Thursday, November 14, 2019
TKC EXCLUSIVE BENCHMARK!!! STRATA FUNDING SERVES AS KANSAS CITY EPIC TAXPAYER BETRAYAL FROM MAYOR QUINTON LUCAS AND COUNCIL!!!
Fun day ahead . . . Kansas City could soon discover if the mayor & council are completely full of it regarding their promises to champion affordable housing and subsidy reform.
The quick and dirty summary of the deal . . .
A scaled-back incentives request for the proposed $133 million downtown Strata tower received a crucial approval from a City Council committee. Strata's developer - a partnership among H&R Block Inc. (NYSE: HRB), Kansas City-based developer Copaken Brooks and Ron Jury & Associates - put together the reworked deal after facing resistance from the newly elected City Council and Mayor Quinton Lucas.
"The updated deal cuts out a $27 million investment in city money that would have given the city a 28% revenue stake in the project. However, the city still would be a financial backstop for a $36 million parking garage, but it wouldn’t put any upfront money into the deal."
Here's what changed, stolen quoted from a promo blog . . .
In clearing the Finance Committee, the office building proposed for the southwest corner of 13th and Main picked up critical support from a key Council member who earlier had opposed the deal.
“I think this is a great project,” said Finance Committee Chairwoman Kathryn Shields.
And so we find out who is the REAL mayor of Kansas City today.
Clarification on that headline . . . Council lady Shields was smart enough to keep from making any promises about social justice or the lodging of po'folk.
Don't worry, we can have fun either way.
To wit . . .
WILL MAYOR Q AND COUNCIL MAINTAIN THE STATUS QUO TODAY OR FINALLY PUSH BACK AGAINST CORPORATE WELFARE?!?!
You decide . . .