Thursday, January 25, 2018
DOWNTOWN KANSAS CITY CONVENTION HOTEL CASH INFLUX?!?!
Quick glimpse at "progress" for yet another Kansas City scheme that's big on promo without providing very many financial deeds . .
"$165 million in new private capital came in during financial closing. And 50 convention inquiries since closing announced. Groups want to bring their conventions to KC!"
Meanwhile, our blog community reminds us . . .
The hotel is already getting $35-Miilion from the General Fund (money that should go for public safety), and $130 Million in TIF diverted tax revenue (money that should go to City, School District, and other public purposes)
And so . . . Doing just a quick big of math here, it looks like City Hall might be counting KC-Taxpayers as "private" investors - Which is kinda sad since locals were DENIED a vote on the project.
You decide . . .