Thursday, July 25, 2019
COMMUNITY NEWS REVEALS KCMO-OWNED GROCERY STORE DESTINED TO FAIL!!!
On the topic of an embattled local foodie outlet that recently garnered $375K worth of 12th & Oak funding, the Northeast News pens one of the best columns we've read so far this year.
To wit . . .
NORTHEAST NEWS DOCUMENTS EAST SIDE SUNFRESH FAIL LOCKED INTO THEIR OPERATING STRUCTURE!!!
Read the entire column, here's the money line that offers great financial deets and a wealth of experience . . .
"Roughly 75% of sales at grocery operations on the city’s East Side are purchases using WIC and or EBT cards. Those purchases incur no sales tax.
"Sales taxes are used to repay the TIF financing. So immediately upon the doors opening, the store is already failing to meet its financial obligation."
And then . . .
We won't call this sour grapes but it's a delicious look at the newspaper game behind the scenes from the vantage of two institutions trying to find their way into the future . . .
Northeast News: "Our overtures for an ad buy to date have been met with crickets. Maybe we’re barking up the wrong tree though, maybe we need to send a proposal to City Hall to see how that flies.
"This critically-thinking news-pooch wonders how long the Linwood and Prospect grocery operation will be a drain on city resources. Over $17 million has been invested in the shopping center project so far."
Developing . . .