And so, the ponzi scheme that is Kansas City politics continues with nearly clandestine economic development effort pushed through despite concerns about sustainability . . .
KC Biz Journal: TIF Commission advances East Side revitalization effort
Deets:
"Roughly $500,000 a year in earnings tax revenue paid by employees of Kansas City Public Schools would be diverted from city coffers into improvements within a 20-block-long swath of the city's East Side under a tax increment financing plan advanced Friday afternoon.
"The Tax Increment Financing Commission of Kansas City voted 9-1 during a special meeting in favor of creating a "proactive" city-backed TIF district aimed at stabilizing and revitalizing the area, which includes 781 acres, seven neighborhoods and 2,739 parcels improved with homes, businesses and churches . . ."
Read the whole thing here . . .
The answer to any criticism of this move is a well-deserved attack on Downtown which is also propped up by hyperbolic tax breaks, TIF and development privilege . . . And so the debate continues as KCMO plunges further into debt.
Developing . . .
No comments:
Post a Comment