http://blogkc.com/archives/2009/10/citys-pl-district-subsidy-increasing-to-20-millionyear/ A Weblog for Kansas City, Missouri. Thu, 11 Mar 2010 17:09:54 -0800 http://wordpress.org/?v=2.9.2 hourly 1 http://blogkc.com/archives/2009/10/citys-pl-district-subsidy-increasing-to-20-millionyear/comment-page-1/#comment-195160 AJ Tue, 27 Oct 2009 19:04:59 +0000 http://blogkc.com/?p=2563#comment-195160 John that is true, but $55 per square foot for a brand new retail development is still ridicoulously low even with market conditions adjustments. Considering we the tax payers are carrying this burden, the appraisals should be public information. I still don't believe the concluded value is reasonable at first glance. Market adjustments do not fully explain an 80% difference between cost and current value. This is completely fishy and Kansas City is getting screwed. John that is true, but $55 per square foot for a brand new retail development is still ridicoulously low even with market conditions adjustments. Considering we the tax payers are carrying this burden, the appraisals should be public information. I still don’t believe the concluded value is reasonable at first glance. Market adjustments do not fully explain an 80% difference between cost and current value. This is completely fishy and Kansas City is getting screwed.

]]> http://blogkc.com/archives/2009/10/citys-pl-district-subsidy-increasing-to-20-millionyear/comment-page-1/#comment-195159 john Tue, 27 Oct 2009 16:30:26 +0000 http://blogkc.com/?p=2563#comment-195159 SMH, they are talking about the tax appraisal by the county assessor. Real estate is decline in value since the district opened. It's very similar to the situation with who bought $200,000 houses in 2007 that are now only worth $150,000. The cost to build something isn't necessarily the same as the real estate appraisal if the market has decided the property is worth less. SMH, they are talking about the tax appraisal by the county assessor. Real estate is decline in value since the district opened. It’s very similar to the situation with who bought $200,000 houses in 2007 that are now only worth $150,000. The cost to build something isn’t necessarily the same as the real estate appraisal if the market has decided the property is worth less.

]]> http://blogkc.com/archives/2009/10/citys-pl-district-subsidy-increasing-to-20-millionyear/comment-page-1/#comment-195157 smh Tue, 27 Oct 2009 15:51:46 +0000 http://blogkc.com/?p=2563#comment-195157 Can anyone explain what they mean by "valued the P&L District at $25million." Didn't this cost like $300mm to build? Am I missing something? Thanks for any info! Can anyone explain what they mean by “valued the P&L District at $25million.” Didn’t this cost like $300mm to build? Am I missing something? Thanks for any info!

]]>