Thursday, February 07, 2019

TKC BREAKING NEWS!!! NEW KANSAS CITY AIRPORT PIE IN THE SKY 'DEAL' EXCLUDES FINANCING COSTS AND MORE DEETS!!!



Today's airport committee meeting served mostly as an enthusiastic pitch for the new Kansas City Southwest Airport and inspires even more questions.

Basically . . .

NEW KCI SUPPORTERS DEMAND CHEERLEADING OF AN INCREASINGLY SKETCHY DEAL THAT'S NOW IN A PANIC FOR MORE MONEY!!!

The suits that stood in front of City Hall today were basically asking for cash in a hurry with an executive from Edgemoor brazenly telling council that "WE'RE NOT A BANK" as they seemed to encourage City Hall to borrow cash for short term financing rather than wait for final approval of this so-called deal.

Based on Aviation Dude Pat Klein's assurances and City Manager Troy Schulte's quick responses . . . They want to keep the "momentum" going and rush $90-MILLION to Edgemoor either from inter-fund borrowing from the Water Department OR the Industrial Development Authority of Kansas City.

As usual, Mayor Sly lost his temper and chided the Council for asking questions:



"Nothing has changed!" Mayor James scolded the room.

Actually, more than anything, what we've seen is that there are a lot of moving parts to this deal that are constantly evolving.

Brief aside . . . Nobody seemed to mention that this "deal" still doesn't include two of the airlines that Southwest is more than willing to cut out. They explained away the absence of two airlines that had previously held up the deal but it looks like the small carriers will STAY WINNING by staying far away from this busted negotiation and signing on their own terms later.

Credit to Councilman Scott Wagner for his persistent line of questioning.

"I want to know the terms of the deal before we start celebrating," he warned.



The highlight of what the mayoral candidate uncovered . . .

THE $1.5-BILLION COST OF THE NEW AIRPORT DOES NOT COVER THE FINANCING OF THE DEAL THAT WILL ADD BILLIONS TO THE PRICE TAG!!!

Even the airlines admit this one . . . Think of the deal like financing a home, there's the list price and then all of the financing costs over the years which add up to far more than the initial listing. In this case, still around 4-BILLION when everything is said and done.

Once again Council Lady Loar was forced to stand up to Mayor Sly's tirade and not only defend questions from the Council but remind him about who is REALLY on the hook for all of this . . .



Council Lady Loar stated: "The agreement is with the airlines but in the end . . . Aviation, a department of City Hall works to sell these bonds . . . The taxpayers own the airport."

Another important not-so-fun fact that was heretofore unknown but now revealed thanks to questions from Council Lady Heather Hall . . .



Kansas City has to pay $20-MILLION to tear down terminals B & C

That's not covered by construction cost or bonds. The cash will come from Aviation. So essentially, that's a huge amount that taxpayers will be paying for the new airport . . . They're just not counting that as part of the construction. Remember that tactic, it'll keep coming up for the next 35 years.

Final note . . .

The airlines claim the new airport will keep the same "scope" despite $140-MILLION cut from the budget but, again, the airlines didn't really explain how they plan to do more with less and instead claimed the scale of the project and negotiating with bidders would allow them to live up to expectations.

And so the rush agreement is on its way to becoming a sketchy ordinance on February 25th.

Developing . . .

29 comments:

Anonymous said...

Hey, what's another 20 million between friends?

Anonymous said...

Let the feeding frenzy begin. This one seems like a world class ripoff and something that businesses will be talking about for years to come. It's when KC really got serious about moving toward bankruptcy.

Dex said...

$20 million to tear down terminal B and C? It'll cost way more than that, the estimate isn't even close. It'll be 50 million if it's a dime.

Anonymous said...

And why does it cost twenty million to tear down one terminal? They imploded a much bigger building for a million dollars last year, I mean, we are only tearing down one building right now because the other two are still being used right?

Anonymous said...

^^^^ Excellent point. I guess hey have to pay of the right people.

Anonymous said...


Look at Sly James doesn't he look like an idiot with his head cocked? Don't you just want to take a board and hit him?

It's so fun to pick liberals out on the street, they all have that same stupid look.

Anonymous said...

^^No I don't. But them I'm not a broken, busted, bitter loser who spends all her time on a blog for dying geriatrics. Unlike you, I matter. You never amounted to anything and are nobody of significance or consequence. You can always spot the pants-shitters on this blog, they all make dumb posts like yours.

Anonymous said...

This airport has become one of the worst disasters in KC history and they haven't even designed the whole thing yet. Not a lot of room for confidence here.

Unknown said...

When it comes time, vote every one of these clowns that didn't listen to US, their constituents OUT! They don't care about us, they just want to line their pockets!

Anonymous said...

The airport deal gets uglier every day and the mayor and Edgemoor get more desperate every day. Glad Wagner, Loar and Hall stood up to Slie and his gang of henchmen to get the details of what is happening.

KCpedia said...

Sly says "Please bend over and smile KC residents." "Come fly with us."

common sense said...

1:12 Sly isn't the idiot. Whoever voted for him is an idiot.

1:20 Greatest achievement = troll.

Anonymous said...

"Edgemoor brazenly telling council that "WE'RE NOT A BANK" as they seemed to encourage City Hall to borrow cash for short term financing rather than wait for final approval of this so-called deal."
Makes one question what Edgemoor and the city are hiding and not telling the people. Also wonder why Edgemoor is in such a hurry to suck more cash out of the city. Corrupt deal from the get go.

Super Dave said...

You know very well the pubic will be the last to know what the total costs for this unnecessary overhaul of a perfectly good operating airpot will be till well after the fact. Those figures will be hidden deeper than the body of Jimmy Hoffa is. But you can sure bet the taxpayers will be the ones straddled with the cost of it as those in charge of this charade move on to live elsewhere while not giving two hoots and a damn who has to pay for their 15 seconds of fame.

Anonymous said...

I’m waiting for Jolie to weigh in. She is very fat and weighs a lot. Not as much as that fat lying cocksucker Sly.

Anonymous said...

they are all insane.

Screwed in KC said...

I'm fine with 3 to 5 BILLION as long as I get a FOUNTAIN !!!!!!!!!!!!!!!!!

Anonymous said...

It's 0% for 72 months, a great deal!

Anonymous said...

Slie is the poster child of the militant, bullying, name calling intolerant left.

Anonymous said...

What's lost in all this is we really don't need a new airport

Anonymous said...

Building portfolio, Imaginary Legacies, or retirement plans.

Anonymous said...

Where is the state auditor?

Anonymous said...

This is obviously the worst disaster in the history of mankind and when humanity looks back they will recognize your genius regarding the situation.

Oh sorry I was only listening to you guys.

Anonymous said...

At the end of the day the new airport has fewer gates and will drive away small airlines from flying into this city.
Why did Sly want this so bad??? Entitlements to his folks.

Anonymous said...

If nothing else, this fiasco of the James administration will become case studies at the Harvard Business School and the Kennedy School of Government as to how NOT to undertake a large costly public project.
The city has already spent millions and has nothing to show for it and after the farce started out the way it did, it's only gotten much much worse.
And will get even worse.
And all started because the former airport director purposefully didn't maintain, repair, or improve the facility because he wanted something shiny and new.
And there was no oversight or accountability on the part of elected officials.
Amazing!

Anonymous said...

The state auditor in Jefferson City, 4:09. But since this is all being done legally, she's not coming over to give you a fucking handjob or whatever it is you want her to do.

I'd call the FBI if I were you guys! Thank God I'm not.

Real KC Voter said...

Jolie won't make the primary. This is why.

Anonymous said...

sly, justus, edgemoor may become internationally famous idiots.

Anonymous said...

B and C won't get torn down. They'll be rehabbed after funding runs out for new terminal.