Monday, December 30, 2019

Kansas City TIF Ponzi Scheme Explained

Money line that many Kansas City residents might not realize:

"Most cities and towns in North America are functionally insolvent. This is not hyperbole. It comes down to a simple question: Is new development producing enough wealth to fund the long-term maintenance of its own infrastructure—let alone public safety and all the other services that we expect government to provide? When we examine these costs and revenue streams, we often find the answer is no. "

Read more:

This 'Ponzi scheme' surrounding development leaves most cities and towns functionally insolvent

For a community, rapid growth is easy. Bolstered by state and federal funding, municipal bond debt financing as well as tax incentives and deferrals, cities and towns that want to induce new development have many means of doing so.

7 comments:

Anonymous said...

Yet people here never challenge authority. Strange.

Ari Stocrat... said...

Its because 99% are to stupid or uneducated to understand... They're basically barefoot and pregnant in the kitchen doing what they're told..Sad...

slow the fuck down said...

There are so many holes in this article. Waste of time. Yet I read it.

Anonymous said...

This responsibility was trusted to the elected, but promises of solvency and maintaining what you have don't get you elected. This would be mitigated by only allowing citizens that pay taxes on real estate to vote. The masses what bread and circuses, so that is what we have.

seanot said...

Pick one and expand on it.

Anonymous said...

The biggest TIF ponzi schemes are called Arrowhead and Royal's Stadiums. Billionaires paid $200 million a year in tax-payer funds to build and maintain the very stadiums said Billionaires make their billions along with 40 multi-millionaire players. Now that is a Ponzi scheme.

Anonymous said...

Add leawood kansas realtors bill(aka William and Ronda white to the list of scammers...

the whites appear to allegedly been involved in shady dealings especially bill white for years.

Bait and switch realestate sales contracts allegedly changing sales price of homes then having MORTGAGE loan officer to allegedly advance sales commissions for loans that had not closed with forged signatures of borrowers.

Both live the lifestyle of the rich and famous although their white elephant home has been in and out of foreclosure for years.

Bill white has quite a reputation at the Missouri realestate commission.

Someone has covered him for years while he allegedly scammed customers. See reports .

One report alleged bill offering a j.c. penny gift card to an unsuspecting guy to refinance home with a lender although loan wasn't that old.

Another report alleges threats to realtor who took over listing after customer no longer wanted white and associates services.

Although regulars on hgtv house hunters...

No one allegedly peered beneath the facade to see how desperate they are to allegedly do corrupt deals.

The whites appear to have fooled lots of folks and have allegedly made lots of $ doing this even when the housing Market was in a tailspin.

It's the one soda 10 straws trick. Imagine being paid for a realestate contract even if the home was never sold to that person...

but contract passed to loan officer to use in loan scheme netting high returns of cash to committed schemers.

Allegedly Pretending home was actually sold to that customer but wasn't......

Wow... two consenting adults...