KANSAS CITY APPROVAL OF THE MOU FOR THE NEW AIRPORT IS WORTHLESS UNDER THREAT OF THE GOP BUDGET CRACKDOWN!!! WHAT MAYOR & COUNCIL ARE PASSING TODAY IS NOTHING LESS THAN A BLANK CHECK!!!

We've explained this before but here's a very eloquent KC Insider quote . . .

"Congress passed the tax bill that would eliminate the "private activity bonds" the exact same bonds that were going to pay for the airport! . . . What a fun thought that the airport vote was all for naught! If this reform sticks, Kansas City would then have to go back to the ballot to pass airport revenue bonds to pay for the new terminal!"

Even worse, we've seen the MOU and the deets are pretty horrible . . .

- 35% MBE/WBE hiring is a nice goal but that's has never happened in KC history and sets the stage for a lot of local fake inclusion.

- Nobody wants to mention $20-MILLION in up front costs which contradict City Hall promises about KC taxpayers footing the bill . . .

- A 1-BILLION-Dollar budget is a GUESS at best.

Anyhoo . . .

After a rigged vote the process threatens to move forward today with very little of the initial financial promises to voters intact.

Developing . . .

12 comments:

Anonymous said...

It'll be fine. Just trust Sly.

Anonymous said...

And just had all the opponents said, some way somehow tax money would have to be used. Slick Sly jammed it to the taxpayers

Anonymous said...

I own an actual WBE certified by MO and KCMO and I always get screwed out of any of these deals. Contractors just buy from their favorite vendors and never use WBE's and MBE's who can actually do the work or meet their requirements.

Anonymous said...

Even if we had another vote for the airport, Kansas Cities voters are too stupid to understand the ramifications. Even if they realize that their own tax money is going to pay for the airport, their collective dumb asses will still vote for it.

Anonymous said...

@8:22AM, us too. We get last minute calls, like the day of or day before the bid, for quotes. Its clearly so the prime can say "see, we tried and didn't receive a response". But, even when I was able to put together good numbers on a last minute request, we only get 1-2% of the bids we put in. Even when we verify our numbers were better after the opening. It's a grease our skids corrupt system for sure. We've had a couple of the primes ask us if they can simply run invoices through us for a "fee" while using all their own material, equipment, personnel, etc. No thanks, that clearly indicates a willingness to openly violate state law, and we'll never do business with them again.

Anonymous said...

READ THE DETAILS!!!!

Exhibit E. Community Benefit Agreement Status
9. Non-Profit Contributions
Developer must make a $1 million dollar contribution to Love Thy Neighbor fund and provide volunteers. What does this have to do with constructing an airport terminal? Absolutely nothing! This must have been a payoff of sorts to Council members Canady and Barnes, as they got $375,000 from the city in 2016 to start this home repair program for inner-city elderly.
Developer must make a $1 million dollar contribution to the Shared Success Fund. This is a Sly James creation in which city dollars are redirected to projects favored by a non-elected committee.
Developer must make a $1 million dollar contribution to a Historic Preservation fund.
Please read the entirety of the Community Benefit Agreement, and Exhibit E at the end of the MOU to understand how inefficient and graft-prone KCMO municipal government is in it's operation.
Exhibit F. Reimbursement Agreement For Qualified Out-Of-Pocket Costs
City will obligate itself to reimburse Developer for these costs. Provided estimates amount to approximately $30.5 million dollars.

Anonymous said...

As usual you throw up all kinds of bullshit neither you nor your "insiders" know jack shit about. Nevertheless it has never stopped you from making all sorts of assertions as to people's honest intents. You cheapen most of what you write about.

Anonymous said...

Travelers’ changing habits, in fact, have begun to shake the airports’ financial underpinnings.
https://www.nytimes.com/2017/12/11/business/airports-ride-hailing-services.html?em_pos=small&emc=edit_ct_20171214&nl=technology&nl_art=3&nlid=38259106&ref=headline&te=1

Anonymous said...

This seems like a lot of hassle to go through just to get a Chili's and Cinnabon at the airport.

Anonymous said...

Final tax bill will likely preserve private activity bond

WASHINGTON – The final tax bill is likely to retain tax-exempt private activity bonds, which are used for multi- and single family housing, airports, water and sewer facilities, as well as nonprofit hospitals and universities, several sources said Wednesday.

Translation: See you at the groundbreaking.

Anonymous said...

So let's review.

"Remember that private activity bonds are out of favor among the Republican majority"

Evidently not.

"Congress passed the tax bill that would eliminate the "private activity bonds" the exact same bonds that were going to pay for the airport!"

Also incorrect! CONGRESS has "passed" nothing so far.

But great post there: based on two inaccuracies.

Byron Funkhouser said...

Three Republicans are a NO vote, & John McCain may not be able to make it to chambers to vote, plus Jones changes the math, & they can stall, & will, but he's a Senator now.