Monday, October 21, 2019

SHOW-ME MAYOR Q FACT CHECK ON MORE KANSAS CITY LUXURY HOTEL SUBSIDY!!!



This blog BROKE NEWS about more big money hotel subsidy and even if policy wonks are too timid to reference this blog . . . We share the tax fighter reference nonetheless . . .

Remember that KCTV5 followed up on TKC FIRST NEWS and got this quote from Mayor Q:

"There is no money coming from taxpayer sources to directly fund this. The question on the bond obligation is to what extent is the city pledging its full faith in credit in connection with the lending?"

The ensuing screed from our pals at Show-Me with the help from a few 25 cent words . . .

Despite the fact that Kansas City just held an election in which the city’s profligate use of tax subsidies played a major role, the city council is at it again.

Money line . . .

"The project doesn’t use existing taxpayer sources, but it may abate or redirect the taxes that would have been paid but for this ordinance. It’s a distinction without a difference. As for the second part, that is a whole other consideration: If the project goes belly up and no taxes are being redirected to bond payments, will bondholders come after the City of Kansas City, the folks who issued the bonds?"

As always, KCMO taxpayers are usually left holding the bag.

You decide . . .

6 comments:

Anonymous said...

Just like SLie said about the airport. "Won't cost the taxpayers a dime".

Anonymous said...

Another grifter fraud. What did you expect?

Anonymous said...

Really disappointed in Shields, thought for a while she had picked up a bit of her constituent's concerns - guess not!

As far as Councilman Pantiesinna Bunch, no surprise at all!

Anonymous said...

Yep, much like the P&L. Yeah, they'll say everything is fine in the beginning and that tax payer dollars aren't at risk. Then you fast forward a few years and the project isn't coming close to meeting projections then next thing you know, "no direct tax payer sources will go towards the project" turns into money coming out of the general fund to cover the bond repayment.

But hey, don't listen to me. Check the financials on the P&L and decide for yourself.

#KorruptCity

Anonymous said...

^^thanks, we won't listen to you!

Anonymous said...

Least he came back with a valid example. You came with idiocy. Typical. Now go sit down somewhere so the adults can talk simpleton.