Prairiefire Defaults On Bonds AGAIN

The main takeaway . . .

EVEN IN PROSPEROUS JOHNSON COUNTY, RETAIL DEVELOPER DREAMS CONFRONT CRUEL ECONOMIC REALITY!!!

This FAIL deserves attention given that Kansas is spending even more cash on the Chiefs an imagining an EPIC payout that will probably never materialize . . . 

Prairiefire defaulted on $3.6 million in community improvement district bonds.

The Overland Park development previously defaulted on STAR bonds.

Neither Overland Park nor the project's developer are liable for repayment.

Buyers acknowledged with their bond purchases that no credit rating was sought or obtained for them and that they were a speculative investment "subject to significant risks, including the risk of nonpayment."

Read more via www.TonysKansasCity.com link . . .

KC Biz Journal: Prairiefire defaults on CID-backed bonds after sales tax revenue comes up short

For anybody reading REALLY closely . . .  

This archive link tells even more of the story courtesy of BEST & BRIGHTEST TKC READERS who understand the Internet far better than a basement blogger. 

Developing . . .