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 . . .

16 comments:

Millions said...

I guess that it'll be okay. Sly said he would get it started and I trust him dearly.

What could go wrong?

Anonymous said...

NOOOOOOOOOOOOO!

Anonymous said...

This is just how KCMO government actually works.
It's called "scouring the accounts".
When the latest "must have" project appears out of nowhere, simply go through the entire city financial system dialing for dollars.
It makes no difference what that money was originally budgeted for or even what specific purpose the tax was passed to support.
PIAC infrastructure money for streetcar consultant studies?
No problem.
Endless ad hocrisy.
And the numbers just get bigger and bigger.
And the hole gets deeper and deeper.
In the case of the airport, it's a shame that residents of the entire metro have to suffer from KCMO's incompetence and dishonesty.

Anonymous said...

Hooray, hooray, another massive misinterpretaipn of city finances to start the day!!!

Tony, your insiders could read a parking ticket and interpret it as a murder warrant.

Anonymous said...

Sure am glad Tony is calling attention to this.
The Star wanted the airport and endorses it- urging fleeced taxpayers to vote yes.
Where was their math? Where was Plan B?
Why do 2 of the most Violent cities in America have City Earnings tax? Did the Star dona story linking the earnings tax to violent crime? It disproportionately affects the poor.
When will the new Airport terminal project get investigated? What are the dollars ? How close to the original project as presented to voters will get built?
Tony- Keep the questions coming... because someone who is serious about modern journalism has to!

Anonymous said...

6:51am FTW

Anonymous said...

See you chumps at the airport ground-breaking!!!!!

Anonymous said...

It is not "tax payer money" they are using. It is "stolen from the tax payer money" they are using.

Anonymous said...

"Tony, your insiders could read a parking ticket and interpret it as a murder warrant." Someone has this backwards. Public trust is being murdered by dodgy accounting that city hall would like you to believe is no more serious than a parking ticket.

Anonymous said...

They're already removing the jetbridges from Terminal A. With what money? Is there a final contract with Edgemoor? Have the airlines signed anything? Where is the KC Star? Where is the transparency?

Anonymous said...

"Why do 2 of the most Violent cities in America have City Earnings tax?" They need the earnings tax precisely because they are two of the most violent (and otherwise ill governed) cities in America. The earnigs tax is the only way that KC and StL have to keep their hands in the pockets of all the well to do residents and successful businesses that have wisely relocated to the suburbs.

Anonymous said...

72 million on top of the already 40 million that we already gave them?

Anonymous said...

Prominent Leawood kansas realtors Ronda and aka "Bill" William white are allegedly old hands at making millions too.

One realestate contract used or unused accepted or rejected pays multiple commissions in alleged elaborate mortgage fraud schemes with buddy lender banks...

banks allegedly get lion share $$$ selling fabricated loans to fed gov Fannie Freddie and Ginnie Mae. Dang yaw....

Anonymous said...

jet vridges removed is a bunch of posturing assholes. Edgemoor has no idea what they are doing except trying to make some money.

Anonymous said...

Two words: Fuck No. Stupid voters voted for this shit on nothing but hope and promises. Now, its like everything else. Just keep flying over Kansas shitty. We can take the bus to St. Louis and catch a flight there.

Anonymous said...

....meanwhile old KCI just keeps those jets and passengers moving right along.

Why are they trying to tear it down? Because years ago, Sylvester and Company were embarrassed when an airport "consultant" laughed at KCI as an old design. Never mind that he was trying to score another contract. Sylvester and Company went on a junket visiting other cities and came back to KC determined to build a shiny new toy that would make KCMO a "world-class" city.