Wednesday, January 02, 2019
NEWSFLASH!!! STALLED NEW KCI ACTUALLY NEEDS 72 MILLION BUCKS FROM KANSAS CITY TAXPAYERS!!!
Going into 2019 there is one thing that's clear regarding the #BetterKCI effort . . .
THE NEW KANSAS CITY AIRPORT IS A STALLED FINANCIAL NIGHTMARE THAT NEEDS CASH FROM TAXPAYERS DESPITE PROMISES TO THE CONTRARY!!!
The clock is ticking and the BURN RATE of the deal so far demands a solution before the next election and so far the airlines are playing hardball with otherwise hapless City Hall politicos who only know how to bully local politicos and usually approach all corporate execs on their hands and knees . . .
Thankfully . . .
THIS KICK-ASS KANSAS CITY INSIDER EXPLAINS THE CURRENT NEW AIRPORT CRISIS AND OFFERS AN ALTERNATIVE TO LOCAL "JOURNALISM" PROPAGANDA!!!
Here's the word . . .
If you drill down on city council ordinances, you find what appears to be a financial shell game for financing the new airport. First, some are claiming that money to be spent keeping the project going isn't taxpayer money (currently proposed at 72 million dollars; see ordinance 180862).
According to these folks, there is no violation of campaign promises for the new airport; i.e., no taxpayer money involved. This where it gets tricky. Some are claiming that no taxpayer money is involved because the cash is coming out of a thing called the Airport Terminal Bond Fund, which is money from airport revenues (see city ordinance 170941). This is bogus for at least two reasons: First, KCI is a public facility operated by the Aviation Office of KCMO. Which means KCI's revenues belong to the people of KCMO. Second, ordinance 180862 makes it clear that bond money to build the new airport, if and when such money is forthcoming, will reimburse the city for spending its own funds, "borrowed" from the airport.
What happens if the city spends the 72 million dollars and bond money is not forthcoming? Is the airport, and therefore the taxpayers, on the hook for the 72 million dollars? Looks that way.
Developing . . .