Tuesday, December 04, 2018
TKC BREAKING AND EXCLUSIVE NEWS!!! KANSAS CITY 'AFFORDABLE HOUSING' SKETCHY TAX SCHEMES RISK SENDING AGENCY BACK INTO RECEIVERSHIP!!!
In 1994, the United States Department of Housing and Urban Development (HUD) declared the Housing Authority of Kansas City a "troubled agency" and placed the organization into receivership.
After 20 years the group finally won back its independence in 2014 and has spent more than $175-million rehabilitating its housing stock in order to comply with federal standards.
While many believe the deplorable conditions of KCMO housing inspired the acquisition, the reality is that political gamesmanship and financial mismanagement actually sparked the takeover.
Sadly, it seems that KCMO still hasn't learned its lesson when it comes to housing funds.
Earlier we reported on a sketchy plan to to raise property taxes in order to bolster affordable housing in Kansas City. Moreover, there's a bevy of similar City Hall efforts which seek to siphon money for affordable housing as a ransom paid by developers.
Whilst the council is playing fast and loose with the cash at stake from these initiatives, as usual there's very little oversight or accounting available to the public or federal agencies.
And so, according to TOP ECHELON KANSAS CITY INSIDERS who have seen the writing on the wall . . .
THE SKETCHY POLITICS OF THE 'AFFORDABLE HOUSING' TAX SCHEMES NOT ONLY RISK PUTTING THE EMBATTLED AGENCY BACK INTO RECEIVERSHIP BUT ALSO INVITE GREATER SCRUTINY OVER HOW KCMO IS SPENDING THE CASH!!!
Here's the word . . .
"Already there are questions about what exactly KC is doing with the kickbacks they're demanding from developers in exchange for tax breaks. The accounting that we've seen so far is just press releases. No real data is being offered and the questions will get even more pointed if/when they raise taxes across the city for a slush fund in the making . . . To a large extent HAKC is getting the blame unfairly, they're actually doing some great work in many respects. But even they'll tell you that they make an easy target and a convenient scapegoat for misdeeds further up the food chain. We're seeing the same situation in KC that we had back in 1994: Almost zero oversight, political influence running rampant and dictating housing decisions while everybody is treating public funding like their own piggy bank. So another takeover isn't as far fetched as it might sound especially as some of these recent deals are exposed."
Developing . . .