Comments on: Power & Light District will have a razor-thin margin

By: mckgjpdmmh

mckgjpdmmh — Fri, 22 Jun 2007 01:05:22 +0000

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By: Chris

Chris — Fri, 05 Jan 2007 03:44:58 +0000

The corporate welfare for Kansas City developers (aka TIF projects, tax breaks, and condemnations that benefit friends of City Hall) has gone unchecked for so long that the perpetrators have stopped trying to hide thier sacking of the already thin City coffers and are just continuing thier march. It is no wonder that the City’s infrastructre is crumbling.

By: Mark Forsythe

Mark Forsythe — Wed, 03 Jan 2007 16:45:43 +0000

“Former City Councilman Jim Rowland said the council relies on forecasts and other imperfect information to make financing decisions.”

Admitting you rely on “imperfect information” and then allowing a deal to go through with a 4% margin for error? Yikes!

Finance is about knowing your constants and reducing risk to an acceptable level. Your constant in this case is the payments to the bank. Financial institutions are kind of funny about expecting to be paid. There is no crystal ball when it comes to projecting revenues from a retail/commercial project so that’s your risk (and a huge one it is).

This deal requires 100% occupancy plus the projected Economic Activity Taxes (EATs) for the duration meeting projections. If just one business goes under. One business model fails to meet projections and the taxpayers are picking up the tab.

You don’t need to be a finance wonk to look at this and say bad idea.

By: lamar mickens

lamar mickens — Wed, 03 Jan 2007 11:24:02 +0000

Rolling roofs, rain gardens, sneaky stadium improvements; I seen them all from those stupid cows to Science City! When are we going to stop allowing politicians to quit foolishly spend our money on stupid things that don’t work or increase our operating expenses! The stupidity, frustration and aggravation! Thank God most of them won’t be back!

By: DaveKCMO

DaveKCMO — Fri, 29 Dec 2006 21:35:44 +0000

the sprint center is an entirely separate conversation. yes, it was also driven by incentives, but the city is pretty well covered by AEG if there are cost overruns or shortfalls.

By: doinkman

doinkman — Fri, 29 Dec 2006 20:24:35 +0000

I wonder what the underlying assumptions about having a pro sports team in place in the Sprint Center and when are behind the projected revenues for the district?

It seems it will be hard for the area to do well financially, if there isn’t something driving people to visit.

By: Tony

Tony — Fri, 29 Dec 2006 19:19:47 +0000

I think this should mean that everybody from KC is allowed to wander down to the construction site, give orders, tell workers to hurry up and otherwise ensure the project runs as smoothly as possible.