Tuesday, June 18, 2019
DOWNTOWN KANSAS CITY DEVELOPERS STAY WINNING AS QUESTION 1 DEFEATED!!!
There will be no incentive reform in Kansas City.
In what is likely the most important election return of the night, KC voters want to keep the gravy train going and hope that promises of jobs and economic growth will inevitably trickle down.
66% of voters voted NO on Question One.
The ballot measure would have capped at 50% the amount of property taxes the city can abate or redirect on development projects.
Pundits hope there will be continued conversation for incentive reform but activists now have very little leverage for their arguments. Instead, KC voters choose GREED OVER FEAR.
Meanwhile, the market limits incentives better than any local government as recession looms and the building boom inside the loop might very well be complete.
Developing . . .