Thursday, December 20, 2018

Council Wants Kansas City Taxpayers To Fund $27-MILLION Downtown Office Scheme

The commercial property game is risky but thanks to the City Council finance committee, local taxpayers will serve as a piggy bank for the ruling elite as they build a space on the city's dime that doesn't have any major tenants and also include private parking the local plebs can't touch. Here's the propaganda view of the proposal that is the latest deal to threaten the general fund. Read more:

KC council committee approves new office tower downtown

KANSAS CITY, Mo - Kansas City's skyline could change if plans for a new office tower are approved. On Wednesday, the city's finance committee approved the first office building since the early 1990s. The proposed 250,000 sq.ft. project called "Strata" would be at 13th and Main, right across from the H&R Block tower.

12 comments:

Anonymous said...

The office building doesn't have any major tenants and also includes private parking the local plebs can't touch.

Score another developer handout for Slie while the taxpayers and basic city services take a hit.

This is the build it and they will come mentality.

Anonymous said...

"Scheme" being the key word here.

Anonymous said...

Build a nice new taxpayer subsidized building and move tenants from an older building that pays full taxes. That's definitely economic development.

Anonymous said...

Wow now thats progress. Another apartment building.

Anonymous said...

We don't need a new office building. Commerce Tower just turned into apartments and so have some other office buildings downtown. There is plenty of vacant commercial space downtown including State Street and Town Center Plaza just to name a few. Stop this craziness!

Anonymous said...

^^^Wrong dummy. Downtown office space runs at an 8% vacancy rate currently. You have no idea what the fuck you're talking about. Be gone!

Anonymous said...

^^^^^^^

Wrong Byron Flunkhouser Downtown office space is way more than that on vacancy and so is midtown office space and also retail space!!!!!!

Anonymous said...

^^Wrong idiot. 8:11AM is correct. You also have absolutely no idea what the fuck you're talking about. Please refrain from ever posting again. A simple phone call to the Chamber of Commerce can give you the facts.

Anonymous said...

Makes more sense to subsidize office buildings than it does boutique condos. Need to bring more jobs downtown instead of out in the suburbs

Anonymous said...

Just remember to come armed to your new "downtown" job. Ask butt boi the directions. He's in his basement geezer hating, but will take time out to map quest a safe route for you.

Phil Cardarella said...

Whatever happened to Capitalism? You know, where INVESTORS invested their own money and reaped profits or suffered losses?

I understand the concept of Tax Increment Financing -- TIFs -- using a part of the INCREASE in tax revenue to subsidize development. But, why DIRECT payment or guarantees based on the City's General fund (at the possible cost of roads, public safety, low-income housing, etc). But this is asking the taxpayers to subsidize real estate speculation!

If this is a good idea, why is TIF not enough? The City already spends $14 Million in General Fund dollars directly subsidizing a woefully mismanaged Power & Light -- and then gave Cordish another $17 Million for Three Light.

Anonymous said...

Phil is asking uncomfortable questions about this tower. Cast your eyes east and see St Louis scrambling with multiple vacant towers e.g. at&t tower built as recently as 1986 and now vacant. Why would we want to do the same thing.

Comment about subsidize businesses better than residences, I agree. I am not sure if the city planning staff still want a CBD because everything points to downtown just being expensive subsidized housing. Maybe the thought was more rooftops downtown more retail more sales taxes but no way those cherished downtown dwellers are ordering everything off Amazon and ups trucks block the streets.
Radish