Thursday, April 25, 2019

DISGRACE!!! SHAMELESS DOWNTOWN KANSAS CITY DEVELOPERS DEMAND EPIC TIF FOR LUXURY HOTEL!!!



The latest slap in the face for just about everybody who isn't on the payroll of this project . . . Take a look a disgusting scheme that threatens bankrupt this town:

KC Biz Journal: Luxury hotel developers: KC's first 5-star property should get TIF

Deets:

Developers of the $63 million high-end hotel proposed on land adjacent to the Kauffman Center for the Performing Arts plan to make their case to the city's Tax Increment Financing Commission of Kansas City in May for financial support.

Whitney Kerr Sr. of Cushman & Wakefield and Eric Holtze of EJ Holtze Corp. told the Kansas City Business Journal they plan to use private investments to develop most of the hotel near Wyandotte and 16th streets.

However, they are requesting a 75 percent TIF plan over 23 years, meaning the developers would receive about 75 percent of the property taxes on the new project, which would go toward a total of $19 million bond servicing during the life of the TIF. The remaining 25 percent of the property taxes would go to taxing jurisdictions.

Developing . . .

14 comments:

Anonymous said...

Fuck Whitney Kerr and these jerks.

I'm normally a nice guy but in this case fuck you.

Anonymous said...

Tax subsidies for a new luxury hotel in downtown KC? Are you kidding?

Grip Madlock said...

Luxury amongst the rats.

Anonymous said...

Sept 2018

Mayoral contender and Councilman Quinton Lucas who pointed out that TIFs become massively unpopular every four years when candidates are running for office. This year will be no exception.

“I’d encourage the developer to sit down and renegotiate and think about a better package,” Lucas told us.

Councilwoman Jolie Justus, who’s not a candidate a mayor, said, “Clearly it would be wonderful to have those types of luxury hotels. But this is not the time to have that conversation.”

Anonymous said...

The convention hotel going up basically right next door is a TIF and also actually three community improvement districts. The lodging, the banquet and the meetings space are separate CIDs. Someone correct me if I'm wrong about this...

Anonymous said...

No chance the TIF Commission approves this. But the developer believes it was told by a majority of the City Council, including Q, over a year ago they would be in favor. City Council can override TIF Commission. City Council is where this will play out.

Common Sense said...

If people don't want to see more property taxes diverted from schools to private developers, then rise-up Dammit!! Rise up and contact the city council! Make your thoughts known. Sly will ram this through just before he leaves office. I am so sick of these incentive giveaways! Dammit people our streets are falling apart, our water bills are sky high, we lack enough police officers. When will enough be enough? !!!!!!!!!!!!!

Quinton and Jolie should be made to clearly state their opinion on this !!!

Retro ROCKER said...

Myself and Tonyskansascity readers have stated this for over a year .When it is Built go down and have a nice meal and see how your Tax dollars are being spent .and write a food review.

Anonymous said...

KCMO CITY HALL has taught real estate developers to:

1) NEVER build anything with only private investment.

2) ALWAYS ask for maximum possible tax breaks, incentives, exemptions, rebates, etc.

3) ALWAYS inflate your rosy projections for number of jobs created and economic stimulus resulting.

4) ALWAYS make campaign donations to those on the Council who carry your toxic water.

5) ALWAYS or MOSTLY choose to personally reside outside of KCMO. City Hall favors non-residents, and is always seeking the approval of outsiders, while ignoring KCMO residents.

Anonymous said...

^^^ +100

Anonymous said...

Survival of the unfittest.

Anonymous said...

More Bullshit that has to stop and stop now.

Anonymous said...

Lee's Summit just did the same thing. They over rode the TIFF commission on their stupid project, which went under the guise of saving a church, by leaving the front of the building on, and adding high rise luxury, and parking to an area, which may not have been re-zoned for mixed use. How is this public benefit? They still won't account or the two plus million allocated for an arts/ farmer's market they were supposed to build last year. Time for an audit. City Hall has EVIL cronies stealing taxpayers blind.

Anonymous said...

KC is currently overbuilt on hotels and still this is foisted. The right answer is hell no until basic things are well addressed in the city. Wrong focus and the people need to send the council and mayoral candidates that message.

10:05 for the win.