Thursday, February 28, 2019
NEW KCI WINNING!!! COUNCIL APPROVES SKETCHY BIG AIRLINE CORPORATE WELFARE DEAL WORTH BILLIONS!!!
Just as we predicted, an inevitability approved by Council after orders from big biz leaders.
Moreover . . .
YES, KANSAS CITY WILL PAY FOR THIS NEW AIRPORT!!! TAXPAYERS HAVE ALREADY KICKED IN $20-MILLION AND COUNTING!!!
The loans/bonds all use KCMO credit and the "standard" deal is that airlines will only commit to 9 years max. Real talk: This is a deal on Kansas City taxpayer credit cars with only a flimsy and limited IOU offered.
Here's how the other side sees it:
"The Kansas City Council approved a package of documents Thursday afternoon that are crucial to the start of the $1.5 billion Kansas City International Airport single-terminal modernization project.
"The approval is the final step for a series of documents that have been stalled in the council’s Airport Committee throughout the winter and moves the project one step closer to starting construction. A round of applause broke out in the packed City Council chambers when the motion was approved after a lengthy business session detailing updates to the documents. The vote was considered a substantial step forward on a project that has had several stops and starts while seeking approvals from a frequently divided City Council."
However . . .
SMALLER AIRLINES ARE THE FUTURE FOR AVIATION: LOCAL MSM FAIL TO REPORT THAT MOST AIRLINES DIDN'T SIGN THE DEAL THAT OFFERS BIG CARRIERS A COMPETITIVE ADVANTAGE!!!
Credit where it's dude . . .
Council lady & Mayoral Candidate Alissa Canady was the only NO VOTE.
She was eloquent and informed in her criticism:
"I've done everything I could to make sure it was a process I could be supportive . . . Moving ahead without figuring out the short-term costs is putting the cart ahead of the horse . . ." "I'm not willing to rubber stamp this agreement ask questions later, so I will be voting no."
"This project is no longer transformative. It's no different than any other project the city has done."
"I'm not willing to rubber stamp this agreement ask questions later, so I will be voting no."
And so . . .
THE FEEDING FRENZY IS UNDERWAY AND SHORT-TERM LOAN QUESTIONS FOR MILLIONS DIRECTLY PAID BY KCMO HAVE BEEN MOSTLY SILENCED!!!
Also, this is what it looks like when Kansas City signs a blank check:
There's more to unpack and the March groundbreaking isn't assured just like the promised groundbreaking in January was betrayed.
But for now, there's no denying that big biz earned an impressive win.
KCTV5: Council approves new agreements to push new KCI plan forward
KC Biz Journal: City Council approves KCI terminal project ordinance
KSHB: New KCI takes step forward after council approves several project agreements
Developing . . .