TKC EXCLUSIVE!!! KANSAS CITY PLANS TO BORROW $80-MILLION TO FINANCE TWO LUXURY HOTEL TOWERS ON THE PLAZA!!!



A shady Kansas City hotel scheme has reemerged on the Country Club Plaza and now requires an astonishing investment from taxpayers.

To wit . . .

A REDESIGNED ORDINANCE PROPOSES TWO LUXURY HOTEL TOWERS ON THE COUNTRY CLUB PLAZA BACKED BY AN EPIC $80-MILLION WORTH OF KANSAS CITY TAXPAYER BACKED BONDS!!!

Here's the proof that local newsies didn't read closely and was sent to us by way of KICK-ASS CITY HALL INSIDERS who can smell this rotten Plaza deal all the way from daily toilet reading inside 12th & Oak restrooms.

Ewwww . . .

Ordinance #190856 - Authorizing the issuance of taxable industrial revenue bonds in a maximum aggregate principal amount not to exceed $80,000,000.00 . . .

Here's a brief description of the project stolen from a nice guy but a lesser developer sponsored blogger who doesn't know about the 80-mil yet because it's not part of his marching orders . . .

"The revised proposal pitched by a group called Country Club Lodging LLC calls for two, approximately seven-story buildings accommodating 304 rooms to be built on the block southwest of 46th Street and Wornall Road.

At one point there was a residential element to the plan but that was scrapped in favor of about 19,000 square feet of ground floor retail space . . .

"The 265,150 square-foot project would use about two-thirds of the block, which is currently occupied by a Commerce Bank branch and vacant land. It would face Wornall, West 46th Terrace and West 46th Street."

A preliminary sketch of the two towers . . .



Now, deets from the fact sheet that hasn't been seen by newsies yet and offers a horrific outline of the despicable financing . . .

"The City has offered a maximum of $80 million in Ch. 100 bond issuance to fund the acquisition and construction of the project, which will provide a fixed property tax schedule to provide certainty in annual tax payments for the developer as well as sales tax exemption on construction materials for the project. In order to establish a fixed PILOT schedule a 100% real property tax abatement for a period of twenty years after the year in which the Developer obtains a certificate of occupancy for any part of the Project would be conveyed . . . "

You read that right . . .

AS KANSAS CITY LOW-INCOME RESIDENTS FEAR LOSING THEIR HOMES BECAUSE OF RISING JACKSON COUNTY PROPERTY TAXES!!! CITY HALL WANTS TO FINANCE MORE LUXURY HOTEL SPACE AND DISCOUNT DEVELOPER REAL ESTATE!!!

The ordinance is sponsored by 4th District council members Katheryn Shields and Eric Bunch.



The move doesn't hurt the brand of Council lady Shields because she has made a career of out doing very big favors for her very rich friends. Real talk: Near the end of her career she's basically untouchable and one of the few people to beat a Fed case and then dance outside of the courthouse.

However, the bike/walk council dude Bunch now seems like a total sellout for pushing a luxury hotel scheme. This cynical movie gives his efforts to speak for the East side bike lines even less credibility.

Accordingly . . .

FIRST ON TKC: SHOULD KANSAS CITY FINANCE $80-MILLION FOR A COUPLE HUNDRED LUXURY HOTEL ROOMS AMID THE CURRENT LODGING GLUT?!?!?

You decide . . .

Comments

  1. Hogs at the trough10/15/19, 7:06 AM

    Business as usual in KC.

    ReplyDelete
    Replies
    1. JJ10/15/19, 7:08 AM

      Somewhat agree with TKC here. I expect as much from Shields but this is a disappointment from Councilman Bunch who I voted for; hope councilman Lucas will at least show some integrity and send this plan down the tubes.

      I guess we know Bunch learns quickly that there's no money in bikes, hotel deals are where the real cash is to be made.

      Delete
  2. Anonymous10/15/19, 7:18 AM

    The county is the county and the city is the city.

    ReplyDelete
  3. Anonymous10/15/19, 7:19 AM

    It's all just a part of the KCMO government efforts at addressing income inequality.
    That is making sure that the one percenters regularly have chances to be supported by the "everybody else" taxpayers.
    When's the next march for the $15/hour minimum wage so the very same electeds can man the barricades with their bullhorns and get some local TV face time?
    It never changes.

    ReplyDelete
  4. Anonymous10/15/19, 7:25 AM

    Developers make a lot of money even if it fails, union construction workers get well paid, and Dunn makes a big profit. Maybe they even pay off a few black grifters with some phony subcontracts. But in the end taxpayers are screwed and the jobs created are mostly minimum wage.

    ReplyDelete
  5. Pedro Peddlepusher10/15/19, 7:36 AM

    Councilman Eric 'Spandex' Bunch is supporting this scam in hopes his fellow council members will support him when he tries to push more bike lanes through the council. He thinks the other members will not backstab him when he feels it is his time to have his supporters lined up at the trough.

    ReplyDelete
  6. Anonymous10/15/19, 7:52 AM

    No thank you.

    ReplyDelete
  7. Super Dave10/15/19, 7:57 AM

    James might be gone but the same ole screw the taxpayer games continue.

    ReplyDelete
  8. Anonymous10/15/19, 8:22 AM


    People need to get that Bunch guy out, he does things with no rhyme or reason the guy is an idiot and it only takes one to screw up an entire city, which he has done already.

    ReplyDelete
  9. Thank God for Tony10/15/19, 8:36 AM

    The Sheraton on the Plaza must be pissed. After they allowed hoodlums to shoot up an entire floor of THEIR hotel at 3:30 in the morning, and then walk out the door! This will just bring competition for Hoodrats Party on the Plaza!!!

    Tony, please run THAT story again. We need to be reminded of why taxpayers should finance ANYthing on the Plaza. (Remember when Saylors tried to prove the Plaza was "blighted"? The city--and the Polsinelli law firm has since rewritten the definition to be "whatever the guys who paid for our re-election want". And I feel for Nordstrom. Dumbest move in retail history to leave Joco for the Plaza.

    Polsinelli. Which leases its branded offices ON the Plaza in the building they conned the city into buying during the War of the Jew and JE Dunn.

    Now if Eric "Spandex" Bunch is behind this, can bike lanes on the Plaza be far behind? Just remove all parking lanes. While he's at it, just close the streets too. Quinton Lucas' new "let's walk and bike, everywhere, you lazy asses" campaign--could really take off. Warren for President?

    ReplyDelete
  10. Anonymous10/15/19, 8:38 AM

    Why don't they build them at 18th & Vine?
    There isn't much difference between there and the Plaza, and they both attract about the same number of visitors anymore.

    ReplyDelete
  11. Anonymous10/15/19, 8:38 AM

    Oh no! How come the keep doing things like this? I mean we complain on here all day everyday! It's like all of of our complaining, crying, and bitching doesn't mean anything at all!!!! How can they do this??? Why aren't they listening to us??? What good is all of our consistent bitching really doing????

    ReplyDelete
  12. Tracy Thomas10/15/19, 8:39 AM

    Just paint the streets on the Plaza lime green, wall it off. Game over.

    ReplyDelete
  13. Anonymous10/15/19, 8:55 AM

    ^^^^ Better to paint Eric Bunch green and wall him up in some basement.

    ReplyDelete
  14. Anonymous10/15/19, 9:04 AM

    Thanks for reminding me about the Shootout at the Sheraton. As usually happens, local news outlets have failed to follow up. Lots of questions remain unanswered, but it would take energy and initiative to get to the bottom of them. So I guess they'll stay unanswered unless the answers get dumped in some journalists' laps.

    ReplyDelete
  15. Anonymous10/15/19, 9:37 AM

    ^^Nobody cares dummy.

    ReplyDelete
  16. Anonymous10/15/19, 9:42 AM

    Eric Bunch @EricWBunch
    12 hours ago

    Since Halloween falls on a council meeting day this year, I’m really hoping I can borrow Scott Wagner’s David Pumpkins suit.

    ReplyDelete
  17. Anonymous10/15/19, 9:49 AM

    ^^^ Well isn't that special

    ReplyDelete
  18. Hyperblogal10/15/19, 10:03 AM

    Does anyone at City Hall keep track of how much debt KC is racking up? Borrowing capacity for things that actually matter - not this - is shrinking.

    ReplyDelete
  19. Anonymous10/15/19, 10:10 AM

    Does anyone at City Hall keep track of how much debt KC is racking up?


    LOL

    ReplyDelete
  20. Anonymous10/15/19, 10:20 AM

    I'm totally okay with this. I don't care anymore. If you want affordable housing then move east of troost and quit your bitching

    ReplyDelete
  21. Anonymous10/15/19, 10:23 AM

    TOP PHOTO -- FIRE IN THE HOLE

    KCMO City Council's relationship with developers is like a streetwalker who can't turn down any offer!!!

    ReplyDelete
  22. Anonymous10/15/19, 10:38 AM

    Yeah development sucks, I wish KC looked like it did in 1998 with all the abandoned buildings downtown, etc. A stagnant city is a great city, right guys?

    ReplyDelete
  23. Anonymous10/15/19, 10:45 AM

    Everyone, there's no need to fear. City backed bonds always work out for tax payers in the end. Always as these projects ALWAYS pay for themselves and benefit tax payers. Don't believe me? See the P&L District as those city backed bonds are paying for themselves just like Queen Kay and Cordish said they would! Oh, wait...



    #KorruptCity

    ReplyDelete
  24. Anonymous10/15/19, 11:21 AM

    Expect this of the current city manager and his "good soldiers" until he exits the build (retirement) and the "good soldiers" are replaced with public servants.

    ReplyDelete
  25. Anonymous10/15/19, 12:06 PM

    10:38 and the were abandoned why? Because the city as then as they are now not fixing the infrastructure. I remember the downtown being a thriving area till it was allowed to get nasty and ugly looking. The city leaders fucked up then as they are fucking up now.

    ReplyDelete
  26. Anonymous10/15/19, 12:18 PM

    Is Quinton back to work after celebrating Coming Out Day? Does he know about this? How does this benefit his favorite gay causes?

    ReplyDelete
  27. Anonymous10/15/19, 12:42 PM

    ^^I don't know, did you celebrate it, or are you still in the closet? Most people who aren't closeted and under 60 don't care in the least. Grow up, or die off!

    ReplyDelete
    Replies
    1. Anonymous10/15/19, 2:09 PM

      Oh, Simp Chimpster, your CTE is making you into such a meany. Come on, cheer up. Time for monkeyshines!

      Delete
  28. Anonymous10/15/19, 1:01 PM

    If they’re going to build “towers” on the Plaza, why not apartments instead of hotels? With the new downtown convention hotel, visitors should have plenty of options. Most of the apartments on the Plaza are lacking modern amenities (garage parking, washer/dryer in unit, etc).

    ReplyDelete
  29. Anonymous10/15/19, 1:53 PM

    There must be something they have on that arrogant bitch shields that could get her thrown out. And how the hell did she beat that fed case?

    ReplyDelete
  30. Anonymous10/15/19, 3:32 PM

    Councilwoman Shields provides great civic leadership. That's why she won reelection with over eighty percent of the vote. Hotel deal is old news, started with the last council. Try stay a little more current Tony's KC

    ReplyDelete
  31. Anonymous10/15/19, 3:36 PM

    Posinelli has every lawyer in town by the balls. Because they hold Bar Hearings IN THEIR OFFICES. And any little complaint can be magnified by lying witnesses out to make a buck and smear someone.

    ReplyDelete
  32. Anonymous10/15/19, 4:22 PM

    The stupidity at city hall nevar ends.

    ReplyDelete
  33. Anonymous10/15/19, 4:23 PM

    Given what the tax receipts on the vacant land are now, development may actually benefit the taxpayers.

    ReplyDelete
  34. Anonymous10/15/19, 5:31 PM

    development may actually benefit the taxpayers.


    ROFLMAO

    ReplyDelete
  35. Anonymous10/15/19, 5:45 PM

    Corrupt Katie strikes again. First Plaza mortgage fraud, now this.

    ReplyDelete
  36. Anonymous10/16/19, 2:37 AM

    If we build it, they will come. Enough with the fucking hotels ! This city really needs decent, affordable housing but let's agree to finance more builders only serving themselves. Get the crime on the Plaza under control first and then maybe this kind of expense could be justified. The city council lives in their own world.

    ReplyDelete

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