Economic reality suggests that the recovery from the pandemic is going to be a lot harder than most people imagine despite the urge to get back to rampant borrowing and running up debt.
Example . . .
Europe’s major economies predict more dire declines to come as coronavirus rages
To be fair, here's municipal hype that desperately seeks a return to the KCMO toy train streetcar building boom . . .
Historic Westport High School Would Become Apartments Under New Plan
The developers who renovated the former Westport Middle School into co-working space now are tackling the historic high school across the street, proposing a $45 million apartment redevelopment. The vacant Westport High School building, which opened in 1908 at 315 E.
Luxury Living Space well within the Ghetto?
ReplyDeleteWow, what a great idea - where's the Taxpayer's checkbook?
If its such a great idea, why don't they build it out of their own pocket?
What are they going to name it, Fort Westport?
Ghetto Waldorf
ReplyDeleteHood Hilton
ReplyDeleteGhettolago
ReplyDeleteRitz Ghetto
ReplyDeleteThe Polished Turd
ReplyDeleteThe Money Pit
ReplyDeleteThe Boondoggle
ReplyDeleteCrack Tower
ReplyDeleteEBT Central
ReplyDeleteWelfare Estates
ReplyDeleteSub-Saharan Suites
ReplyDeleteThe Spearchucker Space
ReplyDeleteThe Ghetto Grande
ReplyDeleteDen of Dintdonuffins
ReplyDeleteThe IKANTBREEVE
ReplyDeleteCONGO CONDOS
ReplyDeletemb
Good God. I haven’t laughed this hard in years
ReplyDeleteThanks to all of the above
BETWEEN THE LINES
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Financing the ambitious redevelopment plan could be challenging.
Under a deed attached to the high school when it was sold by the district in 2016, no property tax abatements can be provided as an incentive.
Property tax abatements are often a key incentive in redevelopment projects with similar extraordinary costs. They have been criticized by the school district because they reduce the amount of future property tax revenues available to fund its operations.
Sustainable Development Partners plans to seek a loan from the U.S. Department of Housing and Urban Development.
Funding also would come from federal and state historic tax credits.
The developers also are asking the PIEA board to approve a sales tax exemption on building materials.
There is a possibility, however, the school district may be asked to modify its incentive restriction.
“We have said we’re not requesting any (tax abatements) right now,” Brain said, “but we’re leaving the door open.”
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Translation: Developers will only proceed with the project if they receive tax incentives which will cover 50% or more of the total costs. The game is to put as little of your own money at risk as possible. Make some campaign donations to get your approvals granted, over-promise on the jobs created and economic impact, threaten to stop the project multiple times unless the Council gives you what you want. KCMO Council will fold like a cheap suit, as they always do.
Yeah unvarnished racism is hilarious
ReplyDeleteYou want him to interview the city council?
ReplyDeleteCentral Perp
ReplyDeleteIf you are going to Purchase a Condo. The value of the condo will go down 2 minutes and 2 seconds,after you sign.And if you have children send them to a private school.
ReplyDeleteReal estate developers have the worst judgement of any type of person. Just look at MISSION MALL at Roe and Johnson Drive! Stupid people, just like kids they have to build something - even if its a total failure
ReplyDeleteMoon Cricket Manor
ReplyDeleteThis one is tough so guess they will call PortKC for the rescue.
ReplyDelete